Transfer Pricing Brief: November 2014
Australia Transfer Pricing Rule-The reconstruction provisions are contained in section 815-130 ITAA 1997. TR 2014/6 gives guidance on identifying situations where the form of commercial or financial relations differs from the
See MoreIndia: Taxpayer’s use of the Resale Price Method for distribution activities Supported by the court
In the case of : CIT v. L’Oreal India Pvt. Ltd. (ITA No. 1046 of 2012 (7 November 2014), The Bombay High Court confirmed a tribunal decision that, the taxpayer’s use of the Resale Price Method (RPM) for purposes of determining the arm’s
See MoreCzech Republic: Burden of proof regarding investment incentives and transfer prices
The Supreme Administrative Court of the Czech Republic has issued a decision in a case regarding a company that took tax relief on the basis of some investment incentives and was needed to establish arm’s length prices due to its transaction with
See MoreSpain: EU Court Backs Spanish Tax Breaks For Foreign Acquisitions
Spain has won against European Union for tax breaks intended to help its companies buy stakes in foreign firms, where EU regulators' campaign against tax deals they view as illegal subsidies. The EU court has ruled in Spain's favor regarding
See MoreFrance: Tax Administration Publishes Guidelines On The Abridged Transfer Pricing Documentation
French tax administration published guidelines on the abridged transfer pricing documentation in the Official Bulletin for Public Finances Taxes on 6 November 2014. Legal persons established in France must be submitted in the French language to the
See MoreTransfer Pricing Brief: October 2014
Australia Intangible Property-The ATO is increasing the amount of resources devoted to examining business restructurings, marketing hubs and intangible assets.Financial Services- Under Draft Taxation Determination TD 2013/D3 support payments
See MoreOECD: Transfer pricing documentation – Country by Country Reporting
Action 13 of the action plan on Base Erosion and Profit Shifting (BEPS) is concerned with supplying the tax administration with sufficient information to allow them to assess transfer pricing risk. The guidance issued by the OECD in September 2014
See MoreCzech Republic: Second phase of Transfer pricing questionnaires
A Transfer Pricing (TP) questionnaire in August 2014 has circulated by the special tax authority of the Czech Republic. The questionnaire has been done by more than 60% of corporations to which it was delivered. On the basis of new information, a
See MoreCzech Republic: Issues transfer pricing form
From October 2014 a transfer pricing form has been introduced for submission to the tax authorities annually with the tax return, requiring information on related party transactions. This form must be submitted by taxpayers if their total assets are
See MoreLuxembourg: New Transfer Pricing rules from 2015
A new transfer pricing rules will take effect in Luxembourg from the year 2015 in line with international principles and OECD Tax Model convention providing adjustments of profit provisions if transfer pricing do not reflect the Arm’s Length
See MoreNigeria: Preparing for transfer pricing audit
A transfer pricing declaration and disclosure form will be the first returns filed in compliance with Nigeria’s transfer pricing regulations if returns of taxpayers having a December 2014 accounting year-end. By filing these returns, Nigeria’s
See MoreIceland: Released draft regulation on transfer pricing documentation
The Icelandic Ministry of Finance released the draft regulation on transfer pricing on 13 October 2014. According to the draft regulation outlining detailed transfer pricing rules was released on 13 October 2014 and when finalized this will apply
See MoreTransfer Pricing Brief: September 2014
Australia Transfer Pricing Documentation Requirement-Draft practice statement PS LA 3673 sets out the responsibilities in respect of transfer pricing under self-assessment.Penalty in cases of Adjustments- Draft practice statement PS LA 3672
See MoreChina: Transfer pricing application Process
Transfer pricing adjustments may be made in accordance with Circulars 3 and 16 "Internal Working Procedure (Trial) of Special Taxation Adjustment" and "Joint Assessment Procedure (Trial) for Key Cases of Special Taxation Adjustment". Accordance with
See MoreEU – Pan-European implications of VAT decision on cross-border services
The Court of Justice of the EU recently issued a judgment in a case that may have implications for multinational organizations with either branch operations or head office in EU Member States particularly those entities in the financial services
See MoreSlovenia: APA concluded for transfer pricing purposes
On 1 August 2014, the amendments to the Financial Administration Law (the Law) entered into force. According to the law, the Tax Procedure Act effective from 2007 introduced a system of tax rulings and from 1 August 2014 advance pricing agreements
See MoreFrance: Tax Authority Released The Final Version Of Abridged Documentation Report
The tax authorities of France released the final version of the tax form No 2257-SD on 16 September 2014 which is also known as the abridged documentation report, requiring some information; Information for MNE: Multinational Entity’s
See MoreSlovenia: Financial administration approved to conclude advance pricing agreements
In Slovenia, the amendments to the Financial Administration Law (the Law) entered into force on 1st August 2014. This Law Based on financial authorities is authorized to conclude advance pricing agreements (APA) for transfer pricing purposes. The
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