Transfer Pricing Newsletter

Argentina: Argentine Supreme Court rules set Transfer Pricing regs enacted by presidential decree unconstitutional

Australia: Australia proposes new public country-by-country reporting obligations

Costa Rica: Costa Rica’s Possible Tax Reform

France: New fraud prevention action plan in France: Transfer Pricing obligations to be strengthened

Germany: Tightening of the German Transfer Pricing documentation rules

India: Few landmark rulings and regulatory update

Malta: Malta’s Transfer Pricing rules

The Netherlands: Clarification on the scope and application of the Dutch anti-Transfer Pricing mismatches legislation

Poland: Transfer Pricing adjustment – conflicting approach of Polish tax authorities

Saudi Arabia: Saudi Arabia approves new amendments to the Transaction Pricing (TP) regulations

Senegal: Arm's-length principle in Transfer Pricing: Senegalese tax authorities favour local comparable

The United Arab Emirates: New Transfer Pricing regulation in the UAE: are you prepared?

United Kingdom: APAs, ATCAs, MAPs and HMRC Statistics

Argentina: Argentine Tax Court ruling on “Cargill” Transfer Pricing Case

Austria: Intra-Group Financing – Austrian Specifics

Austria: Decision of the Austrian Financial Court regarding Transfer Pricing

Brazil: Superior Court of Justice rules out illegal Methodology to calculate the PRL 60 Method

Chile: 2022 Tax Reform Bill Proposal to update Transfer Pricing Regulations in Chile

France: Research Tax Credit and Subsidies Synergies with Transfer Pricing

Indonesia: Introduction of New Transfer Pricing Methods

Italy: New Arm's Length Range is set for Transfer Pricing

Poland: Administrative Courts condemn Tax Authorities’ unlawful Practices regarding the Questioning of Benchmarking Studies 

Saudi Arabia: Amending Transfer Pricing Instructions to apply to Zakat Payers

Senegal: Transfer Pricing: Systematizing the Control of Reporting Obligations

Thailand: Cash Pooling between related Companies

Ukraine: The War is not an excuse to ignore Transfer Pricing Compliance

United Kingdom: Draft Legislation on the UK TP Documentation Requirements

Europe

Austria: New Info from the Austrian Ministry of Finance – Mutual Agreement Procedure and Arbitration Procedure

Denmark: Mandatory Submission of Transfer Pricing Documentation in Denmark during 2022

France: The SAP Case: The Difficulty for Tax Courts when Handling Negative Interest Rates

Hungary: TP Update

Ireland: The Irish Position on the proposed ATAD3 Directive

Italy: DAC6 Reporting: Year-End TP Adjustment

United Kingdom: APAs, ATCAs and HM Revenue and Customs Statistics

Further Countries

Argentina: Deemed Affiliation: Cross-Border Transactions with Low-Tax Jurisdictions

Brazil: Plan for Brazil’s Accession to the OECD: Changes to Transfer Pricing Rules

Chile: Practical Lessons learned from Transfer Pricing Audits in Chile

China: First Chinese Customs and Tax Collaborative Transfer Pricing Management Mechanism

India: The Indian Revenue’s Measures for effective Dispute Resolution

Kenya: A Fundamental Shift in the Transfer Pricing Regime in Kenya

Senegal: After joining the Multilateral Convention, a Step forward in the Fight against Tax Evasion & Avoidance

Europe

Austria: No annual CbCR notification required since 1 January 2022

Czech Republic: The Czech Supreme Administrative Court’s thoughts on related party definition

France: The RKS case: shades of nuance in TP by the French Supreme Administrative Court

Germany: New case law on the determination of arm’s length interest rates for intercompany loans

Ireland: TP Compliance requirements in Ireland

Italy: New rules on TP documentation

The Netherlands: Netherlands disallows unilateral downward TP adjustments

Poland: Polish regulations on “indirect” transactions with tax havens

Portugal: Amendments to Transfer Pricing legislation

United Kingdom: Outcome of the UK consultation on TP documentation  

Ukraine: Ukrainian Ministry of Finance clarifies new TP rules on business purpose

Further Countries

Brazil: Effects of extinction of LIBOR rate to Brazilian TP controls

China: Deduction of interest charged by related parties  

New Zealand: New BEPS disclosure guidance and preparation forms

Taiwan: Taiwan CFC rules will be implemented as of 2023 in response to the Global Minimum Tax

Europe

Austria: New Austrian Transfer Pricing Guidelines 2021

Belgium: Belgian Transfer Pricing court case: a rare occurrence

France: The Engie Case: an ambitious new approach by the French Tax Administration

Germany: German Federal Ministry of Finance: Administrative Principles 2021 on Transfer Pricing published

Germany: Recent changes on German Tax Law concerning Transfer Pricing

Ukraine: State Tax Service intensifies TP control

Further Countries

Argentina: Transfer Pricing developments in Argentina

Benin: Transfer Pricing Update Benin

Chile: Migration of the approach of the Chilean Revenue Service to segments with greater fiscal impact

China: Responses to practical questions on the Transfer Pricing implications of the COVID-19 impacts15

Nigeria: Transfer Pricing Update on Nigerian TP case

Senegal: Implementation of Action 12 of BEPS project: a strengthened internal tax system

Taiwan: Supreme Administrative Court decides on one-time Transfer Pricing adjustments

Thailand: TP legal framework and practical insights

United States: The US’ role in global adoption of Pillar 1 and Pillar 2 / ongoing conversations in the US on tax reform / a status update on US tax reform

Vietnam: Transfer Pricing Update Vietnam

Europe

Austria: New Austrian Transfer Pricing Guidelines 2020

France: Self-financing through intangible assets or how to generate significant tax savings

Germany: German Federal Ministry of Finance: Administrative Principles 2020 published

Hungary: Pandemic does not stop TP audits in Hungary

Italy: New Rules on the Transfer Pricing Documentation

The Netherlands: Proposed limitation to Dutch unilateral downward adjustments

Poland: New documentation requirements for transactions with tax havens as of 1 January 2021

UK: UK Consultation on Transfer Pricing Documentation

Further Countries

Argentina: Mandatory Disclosure Framework and Transfer Pricing

Brazil: New ‘Local File’ Requirements in Brazil

Chile: Recent cases on TP – Chile vs Avery Dennison Chile SA (FY 2012)

China: China releases public consultation paper on simplified unilateral APA procedures

Ghana: Ghana introduces new Transfer Pricing Regulations

India: Transfer Pricing Update India

Senegal: Latest Transfer Pricing tax reform implementing Action 12 of the OECD BEPS project

Vietnam: The regulations on the Advance Pricing Agreement (“APA”) and its modification

Europe

France: Proof of the interest rate applied between related companies

Spain: Transposition of directive 2017/1852, of the council of 10 October 2017, relating to the integration of mechanisms or the resolution of tax disputes in the European Union into Spanish domestic law

Sweden: New guidance on financial guarantees

Ukraine: New business purpose test in Ukrainian tax law

Further Countries

Argentina: Argentina adds new transfer pricing documentation requirements for operations with intermediaries

Chile: Adoption of new transfer pricing requirements: master file & local file

Costa Rica: Transfer pricing update for Costa Rica

India: Updates on the Mutual Agreement Procedure (MAP)

China publishes annual APA report

Nigeria: Averting penalties on TP transactions by means of proper TP compliance

Senegal: The Multilateral Convention of OECD BEPS project: Senegal’s position and its impact on its bilateral DTTs

Taiwan: Draft amendments to transfer pricing assessment rule

Vietnam: New decrees on transfer pricing

France: Impact of the crisis on transfer prices

Germany: Suggested draft law on IC financing: typification of the arm’s length principle also applicable to domestic transactions? – A comparison of tax consequences in cross-border and domestic cases

Hungary: Recent Hungarian developments in transfer pricing with a focus on impacts of COVID-19

Italy: The New Italian Law on International tax disputes settlement

Netherlands: “To dip or not to dip, that is the question”

Ukraine: New proportionate TP adjustment rules introduced into Ukrainian tax law since May 2020!

Argentina: “Argentine Transfer Pricing News - 2020 Second Trimester”

Chile: Revision of formal obligations: what to expect

Nigeria: Applicable TP Methods in Nigeria – Analysing prime plastichem Nigeria limited V federal inland revenue services

Pakistan: Transfer Pricing Audit

Taiwan: One-time Transfer Pricing adjustment in Taiwan

Thailand: Transfer Pricing Update

Vietnam: The impact of the new Law on Tax Administration on Transfer Pricing

Argentina: Argentine Transfer Pricing News – 2020 First Trimester

Austria: Implementation of the EU Directive on Tax Dispute Resolution Mechanisms

Belgium: Belgian Tax Administration (BTA) published final version of the circular letter “Transfer Pricing”

Brazil: Dialogue Between Brazil and OECD on the Alignment of Brazilian Transfer Pricing Rules with the OECD Standard

Germany: I/C Financial Transaction and Transfer Pricing: Final OECD Guidance and Germany’s Bilateral Position

Italy: Arm’s Length Range – Recent Case Laws

OECD: Pillar One – Not Only the Taxation of Digital Business Models is Under Discussion!

Poland: New Transfer Pricing Reporting Obligations

Romania: Transfer Pricing update for Romania

Senegal: The New Regulation Provided by Law no. 2018-10 Amending the Senegalese Tax Law on Transfer Pricing

Republic of Serbia: Transfer Pricing Treatment of Purchasing Fixed Assets

Thailand: Transfer Pricing update for Thailand

Turkey: Legislative Works with Regard to BEPS Action 13 are Completed via Presidential Decree No: 2151

Ukraine: Ukrainian Parliament Implements Three-Tier Approach to TP Documentation and Other Important Changes to the Tax Code

Vietnam: Advance Pricing Agreements gaining importance

Austria: Limits of temporary relief in the MAP (Mutual Agreement Procedure)

China: Chinese taxation in the era of digitisation

Hong Kong: Hong Kong IRD issues guidance regarding TP Documentation and CbCR

Netherlands: The EU General Court’s judgement in Starbucks’ state aid case

Nigeria: Transfer Pricing in Nigeria – Navigating a Tax Dispute Resolution

Pakistan: A Paradigm Shift in the Approach to Transfer Pricing in Pakistan

Russia: Changes in Russian TP legislation effective as of 2020

Saudi Arabia: Recent developments in KSA transfer pricing

Switzerland: The Swiss Tax Reform coming into force on 1 January 2020

United Arabic Emirates (UAE): Transfer Pricing Regulations in the UAE

Vietnam: 2020 Tax audits in Vietnam for Foreign Invested Companies will focus on TP

Australia: Australia introduces new Transfer Pricing Guideline for “inbound distributors”

Austria: Horizontal monitoring

Egypt: Egypt’s Transfer Pricing Guidelines

Hungary: Recent developments in Hungarian transfer pricing

Italy: Corresponding adjustments made easier

Saudi Arabia: Tax current developments and their impacts on permanent establishments (PEs)

Gulf Cooperation Council (GCC): Transfer Pricing in the GCC

Republic of Serbia: Interest rates under the arm’s length principle for 2019 fiscal year

South Africa: Extending the scope of transfer pricing rules in South Africa

Thailand: The new Transfer Pricing Act, effective 1 January 2019

Turkey: Current status of the BEPS Action Plan in Turkey from the viewpoint of Turkish legislation

Ukraine: New changes in Ukrainian transfer pricing rules in 2019

Austria: The expanded Advance Tax Ruling Procedure

Belarus: Transfer pricing reform in Belarus

Brazil: Benchmark Price and Renowned Research Companies: Challenges in Brazil

Czech Republic: Functional and risk profile identification as a key issue in current transfer pricing controls

Italy: Implementing BEPS Actions 8 to 10

OECD: WTS Global Comments to the OECD Discussion Draft on Financial Transactions

Poland: Poland changes TP regulations

Portugal: Latest news on the implementation of BEPS in Portugal

Russia: Development of TP court practices in Russia

Republic of Serbia: Interest rates in accordance with the “arm’s length principle” for fiscal year 2018

Ukraine: Transfer pricing in figures

Austria: BMF-Info Transfer Pricing Documentation

Brazil: Prevalence of Law provisions over Normative Instructions issued by the Brazilian Federal Revenue Service

China: China updates “beneficial owner” rules

Germany: Contradictory Views on the Pricing of I/C Loans in German Fiscal Courts

Hungary: Brand new TP Decree

India: Recent Transfer Pricing related updates in India

Luxembourg: New Luxembourg intellectual property regime in force

Republic of Serbia: Changes in Corporate Income Tax law related to transfer pricing

Ukraine: Extension of TP control to permanent establishments in Ukraine

Brazil: Adoption of the Resale Price Less Profit method on long-term agreements

China: The developing APA programme

India: India introduces the Final Rules on drawing up the Country-by-Country (CBC) report and Master File (MF)

Latvia: Increased focus on transfer pricing is expected due to fundamental tax reform entering into force on 1 January 2018

Russia: Transfer Pricing Developments in Russia

Slovenia: Increasing tax assessment on transfer pricing 

South Africa: Summary of SA Local and OECD BEPS Transfer Pricing Compliance Requirements

Ukraine: New Draft Law on BEPS implementation

Austria: Corresponding TP correction: Direct contact between Austrian and German tax authorities 

Brazil: Brazil’s Request to Join OECD: Changes to Local Transfer Pricing Rules?

Czech Republic: Increasing number and effectivity of tax controls focused on transfer pricing 

Greece: New transfer pricing documentation requirements for Country-byCountry reporting 

Hungary: The implementation of the Country-by-Country Reporting (CbCR)

International: WTS IT tool “WTS CbCR-2-XML Converter”

Japan: Transfer pricing guidebook released in Japan

Luxembourg: New IP regime as of 201

The Netherlands: Should a construction permanent establishment always realise a profit? 

Portugal: Enhancement of tax transparency

Romania: Romania introduces Country-by-Country Reporting

Ukraine: The First Shots in Ukrainian TP Court Practice 

Austria: Transfer Pricing Documentation implementation provision (VPDG-DV) announced 

Brazil: Country-by-Country Reporting in Brazil 

China: Challenging times come after Base Erosion and Profit Shifting actions

Czech Republic: Ministry of Finance’s discussion paper on the implementation of the ATA 

Germany: German Ministry of Finance publishes circular regarding the use of the company name

India: Recent TP updates in India 

Luxembourg: Transfer pricing developments in Luxembourg

The Netherlands: Incorrect transfer pricing and Dutch penalties 

Russian Federation: Specifics of Transfer Pricing control in Russia 

Ukraine: Update of Ukrainian TP rules in 2017

Austria: Transfer Pricing Documentation Law (VPDG) in force

Belgium: Mandatory TP Documentation Requirements introduced into law

China: China is amending its tax collection law, and scrutinizing outbound payments

Germany: Government Draft regarding the implementation of OECD BEPS’s three-tired documentation concept was published on July 13, 2016

Hungary: New domestic regulations introduced on royalties in the light of BEPS

India: India implements Action 13 Plan of OECD 

Nigeria: Nigeria Gets Set for the Full Implementation of Country-by-Country Report Framework

Norway: Implementation of BEPS-Actions

Poland: Update on the implementation of CbC Reporting in Poland

United States: Proposed Section 385 Regulations 

Australia: Update on the implementation of BEPS measures in Australia

Brazil: OECD BEPS Action 13 Transfer Pricing 

China: When will the BEPS Action 13 transfer pricing requirements be implemented? 

Hungary: BEPS – implementation in Hungary – the sounds of silence 

India: Transfer Pricing in BEPS context – India updates 

Italy: The implementation of BEPS transfer pricing guidance in Italy

The Netherlands: Dutch implementation of BEPS Action point 13: TP Documentation and Country-by-Country Reporting 

Norway: Well prepared to comply with BEPS recommendations

Russia: Russian Federation 

Singapore: Singapore’s evolving transfer pricing regime 

Slovenia: Expected Changes in the Field of Transfer Pricing Documentation 

Ukraine: BEPS in Ukraine: not yet but closer 

United Kingdom: Evolving transfer pricing landscape in the United Kingdom

Australia: Multinational Anti-Avoidance Law & Tax Transparency Initiatives 

Brazil: Cost plus profit as an alternative to resale price less profit

China: Enforcement of BEPS in China 

India: Multiple Year Data + Range Concept 

Italy: Transfer Pricing and Domestic Intercompany Transactions in the Light of the New Legislation

Korea: Korea 2015 Tax Reform Proposals: Reinforcement of Multinational Enterprises (“MNE”)’s Transfer Pricing (“TP”) Information Reporting Requirements 

Latvia: Recent transfer pricing judgements in Latvia leading to increased controversy in application of resale minus method 

Luxembourg: Impact of European Commission’s Fiat State Aid decision on Luxembourg’s transfer pricing practice 

Philippines: Transfer Pricing: One of the 2015 Top Priority Programs in PHL 

Poland: Poland implements BEPS Action 13 

Spain: New CbC reporting obligation and amendments to transfer pricing rules

The Netherlands: Dutch Implementation of BEPS Action Point 13: TP Documentation and Country-by-Country Reporting 

Ukraine: The Variations in the List of Controlled Transactions in Ukraine

United Kingdom: Tax and transfer pricing update on interest deductibility

Comments regarding the OECD Draft on Transfer Pricing (TP) Documentation and country-by-country (CbC) Reporting