Ireland releases details of a new Transfer Pricing Compliance Review programme

Tax Controversy & Dispute Resolution ()

The Irish tax authorities (tax authority) have released details of a new Transfer Pricing Compliance Review (TPCR) programme under which they will monitor the degree of compliance with Ireland's new Transfer Pricing rules.

Ebrief No 62/2012 issued on 26 November sets out the tax authority’s approach to monitoring compliance with Ireland’s Transfer Pricing rules contained in Part 35A of the Taxes Consolidation Act (TCA) 1997. The publication of the ebrief follows the recent lodgement in September 2012 of the first batch of corporate tax returns in Ireland for which the new Irish Transfer Pricing Rules may apply, and provides the first official guidelines to companies in Ireland of the nature of the review programme and the approach that will be followed by the tax authority in monitoring compliance with Ireland's new Transfer Pricing rules.