Vietnam – 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 MoreFrance – Transfer pricing adjustments been recognized by the Appellate courts
The Administrative Courts of Appeal of France recently issued decisions affirming transfer pricing adjustments which are as follows: Lyon court of appeals The Administrative Appeals court in Lyon concluded that Frenchco exercised direction and
See MoreFrance – Administrative Court of Appeal of Paris denies use of secret comparables
The Administrative Court of Appeal of Paris gave its decision in Nestlé Entreprises v. Minister of Economy and Finances (No. 12PA00469) on 5 February 2013 concerning the use of secret comparables under the transfer pricing regulation, article 57 of
See MoreIndia: Determines arm’s length price of share transfers
The Income-tax Appellate Tribunal has held that the discounted cash flow method was preferable over the “yield” method or “net asset value” method for purposes of determining the arm’s length price of shares transferred to related parties.
See MoreAustralia: Transfer Pricing being referred as “Profit Shifting”
In Australia, the recent introduction of subdivision 815 has given the Commissioner more extensive powers to transfer pricing adjustments. Subdivision 815 has made a new approach to Australia's transfer pricing analysis which goes beyond the
See MoreNigeria – New TP forms and established tax office
Nigeria’s Federal Inland Revenue Service (FIRS) has published a transfer pricing declaration and disclosure form for executing the transfer pricing regulations issued in 2012 and has established a tax office within the tax administration
See MoreFrance – Additional reporting requirements for companies
The national assembly of France passed a legislation related to reporting requirements on 5 November 2013. The legislation consists of new reporting requirements in addition to transfer pricing documentation for companies. Companies which will fall
See MoreECJ: Ruling on Finland’s treatment of capital loss
On 7 November 2013 the European Court of Justice (ECJ) ruled on a question referred to it by the Supreme Administrative Court of Finland in respect of the treatment of a capital loss incurred in another member state. The question put to the ECJ was
See MoreBrazil:Tax authority issues guidance for transfer pricing purposes
The Brazilian tax authority has published guidance for determining the pricing of certain exports and imports of goods that are treated as commodities on 6 November 2013.The guidance also presents new probability for price adjustments. Under the new
See MoreTransfer Pricing Brief: November 2013
Australia Under Draft Taxation Determination TD 2013/D3 support payments made by an Australian parent company to a foreign related entity would be considered as capital payments and would not be tax deductible for the Australian parent.Profit
See MoreIndia : Loan simplification services and fees of foreign branches
In a recent decision, the Mumbai Bench of the Income-tax Appellate Tribunal found that: Services provided by a taxpayer bank were “crucial services” and the services were not a “mere facilitation” for concluding or signing of the loan
See MoreEuropean Court of Justice (ECJ): Taxpayer rights in respect of a request for information
The following questions were put to the European Court of Justice (ECJ) by the Czech Supreme Administrative Court on 4 June 2012 relating to taxpayer rights in respect of a request for information. The European Court of Justice determined that EU
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