UK and International Tax news

OECD Updates Transfer Pricing Country Profiles Reflecting Transfer Pricing Legislation And Practices

Wednesday 8th November 2017

The OECD has recently released updated versions of transfer pricing country profiles, reflecting the current transfer pricing legislation and practices of 31 participating countries.

Following the outcome of the OECD/G20 BEPS Project, many countries and jurisdictions have implemented measures to reflect the revisions to the Transfer Pricing Guidelines resulting from the 2015 Reports on Action 8-10 [Aligning Transfer Pricing Outcomes with Value Creation] and on Action 13 [Transfer Pricing Documentation and Country-by-Country Reporting], in addition to changes incorporating the revised guidance on safe harbours approved in 2013 and consistency changes made to the rest of the OECD Transfer Pricing Guidelines.

The updated profiles focus on countries’ domestic legislation regarding key transfer pricing principles, including the arm’s length principle, transfer pricing methods, comparability analysis, intangible property, intra-group services, cost contribution agreements, transfer pricing documentation, administrative approaches to avoiding and resolving disputes, safe harbours and other implementation measures.

The information contained in the TPCP is intended to clearly reflect the current state of countries’ legislation and to indicate to what extent their rules follow the OECD Transfer Pricing Guidelines, and has been provided by countries themselves in response to a questionnaire so as to achieve the highest degree of accuracy.

If you would like further information on any of the TPCPs, please contact Keith Rushen on 0207 486 2378.

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