Nyheder om Transfer Pricing

• 9. april 2009: Comments of PricewaterhouseCoopers LLP on temporary and proposed regulations under section 482
  
  Our comments represent the views of PwC and are not provided on behalf of any client, although they are informed in part by discussions between PwC and its clients.
• 4.maj 2009: UK Tax Court finds for HMRC in transfer pricing case
  
  The first case dealing directly with the application of the arm's length principle was heard in late 2008 and the judgement has been published.
• 22. april 2009: Transfer pricing filing deadlines imminent in China
  
  As the filing deadlines for the first year of China’s Corporate Income Tax returns under the new CIT law draw closer, goal posts have been shifted as some of the district tax authorities have changed the filing deadline dates in their jurisdiction.
• 22. april 2009: New Zealand - Inland Revenue monitors limited risk enterprises, taxpayers' financial transactions and thin capitalisation
  
  Inland Revenue has issued some additional guidance on the transfer pricing issues it will focus on in 2009
• 17.april 2009: Austria - Latest developments regarding intercompany interest rate
  
  The Austrian Ministry of Finance has recently published the findings of its annual tax meeting in the form of an administrative decree.
• 7. april 2009: Egyptian transfer pricing documentation requirements: the 2008 corporate tax return
  
  An amendment to the Egyptian tax law is on its way to introduce an obligation on tax payers with related party transactions to prepare a transfer pricing study to be available to support the related party transactions declared in the tax return.
• 7. april 2009 Ireland - Announcement of new intellectual property tax regime
  
  The Irish Minister for Finance has announced the introduction of a scheme of tax relief for the acquisition of intellectual property in his Budget Speech
• 3. april 2009: IRS Advance Pricing Agreement program releases annual report covering 2008 calendar year
  
  In Announcement 2009-28 the APA Program released its annual report covering APA administration for the 2008 calendar year.
• 3. april 2009: China's SAT provides further explanation on transfer pricing measures
  
  Read further explanation on China’s latest rules on administering special tax adjustments relating to areas such as transfer pricing, thin capitalisation, controlled foreign corporations, and general anti-avoidance.
• 9. marts 2009: Inland Revenue Department comments on current transfer pricing risks in New Zealand
  
  In the past year, the New Zealand Inland Revenue Department has stepped up its review activity of transfer pricing issues. The IRD has increased both the size of the team and the training given to general audit staff.
• 6. marts 2009. New Mexican rules on transfer pricing
  
  New Miscellaneous Rules on transfer pricing, published February 20, 2009 place a significant burden on both taxpayers and the independent accountants issuing their annual statutory tax reports, beginning with calendar year 2008.
• 4. marts 2009: United States - APA Program open to adjustments to address the current recession
  
  The U.S. Advance Pricing Agreement Program is considering various ways that current and prospective APAs might be tailored to take into account the current recessionary economic conditions.
• 2. marts 2009: Australia - Employee share acquisition plans under transfer pricing review
  
  he Australian Taxation Office has begun a project focussing on reviewing employee share acquisition plans of Australian multinational companies.
• 27. februar 2009: Transfer pricing implications for the banking and capital markets sector stemming from the credit crisis
  
  Unprecedented turbulence in the world's financial markets has lead to historical events with consolidation, mergers, and even the demise of well-established financial institutions.
• 24. februar 2009: China continues to strengthen transfer pricing administration in 2009
  
  China's State Administration of Taxation recently issued a circular, Guo Shui Fa [2009] No. 1, outlining the work plan for tax collection and administration in 2009.
• 20. februar 2009: United States - Treasury and IRS issue temporary and proposed cost sharing regulations
  
  On December 31, 2008 the Treasury Department and the Internal Revenue Service issued temporary and proposed regulations providing guidance on the treatment of cost sharing arrangements
• 20. februar 2009: Australia - ATO releases Roche Products Pty Ltd v Commissioner of Taxation Decision Impac
  
  On 23 January 2009 the Australian Taxation Office released its Decision Impact Statement in relation to the case Roche Products Pty Ltd v Commissioner of Taxation [Roche].
• 19. februar 2009: New Greek transfer pricing documentation rules
  
  New legislation in Greece has introduced requirements to file a list of related party transactions shortly after the year end and then to provide transfer pricing documentation on request.
• 30. januar 2009: Canada - CRA announces major changes in T106 reporting:
  
  CRA issued a revised T106 form1 that significantly expands the disclosure of financing and derivative transactions.
• 23. januar 2009: Thailand - First bilateral advance pricing agreements concluded
  
  Thailand has concluded its first two bilateral advance pricing agreements in 2008. Both BAPAs are with Japan. The applications for BAPA were the first two applications lodged back in the first half of 2006. One of the applicants is a manufacturer of air conditioning and refrigerating equipment. The other is a manufacturer of small bearings and components used in telecommunication equipment and household electrical appliances.
• 19. januar 2009: The Netherlands - Developments on the treatment of intra-group interest
  
  It would currently appear that the Secretary of State's primary focus lies on the "de-fiscalisation" of intra-group interest, i.e. interest received from or interest paid to affiliated parties will be (partially or completely) tax exempted.
• 7. januar 2009: China issues final regulation on transfer pricing and other special tax adjustments
  
  China's State Administration of Taxation has finalised the Administrative Regulation on Special Tax Adjustments, which lays out the final version of China's rules on administering tax adjustments relating to transfer pricing as well as other special areas such as thin capitalization, controlled foreign corporations, and general anti-tax avoidance.
• 2. januar 2009: Canada - Canadian tax authorities release guidance on Accelerated Competent Authority Procedure
  
  The Canada Revenue Agency recently released Transfer Pricing Memorandum-12 which provides for the resolution of a Mutual Agreement Procedure case to be applied to subsequent years through use of the ACAP.
• 14. januar 2009: Mandatory arbitration for the United States and Germany
  
  The United States and German competent authorities has signed a Memorandum of Understanding agreeing to a set of guidelines that detail the operation of the mandatory binding arbitration provision of the Germany-United States Tax Treaty. Below is a summary of the major provisions of the operating guidelines for mandatory arbitration.
• 1. januar 2009: United States - IRS Issues Temporary and Proposed Cost Sharing Regulations
  
  The Internal Revenue Service has issued long-promised temporary and proposed cost sharing regulations . The Temporary Regulations provide further guidance and clarification regarding methods under section 482 to determine taxable income in connection with a cost sharing arrangement
• 31. december 2008: United States - Transfer pricing in a recession, what companies should consider
  
  The U.S. represents approximately 20 percent of the global economy, and the impact of the continuing economic crisis in the U.S. is both far reaching and being felt globally.
• 29. december 2008: Mexican authorities are scrutinizing Maquiladoras
  
  A significant number of Maquiladora reviews are being initiated and the tax authorities are focusing on several factors, including scrutiny as to the application of the presidential decree on transfer pricing matters.
• 22. december 2008: Australia - Commissioner puts multinationals on notice
  
  Manage your tax affairs responsibly because the ATO is watching. And, not surprisingly, transfer pricing will feature prominently on the ATO's agenda.
• 18. december 2008: Australia - National Tax Liaison Group Transfer Pricing Subcommittee Meeting
  
  This article summarises the key matters discussed, which included: GST and Customs Compliance with Transfer Pricing Adjustments APA Program Review Update ATO Transfer Pricing Compliance Business Restructures Update Guarantee Fee and Intra Group Loans Paper Update OECD Update
• 8. december 2008: Canada - Canadian tax authorities issue 2008 annual report on the Advance Pricing Arrangement ("APA") program
  
  Update to PKN Alert Canada - Panel discussion with the Canadian Competent Authority regarding the Mutual Agreement Procedure program issued November 6, 2008
• 30. november 2008: Australia - Australian Taxation Office releases 2007-08 APA program update
  
  The Australian Taxation Office has released its annual report on the Advance Pricing Arrangement program, providing an analysis of the program's completed cases for the financial year ended June 2008
• 3. december 2008: Japan - Revision of the NTA's Commissioner's Directive on the Operation of Transfer Pricin
  
  On October 22, 2008 the National Tax Agency issued revisions to the Commissioner's Directive on the Operation of Transfer Pricing. The Transfer Pricing Guidelines are prepared by the NTA to provide guidance to the Japanese tax authorities on the administration of the Japanese transfer pricing law.
• 2. december 2008: China - Update on upcoming transfer pricing documentation requirements and disclosure forms
  
  The State Administration of Taxation in March this year drafted a set of administrative measures for contemporaneous transfer pricing documentation. In this PKN article, we aim to share our insights on what potential changes are being proposed to the critical areas in the draft TPD Requirements.
• 12. december 2008: Alert Australia - Transfer pricing and R&D
  
  Limitations on access to Government research and development concessions have meant that many multinational clients have either not undertaken R&D at all in Australia or left the risks of R&D failure and rewards of R&D success with the Australian company. That dynamic has created a range of difficult transfer pricing issues to resolve.
• 30. november 2008: Ireland - Legislative change in relation to correlative adjustments
  
  Finance Bill 2008, which was released on 20th November, introduces a significant change with respect to Irish taxpayers claiming tax relief for compensation paid to a related party in a foreign jurisdiction as a result of a transfer pricing adjustment.
• 24. november 2008: PwC submits framework for a response to OECD on the Transfer Pricing Aspects of Business Restructurings
  
  PricewaterhouseCoopers has prepared a framework for a response to the OECD Discussion Draft on the Transfer Pricing Aspects of Business Restructurings issued on 19 September 2008 that identifies the principal issues arising with a brief discussion of each.
• 7. november 2008: Q&A session with Australian Competent Authority
  
  PricewaterhouseCoopers recently hosted a global transfer pricing conference where Competent Authorities from Australia, the U.S., Canada and the U.K. all presented their perspectives on the Competent Authority and APA processes. This PKN summarizes some points of interest arising from the comments
• 6. november 2008: Panel discussion with the Canadian Competent Authority regarding the Mutual Agreement Procedure program
  
  During the recent 2008 PricewaterhouseCoopers LLP Global Transfer Pricing Conference held in Vancouver, Canada, Patricia Spice, the Canadian Competent Authority in respect of the MAP program under Canada's Income Tax Treaties, and Tam Nguyen, Treaty Specialist and MAP coordinator for the Canada Revenue Agency participated in a panel discussion.
• 20. november 2008: ATO reviews inappropriate shifting of business losses into Australia
  
  The Australian Taxation Office has issued a taxpayer alert advising taxpayers that shifting of business losses into Australia will be under increased scrutiny.
• 5. november 2008: Q&A session with the UK Competent Authority
  
  During the recent 2008 PricewaterhouseCoopers LLP Global Transfer Pricing Conference in Vancouver, Canada, participants had the opportunity to hear from and ask questions directly of Ms. Diane Hay, Deputy Director of Corporate Tax and VAT of HMRC.
• 4. november 2008: U.S. Competent Authority discusses current transfer pricing issues in turbulent times
  
  PricewaterhouseCoopers recently hosted unique separate-country breakout sessions with the Competent Authorities from four of the world's key jurisdictions as part of its annual Global Transfer Pricing Conference in Vancouver, Canada.
• 31. oktober 2008: Competent Authorities address transfer pricing issues in the gathering "perfect storm" of audits and disputes
  
  Panel of Competent Authority Representatives: Australia, Canada, U.K., and U.S.
• 3. november 2008: China - Thin capitalization ratios
  
  The Ministry of Finance and State Administration of Taxation of China have jointly issued a circular to set out the prescribed thin capitalization ratios. This is the first time the prescribed debt/equity ratios and other relevant rules are released since the introduction of thin capitalization concept by the new China Corporate Income Tax Law.
• 23. oktober 2008: Korean National Tax Service releases 2007 APA Annual Report
  
  The 2007 APA Annual Report has been highly anticipated and represents the first time the NTS has released official APA statistics to the public.
• 21. oktober 2008: Taiwan - Modification to safe harbor ruling
  
  the Taiwan Executive Yuan's Tax Reform Commission has concluded to modify section of the current safe harbor ruling in respect to profit seeking enterprises’ requirement to compile contemporaneous transfer pricing documentation.
• 20. oktober 2008: Korea proposes penalty relief for taxpayers maintaining contemporaneous transfer pricing documentation
  
  The Ministry of Strategy and Finance announced various proposed amendment to tax laws which include provisions to provide penalty relief to taxpayers maintaining contemporaneous transfer pricing documentation.
• 15. oktober 2008: Ruling of the Indian Tax Tribunal on the transfer pricing issue of a captive software development company
  
  In a recent ruling, the Bangalore Bench of the Income Tax Appellate Tribunal has thrown further light on some of the controversial issues plaguing Indian transfer pricing regulations.
• 14. oktober 2008: Australia - ATO commences 'risk profiling' of 200 SMEs
  
  In its recent 2008-09 Compliance Program release, the ATO stated its intention to 'risk assess' all Small to Medium Enterprises with turnover of between A$100 and A$250 million.
• 11. oktober 2008: The internal restructuring of the China State Administration of Taxation could have profound impact on large enterprises in China
  
  After the restructuring, the number of departments dealing with transfer pricing matters at the SAT will be increased from one to two. A new department, Large Enterprise Tax Administration Department, will be formed to focus on the tax administration of large enterprises which are the key taxpayers in China
• 6. Oktober 2008: Brazil - Latest Transfer Pricing and IFRS developments
  
  The Brazilian Congress has enacted Law 11,727/2008, portions of which contain some potentially significant changes to Brazilian domestic tax law. Most notably, the new law introduced an expanded definition of low-taxed jurisdiction as that term applies in the context of Brazil's transfer pricing rules.
• 25.september 2008: Tax Tribunal decision on transfer pricing issues of Indian consumer electronics major
  
  The Indian Income Tax Appellate Tribunal has pronounced a decision on various Transfer Pricing (TP) issues relating to the Indian wholly owned subsidiary of a consumer electronics group headquartered in Japan.
• 22. september 2008: Sweden to launch an APA programme
  
  The Swedish Tax Agency issued a proposal for an APA programme, which broadly follows the OECD Guidelines and the Guidelines for APAs in the European Union.
• 9. september 2008: The Austrian tax authorities' requirements regarding benchmarking studies
  
  The Austrian tax authorities have gained much experience lately by increasing the number of transfer pricing audits. They have now formed a view on what constitutes a reasonably reliable process for using databases to provide comparable data on margins or profits.
• 9. september 2008: Sweden - Yet another inter-company interest case settled in the administrative court of appeal
  
  Following the Fiskeby case, where the Swedish Tax Authority adjusted a company's intra-group interest payments to the average bank lending rate due to lack of proper documentation, another important case has been settled in the administrative court of appeal.
• 5.september 2008: Malaysia - New transfer pricing and thin capitalisation provisions
  
  The 2009 Malaysian budget announced on the 29 August 2008 has proposed to introduce new specific legislative provisions on transfer pricing as well as the concept of thin capitalisation.
• 4. september 2008: Dutch Supreme Court applies the arm's length principle to loan
  
  In a decision of May 9, 2008 the Dutch Supreme Court applied the arm's length principle to an inter-company loan agreement within a domestic context.
• 21. september 2008: OECD Releases Discussion Draft on the Transfer Pricing Aspects of Business Restructurings
  
  OECD has released its much anticipated Discussion Draft on Transfer Pricing Aspects of Business Restructurings. This document contains four draft issues notes including coverage of specifically internal business reorganizations designed to shift risks, intangible property and income among members of a multinational group of corporations.
• 3. september 2008: New transfer pricing rules approved in Kazakhstan
  
  The new transfer pricing rules apply to certain cross-border transactions and, under certain circumstances, to domestic transactions.
• 27. august 2008: United States - PwC launches new Thought Leadership
  
  This is the latest installment in our Transfer Pricing Perspectives series
• 27. august 2008: India - Payment of ALP to Dependent Agent PE would extinguish tax liability of foreign enterprise
  
  The issue in dispute has been whether a foreign company having an agency permanent establishment in a host country is taxable in that country, in a scenario where it has remunerated its agent on an arm's length basis.
• 18. august 2008: Increased transfer pricing audit environment in Sweden
  
  The Swedish Tax Authority has publicly stated that transfer pricing audits will be a top priority for them going into 2008
• 8. august 2008: Singapore tax authorities release circular on Transfer Pricing Consultation
  
  As a follow up to the circular on Transfer Pricing Guidelines introduced in February 2006, the Singapore tax authorities have issued its circular on Transfer Pricing Consultation to "help taxpayers comply with the arm's length standard in related party transactions."
• 12. august 2008: Australia - The Carpenter decision - It's all about the facts
  
  The High Court of Australia has handed down a decision on 31 July 2008 in the matter of W.R Carpenter Holdings Pty Limited and W.R Carpenter Australia Pty Limited v the Commissioner of Taxation
• 12. august 2008: Amendments to Russian Transfer Pricing Rules will be Considered by the Russian Government in September 2008
  
  The Russian Ministry of Finance has been attempting to reform Russian transfer pricing rules for a number of years.
• 11.august 2008: Portuguese Tax Authorities issue Specific Regulations on APAs
  
  According to the new decree, the taxpayers and the tax authorities may establish unilateral, bilateral or multilateral agreements, on a taxpayer's future transfer pricing policy, in order to ensure compliance with the arm's length principle.
• 1. august 2008: German Upper House Approves Ordinance on Business Restructuring
  
  The German Upper House has approved an Ordinance on Business Restructurings or - in the German terminology - on the cross-border transfer of functions (Funktionsverlagerungen).
• 8. maj 2008: Indian Tax Tribunal recognize 'tested party' concept and foreign benchmarking studies
  
  The Indian Tax Tribunal pronounced its ruling on a tax appeal arising from a transfer pricing adjustment imposed on an Indian construction and engineering services company providing concept-through-completion services for implementing core-sector and high-technology projects
• 3. maj 2008: Australia - National Tax Liaison Group (NTLG) - Transfer Pricing Subcommittee Meeting
  
  The Australian Taxation Office's forum for taxpayers and tax professionals to raise and discuss transfer pricing issues, the National Tax Liaison Group Transfer Pricing Subcommittee, met in Melbourne on 10 April 2008. This article summarises the key matters discussed, which included:
• 23. april 2008: United States / China - IRS to Open New Office in Beijing
  
  The Internal Revenue Service plans to open an office in the U.S. Embassy in Beijing in late 2008. The Beijing office is the latest of the IRS' overseas posts and demonstrates the increasing importance of the Asia-Pacific Region in general and China in particular.
• 13. maj 2008: United States - Summary of Recent Discussions at ABA Conference Regarding the IRS'; Interpretation of the Income Method Under the Proposed Cost Sharing Regulations
  
  The American Bar Association Section of Taxation held its 2008 May Meeting in Washington, DC. Dr. Irving Plotkin (PricewaterhouseCoopers) served as moderator on a panel that discussed the implications of the IRS' interpretation of the income method in the coordinated issue paper on buy-in royalties dated September 27, 2007.
• 9. april 2008: New Belgium-U.S. Tax Treaty introduces mandatory arbitration
  
  When the competent authorities are unable to reach an agreement, the case shall be resolved through arbitration within six months from referral
• 8. april 2008: Australia - Roche Products Pty Limited v The Commissioner of Taxation: A bitter pill to swallow, but for whom?
  
  A preliminary decision was handed down on from the Administrative Appeals Tribunal. The issue involved the transfer prices for pharmaceutical products acquired by Roche Products Pty Limited from its parent company Roche Holdings Limited of Switzerland and other group companies
• 5. april 2008: New Transfer Pricing Documentation Requirements under Consideration in France
  
  Under current legislation, there are no strict transfer pricing documentation requirements in France. Rather companies are required to provide information regarding TP under Section L.13 B of the French Tax Procedure Manual upon request in connection with corporate tax audits.
• 30. marts 2008: OECD Paper on Transactional Profit Methods: Discussion Draft for Public Comment
  
  In this PKN we would like to draw your attention to the publication issued on 25 January 2008 by the OECD of a series of draft Issues Notes for comment in relation to Transactional Profit Methods (i.e., the profit split and the transactional net margin methods)
• 2. april 2008: Germany/United States - US-German income tax treaty ratified - Transfer Pricing Implications
  
  The US Senate has finally approved the new protocol amending the 1989 US-German income tax treaty. The protocol to the new US-German tax treaty has been signed by both countries on June 1, 2006 and entered into force on December 28, 2007 with the exchange of the instruments of ratification.
• 2. april 2008: First Australian Transfer Pricing Case
  
  A preliminary decision was handed down today by the Administrative Appeals Tribunal in favour of the Australian Taxation Office in the first substantive transfer pricing case in Australia. The case, involved the transfer price for the purchase of pharmaceutical products by the Australian subsidary of a European multinational.
• 7. marts 2008: Italian Tax Authorities Issue Guidelines for the Prevention and Challenge of Tax Avoidance
  
  The Italian Tax Authorities has issued a Circular Letter providing guidelines for the prevention and challenge of tax avoidance. In particular, the guidelines state that the usefulness of tax enquiries must be supported by careful selection of the taxpayers to be challenged.
• 7. marts 2008: Indonesia - New Developments in Indonesian Transfer Pricing
  
  Indonesian tax legislation requires the adoption of the arm's length principle for international and domestic transactions under common control. Control is defined as 25% or more common ownership or effective control by one taxpayer.
• 13. marts 2008: United States - IRS Industry Directive on Section 936 Exit Strategies
  
  The IRS Large and Midsize Business Division has issued another Industry Directive as well as audit guidelines addressing certain cross border issues that arise in connection with transfers of the operations former section 936 possession corporations to controlled foreign corporations
• 13. februar 2008: Supreme Court dismisses review petition filed by Indian Revenue
  
  In July 2007, the Supreme Court of India had pronounced a landmark Ruling in the case of Morgan Stanley, an investment bank incorporated in USA.
• 6. februar 2008: Negotiating China's Tax System and APA Framework: Lessons from the November 2007 China-Korea Accord
  
  This article is reproduced from its original publication entitled "Advance Pricing Agreements - Negotiating China's Tax System and APA Framework: Lessons from the November 2007 China-Korea Accord" in the January 2008 issue of BNA International's Tax Management Transfer Pricing Report.
• 4. februar 2008: Turkey - Pharma Companies' Tax Bases are Re-Assessed at Recent Tax Audits in Turkey Under the Subject of Transfer Pricing
  
  During the 2007 year, the Turkish Ministry of Finance significantly increased its number of transfer pricing audits against companies, with a particular emphasis on the pharmaceutical sector.
• 10. december 2007: Treasury Report to US Congress Addresses Income Stripping and Transfer Pricing Regulatory Gaps
  
  On November 28, 2007, the Department of Treasury issued a report in response to sections 424 and 806 of the American Jobs Creation Act of 2004