Ukraine: Comparable uncontrolled price method (“CUP”): As per the new law which came into force from August 11 2015,  taxpayers are allowed to use Comparable Uncontrolled Price (“CUP”) method only with reference to the prices on the commodity exchange for the decade preceding the date of the controlled transaction. The list of commodities subject to this rule as well as the list of foreign commodity exchanges that can be used for each group of the commodities shall be determined by Ukraine’s Cabinet of Ministers.
Other methods: As per the new law which came into force from August 11 2015, taxpayers are allowed to use other transfer pricing methods but are required to submit to the tax authorities, by May 1 of the year following the reporting, information on the entire chain of supply of the goods to or from the first unrelated counterparty, including information on profitability of all related parties participating in the respective chain of supply.
Documentation thresholds: As per the new law which came into force from August 11 2015, all taxpayers are required to submit a report on controlled transactions by May 1 of the year following the reporting irrespective of volume of transactions.
Documentation deadline: As per the new law which came into force from August 11 2015, all taxpayers are required to submit a report on controlled transactions by May 1 of the year following the reporting.
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Thailand: Main corporate tax rate: For small and medium enterprises profits up to THB 300,000 are not taxed and profits over THB 300,000 are subject to a lower rate of 10% as approved by the Cabinet of Thailand on 8 September 2015. Reduced rates may also apply under incentives granted by the Board of Investment.
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Romania: Penalty in case of adjustments: As per the Law No. 207/2015 which revised the Fiscal Procedures Code, a new penalty of 0.08% per day is to be introduced and will be effective from 1 January 2016 for failure to declare or the incorrect declaration of tax liabilities established by the tax authorities through tax assessment decisions.
Reduction of penalties: Under the Law No. 207of 2015, penalties for failure to declare or the incorrect declaration of tax liabilities are to be reduced by 75% if paid within certain deadlines.
Interest on late payment or failure to payment of tax: The daily interest charge would be reduced from 0.03% to 0.02% as per the Law No. 207/2015 of Romania and is effective from 1 January 2016.
Statute of limitation: Under the Law No. 207of 2015, the 5 years statute of limitation period corresponding to the right of the tax authorities to establish tax liabilities will begin on 1July of the year following the year to which the tax liabilities relate.
Time limit for tax audit: The maximum duration of a tax audit will be 45 days for small taxpayers, 90 days for medium taxpayers and 180 days for large taxpayers as per the Law No. 207/2015 of Romania and is effective from 1 January 2016.
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US: Transfer pricing rule: The Treasury Department and IRS released for publication in the Federal Register Temporary regulations (T.D. 9738) to clarify the arm’s length standard and the best method rule under Code section 482 and the regulations thereunder with such other Code and regulatory provisions. The coordination rules in these temporary regulations apply to controlled transactions, including controlled transactions that are subject in whole or part to both sections 367 and 482.
Transfer of intangible property: The Treasury Department and IRS released proposed regulations (REG-139483-13) relating to the transfer of property including foreign goodwill and going-concern value to foreign corporations in non-recognition transactions under section 367.
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Netherlands: BEPS related compliance:
Master file and local file: The Dutch State Secretary of Finance released a draft law on 15 September 2015 with supplementary transfer pricing documentation requirements in line with the three-tiered approach of Action 13 of the OECD like master file and local file requirements and will be applicable for fiscal years starting on or after 1 January 2016.
CbC reporting requirement: The Dutch State Secretary of Finance released a draft law on 15 September 2015 with supplementary transfer pricing documentation requirements in line with the three-tiered approach of Action 13 of the OECD like Country-by-Country (CbC) reporting requirements and will be applicable for fiscal years starting on or after 1 January 2016.

Penalty for non-compliance: The Dutch State Secretary of Finance released a draft law on 15 September 2015 which proposes that not satisfying the requirements to submit the CbC report will be regarded as a criminal offense. Non-compliance will lead to a monetary fine of €8,100 or custody of six months at the most for the party involved. In case of non-compliance occurs intentionally, then a fine of the fourth category, as provided in article 23, paragraph 4 of the criminal code applies in addition to an imprisonment of four years at the most. It will be applicable for fiscal years starting on or after 1 January 2016.
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Mexico: Thin-capitalization rules: Under the tax reform proposal presented to congress on September 8, 2015, Interest-accruing debts incurred in constructing, operating or maintaining production infrastructure linked to strategic areas in Mexico will not subject to the thin capitalization rules.

BEPS related compliance:
Master file and local file: The Mexican tax reform proposal presented to congress on September 8, 2015 which includes supplementary transfer pricing documentation requirements in line with the three-tiered approach of Action 13 of the OECD like master file and local file requirements.
CbC reporting requirement: The Mexican tax reform proposal presented to congress on September 8, 2015 which includes supplementary transfer pricing documentation requirements in line with the three-tiered approach of Action 13 of the OECD like Country-by-Country (CbC) reporting requirements.

Penalty for non-compliance: Under the tax reform proposal presented to congress on September 8, 2015, non-compliance with the rules would be imposed penalties in a range of MXN 140,540 (USD 8,365) to MXN 200,090 (USD 11,910) and in addition, a failure to file or presenting incomplete or erroneous reports would be penalized by disqualifying the taxpayer from entering into contracts with the Mexican public sector.
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Italy: Statute of limitation: In the case of criminal tax investigations, the statute of limitation may be extended by double as per the approved Legislative Decree 128.
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France: Transfer pricing rule: New Article L. 62A of the French tax procedure code published in the official bulletin on 2 September 2015 sets forth rules that allow repatriation of certain profits transferred abroad by French taxpayers without additional withholding tax.
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Poland: BEPS related compliance:
Master file and local file: The parliament approved a bill on 11 September 2015, which requires a taxpayer that is part of a multinational corporate group with annual income or expenses of at least €20 million to prepare and deliver a master file report containing standardized information relevant to all group members and a local file specifically related to transactions carried out by the taxpayer. It is expected that the provisions on transfer pricing reporting obligations will come into effect on 1 January 2017.
CbC reporting requirement: As per the bill approved by the parliament on 11 September 2015, a resident entity that is part of a multinational corporate group with annual consolidated income of at least €750 million will be required to prepare a comprehensive report reflecting the activities and taxes paid in each country in which the group operates, i.e., the country-by-country reports (CbCR). It is anticipated that the provisions on transfer pricing reporting obligation like CbC reporting will come into effect on 1 January 2017.
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China: Transfer pricing rule: China’s State Administration of Taxation (SAT) issued a new draft implementation rules on 17 September 2015. If enacted, it will replace Cai Shui Fa [2009] No. 2.
Definition of control: The definition of related parties to which transfer pricing rules apply has been clarified and expanded in new draft implementation rules. Companies owned by family members who are related by up to three generations of kinship will also be treated as related party.
Intra-group services: The new consultation draft issued on 17 September 2015 by China’s State Administration of Taxation (SAT) introduced an entirely new requirement for the preparation of a Special File wherever a taxpayer engages in intra-group service transactions.  The Special File would contain copies of the relevant intercompany agreements, documentation of service cost identification and allocation keys.
Cost contribution arrangements: As per the new consultation draft; SAT pre-approval is no longer required for taxpayers to enter into CSAs. There will be more emphasis on review and examination of all CSAs.  The consultation draft continues to require that the parties adjust cost shares for differences between actual results and reasonably expected benefits, contrary to OECD guidance; although it can reasonably be inferred that only “significant” differences require adjustment.
Intangible property: The consultation draft has included an entirely new chapter concerning intangible property transactions.
Corresponding adjustment: The new consultation draft adds a provision requiring taxpayers to reconcile accounts after a transfer pricing adjustment has been made.  If no corresponding adjustment is made, the taxpayer will be treated as having made a dividend distribution to its foreign counterparty.
Availability of APA: The new consultation draft clarifies the right of tax authorities to reject taxpayer’s letter of intent, renewal application, or formal APA submission under different conditions.
BEPS related compliance:
Master file and local file:  The new consultation draft issued on 17 September 2015 has included BEPS Action 13’s threefold approach to documentation, comprising the master file and local file.
CbC reporting requirement: As per The new consultation draft, Chinese-parented multinational groups that have global revenues greater than 5 billion RMB are required to submit a CBC Report with their annual tax return.
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