The UK budget for 2016-17 includes an update of the transfer pricing guidelines in line with OECD Guidelines. This measure amends from 1 April 2016 the references within the relevant legislation to incorporate the most recent revisions to the OECD Guidelines which are the internationally agreed standard for application of the arm’s length principle for transfer pricing purposes. This will ensure certainty for business and will reduce the possible double taxation.
UK: Budget for 2016-2017 Updates Transfer Pricing Guidelines as Per Amended OECD Guidelines
April 07, 2016
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