OECD: BEPS-related transfer pricing documentation, country-by-country reporting draft guidance
On 31 January 2014 the Organization for Economic Co-operation and Development (OECD) released an initial draft of revised guidance on transfer pricing documentation and country-by-country reporting. This is related to Action 13 under the Base
See MoreSwitzerland: Safe harbor rules apply to intra-group interest rates
Under a Circular of 30 January 2014 the safe harbor interest rate on loans received by shareholders or related parties denominated in CHF are 1.5% on loans financed through equity, or for loans financed through debt the safe harbor rate is the
See MoreVietnam – detailed guidance on APA process effective 5 February 2014
Following the introduction of Advance Pricing Agreements (APA) in the Revised Law on Tax Administration, Vietnam’s Ministry of Finance (MoF) issued Circular No. 201/2013/TT-BTC (Circular 201) providing detailed guidance on the APA application
See MoreTurkey: Specific Transfer Pricing Compliance
An annual transfer pricing report must be prepared by the date of the annual tax return. The transfer pricing rules also specify documentation that must be maintained. Listed companies may also be required to submit a report on controlled
See MoreSlovenia- Audits time limits
There is no fixed time limit within which a tax audit may take place. The statute of limitations is normally ten years but may be extended for the duration of legal procedures in connection with collecting
See MoreMalaysia: Audits process
Under the transfer pricing audit framework for transfer pricing audit effective from 1 April 2013, a taxpayer may be selected for audit based on the significance of its controlled transactions before taking into account other risk analysis. The time
See MoreTransfer Pricing Brief: December 2013
Australia The ATO's Base Erosion and Profit Shifting (BEPS) team is undertaking a compliance initiative called the International Structuring and Profit Shifting Project (ISAPS project). Brazil Penalties may also apply for non-reporting of
See MoreVietnam: APA regime procedures and rules
Vietnam’s Ministry of Finance has issued detailed guidance in Circular 201/2013/TT_BTC dated 20 December 2013, for the advance pricing agreement (APA) regime, which was added to the income tax law in July 2013. The new guidance is effective from 5
See MoreArgentina: Transfer Pricing Documentation Requirements
From 3 January 2014 there is a monthly reporting requirement for certain domestic transactions on the Argentinian market using Form F968. The criteria for transactions to be included in the monthly report are similar to those that apply to foreign
See MoreFrance – Finance Bill 2014 enacted Transfer Pricing Provisions
The Finance Bill for 2014 of France was published on December 30, 2013. The bill contains transfer pricing provisions but the Constitutional Court has rejected certain controversial provisions. As approved by the Constitutional Court the Finance
See MoreNigeria establish TP Division and disclose TP forms
Transfer Pricing Division will be accountable for the implementation and administration of the Income Tax Transfer Pricing Regulations No.1 2012 (TP Regulations) and it has build by the Nigeria’s Federal Inland Revenue Service (FIRS). The TP
See MoreVietnam – Transfer pricing audits based on risk profiles
Vietnam’s General Department of Taxation published transfer pricing audits on 18 December 2013, throughout a number of provinces, and selected some textile, garment, and footwear companies based on transfer pricing risk assessment profiles. The
See MoreNetherlands – New transfer pricing decree unifies rules
The Dutch Deputy Minister of Finance has issued a new decree that generally unifies and clarifies prior transfer pricing guidance, and withdraws and cancels prior decrees from 2001 and 2004. The new decree is effective from 27 November 2013. The
See MoreAustralia: ATO dispatched International Structuring, Profit Shifting field Program
The Australian Taxation Office (ATO) in accordance with current base erosion and profit shifting (BEPS) activities dispatched an “international structuring and profit shifting” (ISAPS) field review program. This is a decentralized national
See MoreNetherlands – new transfer pricing decree
The Dutch Deputy Minister of Finance in late November 2013 issued a decree that generally unifies and clarifies prior transfer pricing guidance, and withdraws and cancels prior decrees from 2001 and 2004. The effective date for the new transfer
See MoreFrance – “Abridged” transfer pricing documentation to be filed annually
On 12 December 2013 it was reported that recently enacted transfer pricing legislation includes a new requirement for large taxpayers to file annually an “abridged” version of their transfer pricing documentation. The requirement to file the
See MoreRussia – Controlled transaction is classified as transactions within individuals
The Russian Ministry of Finance (MoF) has issued Letter No.03-01-18/38106 on September 16, 2013 that explains whether transactions with individuals should be treated as controlled transactions for the purposes of transfer pricing regulations.
See MoreFrance – Arm’s length indemnification for unfair termination of contracts
In two court cases of France it was reported on 9 January 2013 that a failure to provide the required notice period with respect to a group restructuring may provide a cause of action for an award of compensation for unfair termination of a
See More