International Transfer Pricing Journal

Author:Nguyen, P.T.

Published online:22 February 2013

2013 (Volume 20), No. 2

International Transfer Pricing Journal

This article summarizes transfer pricing enforcement activities, audit results and other related concerns; discusses the Action Plan to address transfer pricing of foreign enterprises for 2012-2015; and provides comments on recent developments and the future transfer pricing landscape.

Author:Gregory, A.; Casley, A.J.; Naish, K.

Published online:25 February 2013

2013 (Volume 20), No. 2

International Transfer Pricing Journal

This article presents an overview of the new UK patent box regime that comes into effect as from 1 April 2013. The impact will be that companies will be subject to a reduced rate of tax on the portion of profits derived from qualifying intellectual property. The reduced rate is 10%. This will be phased in over four years, from 2013 to 2017.

Author:Lowell, C.H.; Wells, B.

Published online:25 February 2013

2013 (Volume 20), No. 2

International Transfer Pricing Journal

The authors consider whether existing model treaties provide (i) protection for the tax base of the respective countries and (ii) guidance to MNEs for framing their effective tax rate strategies. The historical origin of the OECD and UN Model Conventions is presented, along with suggestions for a way forward under present circumstances.

Author:Spencer, K.; Kelleher, M.

Published online:28 February 2013

2013 (Volume 20), No. 2

International Transfer Pricing Journal

A recent case in the US Tax Court has the potential to severely damage the Internal Revenue Service’s advance pricing agreement programme. The case concerns the unilateral termination by the IRS of a taxpayer’s APAs, and the taxpayer’s efforts to compel the IRS to honour the APAs as binding contracts.

Author:Krishnamurthy, V.

Published online:28 February 2013

2013 (Volume 20), No. 2

International Transfer Pricing Journal

The Supreme Court of Canada has issued a ruling in the GlaxoSmithKline case – its first-ever ruling in a transfer pricing case. This article analyses the Court’s decision and offers lessons to be learned therefrom. A similar case in India is also considered.

Author:Shah, R. (Rohan); Tolani, A.; Bhatnagar, A.

Published online:6 March 2013

2013 (Volume 19), No. 2

Asia-Pacific Tax Bulletin

This article outlines the issues faced in India surrounding the transfer pricing issues of marketing intangibles. Indian jurisprudence as well as international guidance on these issues are also discussed.

Author:Nijssen, D.J.R.

Published online:24 April 2013

2013 (Volume 20), No. 3

International Transfer Pricing Journal

The EU JTPF published the final version of its Report on Cost Contribution Arrangements on Services Not Creating Intangible Property on 7 June 2012. This article analyses that report and views it from a critical perspective.

Author:Ditz, X.; Schneider, M. (Markus)

Published online:2 May 2013

2013 (Volume 20), No. 3 (Next Issue)

International Transfer Pricing Journal

Author:Ditz, X.; Schneider, M. (Markus)

Published online:2 May 2013

2013 (Volume 20), No. 3 (Next Issue)

International Transfer Pricing Journal

A recent decision of the Federal Tax Court considered the tax treatment of payments made for services rendered by a Dutch company to its German affiliate. The authors analyse the case and its practical implications for taxpayers.

Author:Hawkes, J.

Published online:3 May 2013

2013 (Volume 20), No. 3

International Transfer Pricing Journal

The current international tax climate is high on the political agenda. Public pressure and possible consumer actions may lead to voluntary payments of corporate income taxes. Sometimes tax authorities morally appeal to companies and individuals to make tax payments also where the statute of limitations has expired. At other times tax authorities make repayments of taxes on the basis of hardship considerations. The present survey of the International Transfer Pricing Journal will focus on the phenomenon of voluntary payment of taxes and voluntary adjustments of transfer prices. Country report on the United Kingdom.

Author:Boone, P.; Haupt, M.

Published online:3 May 2013

2013 (Volume 20), No. 3

International Transfer Pricing Journal

This article deals with the challenge of documenting business restructurings for transfer pricing purposes. It links the discussion to the ongoing debate of risk management for transfer pricing, and suggests how MNEs can build a business case for change and sufficiently evidence the operational transformation by following an efficient, contemporaneous documentation approach.

Author:Wang, J. (Jingyi)

Published online:3 May 2013

2013 (Volume 20), No. 3 (Next Issue)

International Transfer Pricing Journal

This article analyses the OECD Discussion Draft on transfer pricing of intangibles released in 2012. The author compares the new Draft with the existing OECD transfer pricing guidelines on intangibles. Improvements and imperfections within the Draft have been highlighted.

Author:Andresen, U.; Kerenyi, D.

Published online:6 May 2013

2013 (Volume 20), No. 3 (Next Issue)

International Transfer Pricing Journal

A recent decision of the Federal Tax Court concerned the blocking effect of article 9 of the OECD Model and its derivatives over the special conditions developed in prior jurisprudence of the Federal Tax Court.

Author:Lasiński-Sulecki, K.

Published online:10 May 2013

2013 (Volume 20), No. 3

International Transfer Pricing Journal

The author considers whether transfer pricing adjustments of any kind (primary, corresponding and/or secondary adjustments) for income tax purposes have an impact on the taxable amount for VAT or customs value. This issue is analysed under both international law in force in Poland and under Polish domestic law.

Author:Vegt, J. van der; Sporken, C.J.E.A.

Published online:8 May 2013

2013 (Volume 20), No. 3 (Next Issue)

International Transfer Pricing Journal

The current international tax climate is high on the political agenda. Public pressure and possible consumer actions may lead to voluntary payments of corporate income taxes. Sometimes tax authorities morally appeal to companies and individuals to make tax payments also where the statute of limitations has expired. At other times tax authorities make repayments of taxes on the basis of hardship considerations. The present survey of the International Transfer Pricing Journal will focus on the phenomenon of voluntary payment of taxes and voluntary adjustments of transfer prices. Country report on the Netherlands.

Author:Pichhadze, A.

Published online:15 May 2013

2013 (Volume 20), No. 3

International Transfer Pricing Journal

GlaxoSmithKline Inc. v. The Queen is a seminal Canadian transfer pricing case. On final appeal to the Supreme Court of Canada, the Minister of National Revenue asked the Court to determine whether the Court of Appeal erred in applying the reasonable business person test. The author critically analyses the Supreme Court’s handling of the Minister’s question and concludes that the Supreme Court erred in affirming the test of the Court of Appeal. Moreover, the Supreme Court infused further uncertainty as to which test applies by seeming to have acknowledged the relevance of both an empirical arm’s length test and a reasonable business person test.

Author:Peracin, G.; Benettin, S.

Published online:1 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

The authors consider the recently published report by the Italian tax administration containing data on international standard ruling procedures and the first APAs agreed in Italy.

Author:Jhabakh, P.R. Kumar

Published online:24 June 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

A recent ruling of the Income Tax Appellate Tribunal considered the method to be used to determine the arm’s length price in a sale of shares among associated enterprises.

Author:Roberge, C.

Published online:14 June 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

This article examines the arm’s length remuneration of a pharmaceutical distributor who contributes to the value of a marketing intangible owned by a non-arm’s length party. The author critically reviews the abundant literature on marketing intangibles and evaluates the applicability of the main transfer pricing methodologies.

Author:Yuan, S.; Liu, J.; DeSouza, G.R.

Published online:3 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

The authors consider the current state of transfer pricing in China, including changes in the landscape over time that should be considered by taxpayers so as to minimize disputes with the tax authorities.

Author:Heriford, B.; Keates, H.A.; Lamoureux, H.; Wright, D.R.

Published online:2 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

This article discusses the evolution of the approach of the IRS to cost sharing arrangements; conflicts that were resolved in the courts; and future approaches that taxpayers must consider when constructing cost sharing arrangements.

Author:Waal, J.

Published online:2 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

In 2012 the Finnish Tax Administration put the Transfer Pricing Programme in operation. All transfer pricing related tasks of the FTA have been centralized in this Programme. The author describes the set-up and purposes of the Programme and discusses the results of its first year of functioning.

Author:Barmentlo, D.G.; Valente, P.

Published online:10 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

The current international tax climate is high on the political agenda. Public pressure and possible consumer actions may lead to voluntary payments of corporate income taxes. Sometimes tax authorities morally appeal to companies and individuals to make tax payments also where the statute of limitations has expired. At other times tax authorities make repayments of taxes on the basis of hardship considerations. The present survey of the International Transfer Pricing Journal will focus on the phenomenon of voluntary payment of taxes and voluntary adjustments of transfer prices. Report on the European Union.

Author:Kim, J-h.

Published online:10 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

This article describes some recent efforts by the Korean tax authorities to enact statutory provisions setting out the standards in determining arm’s length guarantee fees.

Author:Raunio, M.

Published online:10 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

The author considers a March 2013 court ruling on location savings – the first published ruling on this subject in Finland.

Author:Herrington, M.; Lowell, C.H.

Published online:5 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

The current international tax climate is high on the political agenda. Public pressure and possible consumer actions may lead to voluntary payments of corporate income taxes. Sometimes tax authorities morally appeal to companies and individuals to make tax payments also where the statute of limitations has expired. At other times tax authorities make repayments of taxes on the basis of hardship considerations. The present survey of the International Transfer Pricing Journal will focus on the phenomenon of voluntary payment of taxes and voluntary adjustments of transfer prices. Country report on the United States.

Author:Brittingham, M.; Butler, M.St.J.R.

Published online:5 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

The authors analyse the OECD report on base erosion and profit shifting, and consider the factors affecting the increasing focus on this issue by the OECD and the tax administrations of various countries.

Author:Damsma, B.W.A.M.; Łukosz, K.

Published online:4 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

The authors consider a recent ruling of the Dutch Supreme Court regarding the deductibility of a loss suffered following default under a cross-guarantee agreement. This ruling has potentially far-reaching implications for intercompany guarantee arrangements.

Author:Perrou, K.

Published online:4 July 2013

2013 (Volume 20), No. 4

International Transfer Pricing Journal

The author considers the new Greek APA regime and new transfer pricing legislation. Remarks are also offered on the newly introduced provisions.

Author:Krishnamurthy, V.

Published online:16 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

The author considers the latest transfer pricing controversy to originate from India, namely the attempt by the tax authorities to tax the discount on shares issued to a foreign parent company, as well as the assertions made by taxpayers and the tax authorities to defend their positions.

Author:Konečná, M.; Drašar, T.

Published online:16 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

The Supreme Administrative Court has amended its approach to the burden of proof in the area of transfer pricing. This article summarizes Decision 1 Afs 99/2012-52 of 13 March 2013, which has a significant impact on how transfer pricing matters should be managed in companies located in the Czech Republic.

Author:Stroykova, S.; Joshi, A.; Slavinskaya, N.

Published online:21 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

This article outlines the main legal requirements regarding transfer pricing notifications, highlights potential challenges that Russian taxpayers may face and provides practical recommendations in this regard.

Author:Oka, N.

Published online:21 March 2014

2014 (Volume 21), No. 2

International Transfer Pricing Journal

The author discusses key features of transfer pricing taxation in Japan and the main changes that have been made to it since its introduction in 1986.

Author:Butler, M.St.J.R.; White, L.

Published online:13 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

In July 2013, the Australian Treasury released a Scoping Paper titled “Risks to the Sustainability of Australia’s Corporate Tax Base”. The authors summarize the main issues raised in the Paper, comment on a number of aspects of the Treasury’s position, consider whether the Paper foreshadows a significant tax regime change and suggest that dealing with the various issues by way of multilateral action may not be a straightforward process.

Author:Smith, A.M.C.

Published online:7 November 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

The author considers a government-commissioned report on tax avoidance by multinationals in New Zealand, how the New Zealand government is taking steps to protect its domestic tax base and the latest developments on this issue.

Author:Cooper, J.L.; Skopljak, Z.

Published online:8 November 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

This article provides an overview of the current state of play of transfer pricing in the Western Balkan countries, discussing the legislative framework as well as the administrative practice and recent developments in Albania, Bosnia and Herzogovina, Kosovo, Macedonia FYR, Montenegro and Serbia.

Author:Abdulrazaq, A.O.

Published online:30 October 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

The author analyses the first Nigerian transfer pricing regulations, issued by the tax authorities in 2012. Also considered are future prospects and challenges for taxpayers and tax professionals in the field of transfer pricing.

Author:Herrington, M.; Lowell, C.H.

Published online:31 October 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

The authors provide an overview of the original OECD report on base erosion and profit shifting and the recently released action plan.

Author:Helderman, L.; Sporken, C.J.E.A.; Okten, R.; Kanter, M.

Published online:12 September 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

The authors compare current transfer pricing principles and possible future OECD-based transfer pricing principles as set out in the 2012 OECD Discussion Draft on intangibles; consider the positions taken by the US and Dutch tax authorities as regards arm’s length consideration related to intangibles; and analyse court cases from various jurisdictions in order to illustrate third-party behaviour in the area of intangibles.

Author:Chakravarty, A.; Ray, S.

Published online:6 November 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

With a view to establishing a degree of certainty and uniformity in the audits of development centres engaged in research and development activities, guidance has been provided to the tax authorities in the form of Circular 6. The authors discuss the contents of the new Circular, along with developments prior to its issuance and future prospects for taxpayers.

Author:Hyung Kim, T.

Published online:8 January 2014

2013 (Volume 21), No. 1 (Next Issue)

International Transfer Pricing Journal

Guidance arrived in Korea in 2013 to aid taxpayers in determining the taxation of internal dealings between a domestic place of business and other segments of the foreign corporation of which it is part. The author considers this guidance, discusses the importance of documentation, and examines a controversial area that still needs to be the subject of amendments.

Author:Biçer, R.

Published online:14 March 2014

2014 (Volume 21), No. 2

International Transfer Pricing Journal

This article addresses the current status quo of the mutual agreement procedure, tackling the various issues related to article 25 of the OECD Model Convention and the EU Arbitration Convention (90/436). Certain obstacles to a proper functioning of the MAP are also addressed, including the underlying reasons of why the MAP has been an ineffective process and double taxation persists even where a MAP is put in effect.

Author:Castro Jurado, S.

Published online:9 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

Despite the fact that since 2003 the Costa Rican tax administration has been able to adjust transactions carried out between related parties if they were not in accordance with the arm’s length principle, only with the publication of Decree 37898-H in September 2013 have general transfer pricing rules finally been established.

Author:Bilaney, S.K.

Published online:12 March 2014

2014 (Volume 21), No. 2

International Transfer Pricing Journal

The author considers various manufacturing models (such as full-fledged manufacturer; licensed manufacturer; and contract or toll manufacturer); function, asset and risk analysis under each model; arm’s length remuneration under each model; conversions of manufacturing models and related issues; the OECD response to base erosion and profit shifting; exposure to location savings and permanent establishment risk under various models.

Author:Katz, H.; González, M.J.; Martínez, Á.

Published online:10 March 2014

2014 (Volume 21), No. 2

International Transfer Pricing Journal

With a focus on comparing circumstances in OECD and Latin American countries, the authors consider the OECD Revised Discussion Draft on Transfer Pricing of Intangibles and “other market features” as part of a transfer pricing analysis.

Author:Waris, A.

Published online:6 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

Rwanda is currently reviewing its OECD-based transfer pricing rules and is drafting guidelines under the Commissioner General’s mandate that will allow for more detailed regulations to be put in place. There is, however, no recent activity on transfer pricing to be noted, although it is clear that the revenue authority staff are now much better trained regarding this issue and are better able to identify cases of mis-pricing in the future.

Author:Joseph, A.

Published online:10 March 2014

2014 (Volume 25), No. 2

International VAT Monitor

Just like in many other jurisdictions, the reverse charge mechanism applies in Australia to supplies made by non-resident businesses. Whereas other jurisdictions may also apply the reverse charge mechanism to domestic transactions in order to prevent fraud, Australia intends, as the author explains in this article, to extend the scope of that mechanism, for practical reasons, to transfers of businesses as going concerns and sales of farm land.

Author:Hyung Kim, T.

Published online:8 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

Guidance arrived in Korea in 2013 to aid taxpayers in determining the taxation of internal dealings between a domestic place of business and other segments of the foreign corporation of which it is part. The author considers this guidance, discusses the importance of documentation, and examines a controversial area that still needs to be the subject of amendments.

Author:Castro Jurado, S.

Published online:6 March 2014

2014 (Volume 21), No. 2

International Transfer Pricing Journal

Changes made to Peruvian transfer pricing legislation in 2012 are in force from FY 2013. The author considers the positive aspects of these changes, as well as lingering ambiguities for taxpayers.

Author:Cooper, J.L.; Petriashvili, V.; Burkadze, E.

Published online:22 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

This article presents an outline of the legal framework for transfer pricing in Georgia, in light of the specific articles introduced in 2011 and the recently signed decree on this topic.

Author:Toryanik, T.

Published online:19 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

In analysing the possibility of a deemed permanent establishment without carrying on a business in Australia, the author considers a recently released Draft Taxation Ruling, domestic legislation and case law.

Author:Herrington, M.; Lowell, C.H.

Published online:12 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

The authors focus in more detail on some of the specific transfer pricing-related changes that could flow from the BEPS project and offer their insights into how multinationals can be positioning themselves in anticipation.

Author:Korde, A.

Published online:10 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

The author provides a critical analysis of the use of proportionate adjustments in India, arguing that such adjustments are not only inaccurate adjustments but are also not permissible under law.

Author:Monsenego, J. (Jérôme)

Published online:15 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

The author investigates the content of the substance requirement in the OECD Guidelines. When relevant, it is compared to the substance requirement in the US transfer pricing regulations and other sources of international tax law, such as the OECD Model Tax Convention.

Author:Bhatnagar, V.

Published online:20 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

Indian taxpayers hoped that the safe harbour rules in India would bring a reduction in the documentation burden, as well as the burden of drawn-out litigation. The author considers whether these hopes are realized from a taxpayer perspective, and discusses a way forward from the current state of affairs.

Author:Dwarkasing, R.S.J.

Published online:15 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

The author provides a summary of the presentations at the first Maastricht International Transfer Pricing Summit, which focused on key issues and emerging challenges in the dynamic area of transfer pricing.

Author:Helderman, L.; Sporken, C.J.E.A.; Okten, R.

Published online:8 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

In the second article of a series on the transfer pricing aspects of intangibles, the authors examine and summarize the most crucial changes made to the Discussion Draft of 6 June 2012. These changes are discussed in more detail, and conclusions and some recommendations for potential improvements are provided.

Author:Massimiano, A.

Published online:9 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

The author considers guidance issued by the Tax Agency regarding the functioning of mutual agreement procedures under the Arbitration Convention.

2014 (Volume 21), No. 2

Published online:7 March 2014

International Transfer Pricing Journal

Author:Stroykova, S.; Manankova, O.

Published online:15 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

Since April 2013, the Ministry of Finance has issued several Letters that clarify certain transfer pricing provisions of the Russian Tax Code and the taxpayer’s right to aggregate controlled transactions into groups for purposes of preparing the notification on controllable transactions and transfer pricing documentation.

Author:Jhabakh, P.R. Kumar

Published online:10 March 2014

2014 (Volume 21), No. 2

International Transfer Pricing Journal

In the recent ruling in Tellabs India Private Ltd v. The Assistant Commissioner of Income Tax, the Income Tax Appellate Tribunal, Bangalore held that transfer pricing provisions are applicable to the assignment of contracts among associated enterprises. This article analyses the judgment of the Tribunal and its impact on transactions involving associated enterprises, as well as their role in the negotiation of such transactions.

Author:Joseph, A.

Published online:14 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

The author reviews the law relating to thin capitalization as it currently applies and considers a recent Discussion Paper on the arm’s length debt test.

Author:Reyneveld, J.; Sporken, C.J.E.A.

Published online:6 March 2014

2014 (Volume 21), No. 2

International Transfer Pricing Journal

The authors consider the November 2013 Dutch Decree on transfer pricing and the most significant changes that it involves, including those with regard to transfer pricing methods, intra-group services, cost contribution arrangements, BEPS, guarantees and financing, documentation obligations, and mutual agreement procedures.

Author:Rasch, M.; Lozano-Moury, L.; Pala, D.

Published online:13 March 2014

2014 (Volume 21), No. 2

International Transfer Pricing Journal

A Luxembourg court case, in which the arm’s length interest rates applied by a Luxembourg company were scrutinized, leads to the necessity to pay even more attention on applying arm’s length interest rates.

Author:Panse, A.

Published online:16 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

This article traces the history of workforce in place as a possible intangible and critiques the OECD view of this issue. A holistic framework is discussed for considering workforce in place, along with the importance of such framework in a world where tax authorities actively target base erosion and profit shifting.

Author:Bonekamp, M.; Dijkman, J.

Published online:23 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

The authors discuss recent developments, including the 2013 Dutch Transfer Pricing Decree and work by the OECD, and how these may impact the transfer pricing policies of multinational enterprises with a central purchasing function.

Author:Casley, A.J.; Boorman, M.

Published online:10 March 2014

2014 (Volume 21), No. 2

International Transfer Pricing Journal

The authors look back at the key developments in transfer pricing in the United Kingdom over the last year and consider the potential effects on taxpayers.

Author:Diaz de Leon Galarza, J.

Published online:15 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

The author discusses the new rules applicable to maquiladoras pursuant to the 2014 Income Tax Law, the so-called IMMEX Decree and the 2014 Miscellaneous Tax Resolution.

Author:Karyadi, F.; Wicaksono Sungkono, P.

Published online:26 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

The authors consider two recent court cases that address the issue of common control among taxpayers in a transfer pricing context.

Author:Coronado, L.; Nguyen, P.T.

Published online:23 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

Pursuant to an APA pilot programme period and comments collected from a draft circular, the Ministry of Finance issued final APA regulations effective February 2014.

Author:Vistisen, E.

Published online:21 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

The author analyses the first cash pooling decision of the Danish Administrative Tax Court and describes the expected future impact on cash pooling arrangements in Denmark. The decision is also compared to a different outcome in a similar case in Norway.

Author:Paulitsch, S.; Eckerstorfer, M.

Published online:21 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

The authors analyse the implementation of the authorized OECD approach in Austria, specifically under the Austria-Germany Income and Capital Tax Treaty (2000). Potential problems arising in this context are discussed based on a brief case study.

Author:Zucchetti, S.; Petrelli, R.

Published online:21 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

This article provides an overview of the provisions introduced by the Ministerial Decree implementing the new option for the deferral of the Italian exit tax applicable to Italian enterprises migrating to another EU/EEA Member State.

Author:Lowell, C.H.; Herrington, M.

Published online:7 March 2014

2014 (Volume 21), No. 2

International Transfer Pricing Journal

The authors reflect on the progress so far of the OECD BEPS initiative, and consider how multinational groups could be planning in anticipation of the changes that may come out of the process.

Author:Chen, X. (Xinyu)

Published online:28 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

A highly integrated transaction is in essence a form of bilateral monopoly and cooperative game with complete information. The fundamental facts and circumstances of highly integrated enterprises can be used to restore the independent state of affiliated enterprises, and the “Behavioural Game Split” can reveal the arm’s length price of corresponding affiliated enterprises.

Author:Gódor, M.

Published online:15 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

The author considers recent guidance from the Hungarian tax authorities on the application of transfer pricing adjustments to intercompany transactions subsequent to a change in status as related parties.

Author:Patel, V.T.

Published online:4 November 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

This article discusses the recently issued draft safe harbour rules and notes numerous issues that remain to be resolved or which need to be considered further before the rules are finalized.

Author:Musselli, A.

Published online:26 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

The current international tax climate is high on the political agenda. Public pressure and possible consumer actions may lead to voluntary payments of corporate income taxes. Sometimes tax authorities morally appeal to companies and individuals to make tax payments also where the statute of limitations has expired. At other times tax authorities make repayments of taxes on the basis of hardship considerations. The present survey of the International Transfer Pricing Journal will focus on the phenomenon of voluntary payment of taxes and voluntary adjustments of transfer prices. Country report on Italy.

Author:Rybnik, D.

Published online:28 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

Taxpayers in Argentina will have to submit their transfer pricing reports electronically to the tax authorities. The author considers the steps required under the new procedures and addresses potential pitfalls for unwary taxpayers.

Author:Wilkie, S.; McCart, J.

Published online:22 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

The authors consider the recent Canadian Federal Court decision in the Soft-Moc case, the latest in a short string of cases in which taxpayers have unsuccessfully challenged the authority of the Canadian tax authorities to obtain any “foreign based information or document”.

Author:Joseph, A.

Published online:25 October 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

This article considers changes made to transfer pricing rules by the Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Act No. 101 of 2013, as well as announced government intentions to change applicable thin capitalization ratios.

Author:Sarghi, P.; Banders, K.

Published online:16 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

New legislation is now in force that allows taxpayers to conclude advance pricing arrangements. The authors analyse the new legislation and the process to apply for such an agreement.

Author:Wang, J. (Jingyi)

Published online:22 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

The author analyses known details of a recent transfer pricing case involving an adjustment imposed with regard to a business restructuring. Current OECD guidance and Chinese regulations are also considered. Suggestions are provided for drafting Chinese business restructuring regulations.

Author:Escaut, P.; Escaut and Eric Bonneaud, P.

Published online:21 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

The authors consider a recent court case in France on the tax treatment of the intra-group transfer of cash pooling activities, as well as possible future applications of the court’s decision.

2013 (Volume 20), No. 6

Published online:4 November 2013

International Transfer Pricing Journal

Author:Orsini, E. Peixoto; Marcondes, D.G. Peixoto Orsini

Published online:22 August 2013

2013 (Volume 20), No. 5

International Transfer Pricing Journal

The authors consider a recent Supreme Court decision on the country’s controlled foreign corporation rules. Also analysed are two other similar cases which were decided in the same session which also involved the taxation of profits of foreign companies.

Author:Orsini, E. Peixoto; Marcondes, D.G. Peixoto Orsini

Published online:6 January 2014

2014 (Volume 21), No. 1

International Transfer Pricing Journal

This article considers a 2013 ordinance that regulates acceptable interest rates for related-party loans, as well as discussing the shortcomings that have been noted by critics of the ordinance.

Author:Jhabakh, P.R. Kumar

Published online:6 November 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

A recent ruling of the Delhi Income Tax Appellate Tribunal upheld the taxpayer’s allocation of cricket sponsorship (advertising) expense as arm’s length. The author considers the arguments asserted by both sides in this case, as well as the Tribunal’s ruling.

Author:Didenko, V.

Published online:1 November 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

Much tighter transfer pricing rules took effect in Ukraine from 1 September 2013. The author considers the key features of these rules and suggests possible responses by taxpayers.

Author:Heggmair, M.; Boehlke, N.; Ali-Nakyea, A.

Published online:1 November 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

This article looks into central issues which arise when dealing with transfer pricing in so-called developing countries, with a special focus on the development of a transfer pricing system in Ghana.

Author:Prakash, P.

Published online:11 November 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

While recent audits in India have seen transfer pricing adjustments relating to share valuation by companies in related-party transactions (Shell India case) and the tax treatment of contract R&D centres in the IT sector (Microsoft India case), other international tax issues like the treatment of royalties for software use (Nokia India case) and the out-of-court conciliation process (Vodafone case) also attracted considerable attention in 2013. The author considers these emerging issues in the context of transfer pricing provisions and international taxation in India, and suggests a possible course of actions on the basis of his analysis.

Author:Erdős, G.

Published online:7 November 2013

2013 (Volume 20), No. 6

International Transfer Pricing Journal

The author provides a brief outline of some of the Hungarian transfer pricing concepts, summarizes Hungary’s simplification efforts and describes recent legislative changes and their practical consequences.

Author:Douvier, P-J.; Daluzeau, X.

Published online:22 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

Several provisions – such as new requirements regarding transfer pricing documentation and accounting information to provide in the course of a tax audit – were enacted in France at the end of 2013. These measures will increase the transparency of large companies vis-à-vis the French tax authorities. They will also trigger additional constraints for large companies and confirm that transfer pricing will remain a priority in coming tax audits in France.

Author:Phatarphekar, K.R.; Arora, A.

Published online:22 May 2014

2014 (Volume 21), No. 3

International Transfer Pricing Journal

The authors review the Indian advance pricing agreement programme and experiences to date.

Author:Jonsson, S.T.; Birgisson, H.I.

Published online:14 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

The OECD Transfer Pricing Guidelines have been legislatively implemented in Iceland with effect from 1 January 2014. The authors consider the related changes, including documentation requirements and the possibility of obtaining an advance pricing agreement.

Author:Lasiński-Sulecki, K.; Sanecka, K.

Published online:14 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

Developments concerning the tax treatment of business restructurings at the OECD level seem to have influenced the Polish Ministry of Finance. The Ministry of Finance has amended transfer pricing regulations in order to tackle explicitly the problem of business restructurings, and later published its guidelines on the issue. This article summarizes these regulations and the guidelines, and notes certain problems connected with their content.

Author:Bhatnagar, V.

Published online:11 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

The author considers the transfer pricing aspects of intercompany management service fees, and the challenges taxpayers are likely to face in defending such fees in the course of transfer pricing audits…

Author:Bilaney, S.K.

Published online:24 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

The author analyses various business models in the logistics sector, with a special focus on freight-forwarding business and the pricing policy that is typically adopted under each model. Also, necessary guidance is provided on plausible transfer pricing methodologies that may be considered under different models.

Author:Díaz Tong, E.; Arenas Alvarado, K.

Published online:28 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

The 2013 Decree brought concepts and rules to the transfer pricing regime, including changes with regard to the transfer pricing report and informational return, cost contribution arrangements, and transfer pricing-related penalties

Author:Leão, M. Toribio

Published online:24 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

This article approaches the issue of advance pricing agreements created to serve as an alternative mechanism for resolving problems arising under the applicable transfer pricing regime. While APAs can be a very advantageous alternative, they are limited by the principles of legality and equality – limits which are addressed here in order to ascertain the acceptable scope of the functioning of an APA in a system that respects the safeguards of taxpayers as a whole.

Author:Hawkes, J.

Published online:11 September 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

The purpose of this comparative survey is to provide country reports on the concept of substance in international taxation. Although the substance requirement has since long been an important part of the functioning of different taxation rules, the focus on this concept has recently increased. The BEPS initiative, launched by the G20 and led by the OECD, may result in changes to the substance requirement as it is expressed in different kinds of norms such as domestic laws, tax treaties and soft law. The European Union is interested in these developments and adheres to the work of the OECD on BEPS, while conducting certain initiatives on its own.Given these recent developments, the International Transfer Pricing Journal wishes to present an overview of certain issues related to the substance requirement in several jurisdictions. The purpose of this study is to show the complexity, the diversity, but also the similarities between some of the requirements of different countries. At this point, the substance requirements in transfer pricing are deliberately not included in the questionnaire so as to limit the scope of this study. The outline has been prepared in cooperation with Jérôme Monsenego (Associate Professor of tax law, Uppsala University).

Author:Francescucci, D.L.P.; Larochelle, S.

Published online:23 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

Canadian multinational companies may want to note the implications of a recent transfer pricing case in which the Tax Court of Canada held for the tax authority on what constitutes a reasonable discount rate in a non-arm’s length accounts receivable factoring arrangement. Of particular interest is the approach the Court used in determining what it considers an acceptable arm’s length range for an accounts receivable factoring discount and the Court’s views on when “recharacterization” of the transactions might be used by tax authorities. Also, the decision to apply Canadian withholding tax on the secondary adjustment may be important for both Canadian taxpayers and non-residents engaged in cross-border controlled transactions.

Author:Carreño, F.; Irazusta, P.

Published online:24 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

The authors consider a High Court decision on the deductibility of intra-group interest expense, specifically on the application of fraus legis and other anti-avoidance concepts so as to limit such deductibility.

Author:Jhabakh, P.R. Kumar

Published online:23 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

This article discusses the recent decision of the Delhi Income Tax Appellate Tribunal in Bharti Airtel Ltd v. Additional Commissioner of Income Tax, in which the Court held that transfer pricing provisions are not applicable to corporate guarantees provided by a company to its associated enterprises, as such guarantees do not have any impact on the profit, income, loss or assets of the company.

Author:Monsenego, J. (Jérôme)

Published online:28 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

The author considers a Swedish court case that provides an interesting contribution to the debate on servers as permanent establishments. The attribution of profits to a permanent establishment created by a server is also discussed.

Author:Hanken, J.; Dorward, R.

Published online:16 October 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

The authors discuss the practical implications of the outcome-testing approach and the price-setting approach, and, based on an example, offer some suggestions and recommendations regarding the wording of paragraphs 3.67 to 3.71 of the OECD Guidelines (2010) for setting and testing transfer prices in practice, with the aim of minimizing the risk of double taxation.

Author:Rybnik, D.

Published online:21 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

In publishing a new list to replace the list of countries with little to no taxation, the Argentinean Executive Branch is proposing a paradigm shift, though perhaps it also intends another change.

Author:Ray, S.; Dattani, A.

Published online:13 August 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

The authors review the proposed amendment to section 92B(2) of the Income Tax Act with regard to the definition of “international transaction” for transfer pricing purposes. Controversies arising from prior judicial decisions, as well as the potential impact of the amendment on global contractual arrangements of multinationals, are also considered.

Author:Persson, O.; Alm, T.

Published online:18 August 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

A decision of the Administrative Court of Appeal seems to mark the beginning of a new line of argumentation of the tax authorities in situations involving the related-party sale of a trademark.

Author:Lange, M.A. de; Lankhorst, P.W.H.

Published online:11 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

The authors discuss the impact of location advantages on the transfer pricing of multinationals. Specific guidance from the OECD and United Nations on location advantages is considered, followed by a discussion of two international tax cases. The current practice on location advantages and transfer pricing in the Netherlands and in China, as examples, is also examined.

Author:Van Vlem, X.; Markey, B.; Leclercq, A.; Verlinden, I.

Published online:10 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

The authors suggest various ways to improve the functioning of the Arbitration Convention (90/436/EEC), especially in light of the anticipated increased number of double taxation disputes in the coming years

Author:Plesner Rossing, C.; Pearson, T.C.

Published online:21 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

This article discusses transfer pricing knowledge management systems, a neglected topic in the international transfer pricing and tax risk management literature. Key concepts of knowledge and knowledge management systems are introduced, followed by descriptions of the individual components of a transfer pricing knowledge management system. Finally, a guiding framework is proposed for the management of transfer pricing knowledge.

Author:Martínez Arellano, M.J.

Published online:21 August 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

This article considers the transfer pricing provisions that were included in the 2012 tax reform, as well as the challenges faced by both taxpayers and the tax authorities in this new environment.

Author:Lagarden, M.

Published online:3 September 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

The author considers the main features of intangibles in a transfer pricing context, as well as the conceivable consequences from a company perspective. Topics covered include ownership concepts; various practical valuation methods and related challenges; and different interpretations by tax authorities in various countries.

Author:Kireta, I.

Published online:23 July 2014

2014 (Volume 21), No. 4

International Transfer Pricing Journal

The author provides an overview of developments in the recently adopted transfer pricing regulations, with particular focus on the recent changes introduced by the Ministry of Finance with the implementation of the Rulebook.

Author:Butler, M.St.J.R.; White, L.

Published online:12 September 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

The authors review recently released significant guidance on Australian transfer pricing documentation requirements and penalties..

Author:Cooper, J.L.; Skopljak, Z.

Published online:17 October 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

In addition to a brief outline of the corporate taxation system in Albania and the previous rules on transfer pricing, this article provides an overview of the legal framework for transfer pricing in Albania in light of recently enacted legislation.

Author:Joseph, A.

Published online:20 October 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

The author discusses the taxation of branch profits under Australian statutory provisions, the impact of Taxation Ruling TR 2014/3 and the treatment of permanent establishments under the treaties with the United States and Singapore

Author:Vidal, J-P.; Larocque, D.; Leroux, J.

Published online:20 October 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

The authors consider how income may still be shifted even when transfer pricing rules are complied with. In addition, they examine the reliability of the one-sided methods in arriving at an unbiased result, and take a brief look at what the future may hold for transfer pricing.

Author:Wilkie, J.S.

Published online:22 September 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

The purpose of this comparative survey is to provide country reports on the concept of substance in international taxation. Although the substance requirement has since long been an important part of the functioning of different taxation rules, the focus on this concept has recently increased. The BEPS initiative, launched by the G20 and led by the OECD, may result in changes to the substance requirement as it is expressed in different kinds of norms such as domestic laws, tax treaties and soft law. The European Union is interested in these developments and adheres to the work of the OECD on BEPS, while conducting certain initiatives on its own. Given these recent developments, the International Transfer Pricing Journal wishes to present an overview of certain issues related to the substance requirement in several jurisdictions. The purpose of this study is to show the complexity, the diversity, but also the similarities between some of the requirements of different countries. At this point, the substance requirements in transfer pricing are deliberately not included in the questionnaire so as to limit the scope of this study. The outline has been prepared in cooperation with Jérôme Monsenego (Associate Professor of tax law, Uppsala University).

Author:Orsini, E. Peixoto; Marcondes, D.G. Peixoto Orsini

Published online:8 September 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

The authors analyse a ruling by the tax authorities on transfer pricing documentation, specifically with regard to whether audit reports may be used as supporting documentation for transfer prices purposes.

Author:Bhatnagar, V.

Published online:8 September 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

Following the completion of the first batch of applications for advance pricing agreements, the author provides an overview of the taxpayer experience thus far with the APA programme in India.

Author:Verlinden, I.; Abelshausen, K.; Geboers, T.

Published online:11 September 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

The purpose of this comparative survey is to provide country reports on the concept of substance in international taxation. Although the substance requirement has since long been an important part of the functioning of different taxation rules, the focus on this concept has recently increased. The BEPS initiative, launched by the G20 and led by the OECD, may result in changes to the substance requirement as it is expressed in different kinds of norms such as domestic laws, tax treaties and soft law. The European Union is interested in these developments and adheres to the work of the OECD on BEPS, while conducting certain initiatives on its own.Given these recent developments, the International Transfer Pricing Journal wishes to present an overview of certain issues related to the substance requirement in several jurisdictions. The purpose of this study is to show the complexity, the diversity, but also the similarities between some of the requirements of different countries. At this point, the substance requirements in transfer pricing are deliberately not included in the questionnaire so as to limit the scope of this study. The outline has been prepared in cooperation with Jérôme Monsenego (Associate Professor of tax law, Uppsala University).

Author:Fris, P.; Gonnet, S.; Meghames, R.

Published online:11 September 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

In the public discussion about transfer pricing, and even in the official guidance, it is evident that different parties may have very different perceptions of risk. This leads to a considerable degree of confusion in the current state of transfer pricing practice. The authors present an analytical framework for understanding risk in the context of applying the arm’s length principle that takes into consideration value creation, roles and responsibilities, and bargaining positions.

Author:Muyaa, E.

Published online:12 September 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

The author sets out comparability factors and other considerations in undertaking a comparability analysis, followed by a consideration of comparability adjustments and the challenges encountered with regard thereto, as well as the possible consequences of a lack of uniform guidance. Finally, the author considers the alternatives available to ensure that the arm’s length principle is upheld in a mutually beneficial manner for easy and effective compliance.

Author:Herrington, M.; Lowell, C.H.

Published online:8 September 2014

2014 (Volume 21), No. 5

International Transfer Pricing Journal

The authors provide an overview of the recently released IRS Transfer Pricing Roadmap and draw some comparisons between the new approach of the Internal Revenue Service to the conduct of transfer pricing examinations as set out in the Roadmap and the established practice of HM Revenue and Customs in this space.

Author:Perrou, K.

Published online:16 October 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

The author reviews recent clarifications of various rules governing transfer pricing documentation in Greece.

Author:Jhabakh, P.R. Kumar

Published online:12 January 2015

2015 (Volume 22), No. 1

International Transfer Pricing Journal

The author discusses the recent decision of the Bombay High Court in the Vodafone India Services Pvt. Ltd case, in which the Court held that the issuance of shares at a premium by a subsidiary to its non-resident parent company does not give rise to any income and, as a consequence, the provisions of chapter X relating to avoidance of tax (transfer pricing) of the Indian Income Tax Act 1961 is not applicable.

Author:Chand, V.; Wagh, S.

Published online:4 November 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

The authors analyse whether the OECD’s base erosion and profit shifting (BEPS) project would increase the use of the profit split method. After reviewing the current landscape in this context, the authors focus on situations in which the profit split method applies, the various approaches that can be used to split the profit among associated enterprises and reasons why the profit split method has been infrequently applied. Finally, the authors present their views on the application of the profit split method in light of the BEPS Action Plan.

Author:Visuttipat, C.

Published online:3 November 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

This articles discusses the various ways in which an original equipment manufacturer in Thailand providing services to foreign suppliers risks being deemed a permanent establishment in relation to its VAT obligations.

Author:Sá, R.C. Caldas de

Published online:3 December 2014

2015 (Volume 22), No. 1

International Transfer Pricing Journal

The author considers developments and advantages in the use of the PECEX method, which is used to determine transfer prices for exports of commodities, as well as challenges taxpayers may still face when applying this method.

Author:Raunio, M.

Published online:10 December 2014

2015 (Volume 22), No. 1

International Transfer Pricing Journal

The author considers a 2014 ruling by the Supreme Administrative Court regarding the possibility for the tax authorities to recharacterize a taxpayer’s transactions – specifically, the classification of a hybrid loan as debt or equity for tax purposes.

Author:Biçer, R.; Erginay, M.

Published online:30 January 2015

2015 (Volume 22), No. 1

International Transfer Pricing Journal

The OECD Action Plan on Base Erosion and Profit Shifting (BEPS) is a focal point of international tax debate. Although there are now a limited number of countries taking action against BEPS arising from activities of multinational groups, the authors believe that many other developed and developing countries will do the same. This article examines the Action Plan from a Turkish perspective, focusing on the most relevant actions of the BEPS Action Plan to Turkey.

Author:Casley, A.J.; Wlazlowski, S.; Wood, S.

Published online:30 January 2015

2015 (Volume 22), No. 1

International Transfer Pricing Journal

The Finance Bill 2014 enacted new legislation on so-called “profit transfers” and on certain other specific transactions. One thing that these have in common is that they may cut straight across the application of the arm’s length principle. Certainly, they have the potential to do so. This article looks at the background to these new rules, the rules themselves, and their potential application.

Author:Rasch, M.; Wroblewski, P.

Published online:13 April 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

This article provides a general overview of recent transfer pricing developments, accompanied by a contextual overview of implications for taxpayers operating in Luxembourg.

Author:Albano, A.

Published online:26 January 2015

2015 (Volume 22), No. 1

International Transfer Pricing Journal

This article, the first of a series of two, presents the results of research based on trends observed in Italian tax audits which focus more and more on transfer pricing issues when dealing with MNEs. Recent decisions by the Supreme Court are also discussed.

Author:Andresen, U.; Imhof, M.; Tao, Y.

Published online:21 May 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

This article focuses on the special provisions for banks and insurance companies, in particular the so-called allocation rules of the PE Profit Attribution Regulations.

Author:Casley, A.J.; Norton, K.; Krhoda, M.

Published online:29 January 2015

2015 (Volume 22), No. 1

International Transfer Pricing Journal

The authors consider various issues that businesses are grappling with as they contemplate how to deal with the future OECD transfer pricing documentation standard..

Author:Patel, V.T.; Haria, B.

Published online:13 February 2015

2015 (Volume 22), No. 2

International Transfer Pricing Journal

In addition to the recent ruling by the Bombay High Court in the Vodafone India Services case, the authors consider related case law on the applicability of transfer pricing provisions to the issuance of equity shares to a related party.

Author:Andresen, U.

Published online:16 February 2015

2015 (Volume 22), No. 2

International Transfer Pricing Journal

The author considers the recently issued Regulations on the application of the authorized OECD approach under existing German tax treaties, specifically for the allocation of profit to permanent establishments.

Author:Pellefigue, J.

Published online:28 January 2015

2015 (Volume 22), No. 2

International Transfer Pricing Journal

The author examines, from an economic perspective, the problem of the allocation of taxable base between states with a power to tax in the context of the digital economy

Author:Toryanik, T.

Published online:23 October 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

The purpose of this new comparative survey is to provide country reports on the concept of substance in international taxation. Although the substance requirement has since long been an important part of the functioning of different taxation rules, the focus on this concept has recently increased. The BEPS initiative, launched by the G20 and led by the OECD, may result in changes to the substance requirement as it is expressed in different kinds of norms such as domestic laws, tax treaties and soft law. The European Union is interested in these developments and adheres to the work of the OECD on BEPS, while conducting certain initiatives on its own.Given these recent developments, the International Transfer Pricing Journal wishes to present an overview of certain issues related to the substance requirement in several jurisdictions. The purpose of this study is to show the complexity, the diversity, but also the similarities between some of the requirements of different countries. At this point, the substance requirements in transfer pricing is deliberately not included in the questionnaire so as to limit the scope of this study. The outline has been prepared in cooperation with Jérôme Monsenego (Associate Professor of tax law, Uppsala University). Country report on Australia.

Author:Lasiński-Sulecki, K.

Published online:22 April 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

Major changes to the corporate income tax law were introduced on 1 January 2015. These changes, which are generally aimed at reducing possibilities of tax avoidance, include thin capitalization rules. The new rules are more complex and restrictive than those that were in force until the end of 2014.

Author:Bilaney, S.K.

Published online:30 October 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

The author analyses significant developments in Indian transfer pricing rules in 2014, including amendments to existing rules; key tax court rulings; provisions of the Companies Act and provisions enforced by the Securities Exchange Board of India covering related-party transactions; and the OECD report, Improving Corporate Governance in India: Related Party Transactions and Minority Shareholder Protection.

Author:Jain, A. (Ajit) Kumar

Published online:23 October 2014

2014 (Volume 21), No. 6

International Transfer Pricing Journal

The author considers transfer pricing provisions in Finance Bill 2014, specifically with regard to safe harbours for intra-group services. The treatment of safe harbours for intra-group services in India is also compared with that in several other countries.

Author:Sporken, C.J.E.A.; Visser, P.

Published online:22 January 2015

2015 (Volume 22), No. 1

International Transfer Pricing Journal

The authors discuss the guidance released by the OECD and G20, under the Base Erosion and Profit Shifting initiative, with regard to transfer pricing aspects of intangibles. In the context of intangibles and OECD developments, the authors also discuss Dutch transfer pricing regulations as issued in November 2013..

Author:Milewska, M.; Amaya, E.

Published online:22 January 2015

2015 (Volume 22), No. 1

International Transfer Pricing Journal

The authors analyse the impact of specific Mexican requirements on the transfer pricing structure and intercompany transactions in the pharmaceutical industry in light of Action 8 of the Action Plan on Base Erosion and Profit Shifting

Author:Bhatnagar, V.

Published online:13 April 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

The author discusses the highlights of the revised transfer pricing guidelines issued by the Singapore tax authorities in January 2015, and attempts to shed some light on the impact thereof on Singapore taxpayers.

Author:Bilaney, S.K.

Published online:9 February 2015

2015 (Volume 22), No. 2

International Transfer Pricing Journal

The author analyses two recent High Court rulings in the N.G.C. Network (India) and L’Oreal India cases.

Author:Lange, M.A. de; Lankhorst, P.W.H.; Hafkenscheid, R.

Published online:6 February 2015

2015 (Volume 22), No. 2

International Transfer Pricing Journal

The possibilities for reclassifying and disregarding controlled transactions between associated enterprises are explored in this article by means of analysing OECD guidance in this area and looking at how such guidance is interpreted and implemented by tax authorities, drawing on the Netherlands as a specific example. The relevance of the BEPS project together with various economic theories will also be examined, as well as how such theories interact with OECD guidance on this topic.

Author:Adoe, A.

Published online:4 February 2015

2015 (Volume 22), No. 1

International Transfer Pricing Journal

The author looks into approaches taken by the tax authorities during tax audits, and attempts to clarify transfer pricing issues in the manufacturing sector through an analysis of various Tax Court rulings.

Author:Cooper, J.L.

Published online:10 April 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

Ukraine’s transfer pricing rules have been substantially amended as part of a recent tax reform. This article presents an overview of the legal framework for transfer pricing in Ukraine in light of these changes and provides some insights into expected future developments.

Author:Herrington, M.

Published online:2 July 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

An overview of the BEPS-related papers, recently published by the OECD on 6 February 2015, is provided and this article furthermore attempts to explain the OECD’s proposed timeline for implementing the recommendations set out in those papers.

Author:Joseph, A.

Published online:5 February 2015

2015 (Volume 22), No. 2

International Transfer Pricing Journal

This article considers subdivision 815-B of the Income Tax Assessment Act, which was introduced in 2013, as well as Taxation Ruling TR 2014/16 on the determination of substance in cross-border transactions.

Author:Bilaney, S.K.

Published online:19 February 2015

2015 (Volume 22), No. 2

International Transfer Pricing Journal

This article discusses how a difference in the level of capacity utilization impacts the profit margin and when taxpayers should consider making capacity utilization adjustment in their transfer pricing analysis. As there is no authoritative guidance available on this subject, the author looks into various practical approaches that could be used by taxpayers to calculate a capacity utilization adjustment. Finally, the article provides tips for documenting such adjustment in a transfer pricing study report.

Author:Sporken, C.J.E.A.; Cattel, Y.C.

Published online:4 May 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

The authors analyse the recent investigations commenced by the European Commission regarding the compatibility with State aid rules, of rulings granted by the tax authorities of several EU Member States.

Author:Schoeneborn, F.

Published online:11 June 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

This article explains how to avoid year-end adjustments and why proactive intercompany margin management becomes the preferred approach for multinational enterprises.

Author:Joseph, A.

Published online:26 March 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

The author describes the current landscape in Australia, and briefly considers the state of affairs in China and India, as regards advance pricing agreements.

Author:Silberztein, C.; Granel, B.

Published online:20 February 2015

2015 (Volume 22), No. 2

International Transfer Pricing Journal

This article examines the ruling by the Lower Administrative Court of Montreuil in the Philips France SAS case, in which the Court contemplated whether state subsidies should be deducted from the cost base for transfer pricing purposes.

Author:Butler, M.St.J.R.; White, L.; Prpic, M.

Published online:20 February 2015

2015 (Volume 22), No. 2

International Transfer Pricing Journal

The authors review the risk-rating system used by the Australian Taxation Office (ATO) to determine whether to review and audit taxpayers’ transfer pricing arrangements.

Author:Schoeneborn, F.

Published online:22 April 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

This article provides insights on year-end adjustments from a practitioner perspective and illustrates why such adjustments cannot be the preferred solution for multinational enterprises.

Author:Carreño, F.; Sánchez-Briñas, M.

Published online:23 April 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

After providing an overview of the regulation of transfer pricing in Spain, the authors analyse the proposed Spanish implementation of country-by-country reporting.

Author:Rosensweig, Y.

Published online:25 June 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

A recent draft circular issued by the Israeli tax authorities sets forth their views on the application of existing rules and tax treaty provisions in the ever-evolving digital economy.

Author:Cooper, J.L.

Published online:12 August 2015

2015 (Volume 22), No. 5

International Transfer Pricing Journal

The interface of customs valuation and transfer pricing is a challenge not only for business, but also for revenue authorities who often struggle to reconcile and administer the two sets of rules. Recognizing this, on 24 June 2015, the World Customs Organization (WCO) published the “WCO Guide to Customs Valuation and Transfer Pricing” that aims to assist customs officials in understanding and navigating the relationship between customs valuation and transfer pricing.

Author:Douvier, P-J.; Daluzeau, X.

Published online:2 February 2015

2015 (Volume 22), No. 2

International Transfer Pricing Journal

At the end of 2013, enterprises established in France and subject to the obligation to prepare transfer pricing documentation prior to a tax audit, became also obliged to file annually a declaration of their transfer pricing policy. The authors offer guidance on how to fulfil this obligation and consider practical issues related to the new obligation.

Author:Pichhadze, A. (Amir)

Published online:8 April 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

This article discusses the task of identifying controlled transactions under review by the Commissioner of the Internal Revenue Service. In particular, it aims to alert courts as to the necessary role of contractual interpretation law in determining the true nature of such controlled transactions.

Author:Stroykova, S.

Published online:24 April 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

The author discusses the status of letters issued by the Ministry of Finance, as well as the contents of two such letters that provide guidance on transfer pricing issues.

Author:Jain, A. (Ajit) Kumar

Published online:1 April 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

The author analyses the priority given to various transfer pricing methods from an Indian perspective, as well as from the perspective of the OECD and various countries around the world.

Author:Perrou, K.

Published online:2 February 2015

2015 (Volume 22), No. 2 (Next Issue)

International Transfer Pricing Journal

The Greek tax authorities have issued guidance for taxpayers wishing to seek an advance pricing agreement, including as regards preliminary consultations and the negotiation process. Sample forms have also been made available to taxpayers.

Author:Bhatnagar, V.

Published online:5 June 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

The author considers the recent ruling of the Delhi High Court in the Sony Ericsson Mobile Communications case and analyses the relevant outcomes specifically as it relates to transfer pricing and marketing intangibles.

Author:Koomen, M.

Published online:15 May 2015

2015 (Volume 22), No. 3

International Transfer Pricing Journal

In the first of a two-part article, the author considers the impact of the OECD BEPS initiative on the application of the arm’s length principle. A historical and comparative analysis is presented of the implementation of the arm’s length principle, as well as the boundaries of the principle in practice. Guidance from the OECD and the case law of various jurisdictions are also considered.

Author:Liu, J.; DeSouza, G.R.; Zhou, H.

Published online:22 June 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

The authors consider recently introduced measures that could be used by Chinese tax authorities to deny income tax deductions for certain service fees and royalties paid by Chinese companies to their overseas affiliates. Potential strategies are also suggested for multinationals to safeguard their tax interests in China.

Author:Jain, A. (Ajit) Kumar

Published online:17 June 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

The author considers the transfer pricing treatment of outstanding receivables among associated enterprises in India, including numerous court cases that have addressed the issue.

Author:Verlinden, I.; Haupt, M.

Published online:10 August 2015

2015 (Volume 22), No. 5

International Transfer Pricing Journal

The EU Joint Transfer Pricing Forum reached agreement on revisions to the Code of Conduct to the EU Arbitration Convention during its meeting on 12 March 2015. The authors consider those changes and their potential impact, as well as the renewed mandate and change in composition of the JTPF.

Author:Bjerke, J.M.; Søgaard, S.S.

Published online:12 August 2015

2015 (Volume 22), No. 5

International Transfer Pricing Journal

In 2015, the Norwegian Supreme Court, for the first time ever, heard a case involving the use by the tax authorities of so-called secret comparables in transfer pricing. In this article, the authors consider the decision and its potential future impact.

Author:Yuesheng, J.

Published online:18 June 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

Recently, the OECD published seven deliverables of the BEPS Action Plan which demonstrate that the value creation theory is more in tune with the interests of Western countries. This article analyses the arguments in support of this theory and offers general thoughts and strategies, as well as specific suggestions for policy administration in order for China to obtain a reasonable share of global value allocation.

Author:Balco, T.

Published online:25 June 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

Recently, the Slovak Ministry of Finance has issued new guidance on transfer pricing documentation. This guidance establishes three categories of documentation based on the degree of detail of the information regarding a taxpayer’s risk profile and thus balances the state’s tax revenue protection interests while also attempting to relieve a potentially unreasonably high documentation burden for certain taxpayers regarded as low risk from a transfer pricing perspective.

Author:Bonet Tellechea, J.

Published online:25 June 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

A 2014 Decree has provided for tax benefits for shared service centres in addition to the benefits already available under the general investment promotion regime.

Author:Koomen, M.

Published online:13 July 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

In the second of a two-part article, the author considers how the arm’s length principle could be enhanced to meet the substance and value alignment requirements of the OECD BEPS initiative. The boundaries and concepts of the arm’s length principle are explored, taking into account the analysis in the Part I of the article, published previously, and insights from economics. Guidance from the OECD and the case law of various jurisdictions are included in this study. Recommendations are presented to amend the Commentary on Article 9 of the OECD Model and the guidance in the OECD Guidelines

Author:Lasiński-Sulecki, K.; Morawski, W.

Published online:9 July 2015

2015 (Volume 22), No. 4

International Transfer Pricing Journal

Polish courts have recently held that transfer pricing provisions may apply in the case where the arm’s length contractual stipulations were executed in a way departing from the arm’s length standard. They also claimed that hypothetical transactions that would have taken place if transactions between associated enterprises had been at arm’s length, should have been considered in evaluating whether transfer pricing provisions were applicable.

Author:Lowell, C.H.; Herrington, M.

Published online:7 September 2015

2015 (Volume 22), No. 5

International Transfer Pricing Journal

Author:Hogan, S.; Austin, C.

Published online:13 January 2016

2016 (Volume 23), No. 1

International Transfer Pricing Journal

In response to the parameters articulated by the OECD under Action 5 of the BEPS project, Ireland will be the first country to introduce an OECD-compliant intellectual property box regime. The authors review the new regime and provide computational examples of how it will apply.

Author:Parekh, S.

Published online:3 September 2015

2015 (Volume 22), No. 5

International Transfer Pricing Journal

The author evaluates the transfer pricing concept of “options realistically available”. The article seeks to understand and analyse the meaning of this concept, identifies various factors that must be analysed to determine the options realistically available and briefly discusses some of the financial management tools and economic theories that can be used to apply this concept in practice.

Author:Rybnik, D.

Published online:3 March 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

The author considers a 2015 National Tax Court case on the deduction of charges for intra-group services, including in light of the recent work under the OECD’s BEPS initiative on charges for low value added intra-group services.

Author:Wilkie, J.S.

Published online:31 August 2015

2015 (Volume 22), No. 5

International Transfer Pricing Journal

The Canada Revenue Agency published important new guidance earlier this year concerning transfer pricing for services and data analysis that uses statistical tools. These are important aspects of Canadian transfer pricing analysis. The CRA’s comments on statistical analysis are particularly important in light of its long-standing outlook on this kind of analysis. More generally, the CRA’s comments provide more general insight into how the CRA may approach complex or “bundled” transfers the elements of which may be difficult to separate.

Author:Lin, Y. (Yishian)

Published online:11 September 2015

2015 (Volume 22), No. 5

International Transfer Pricing Journal

The Ministry of Finance has issued new rules regarding contemporaneous transfer pricing documentation, as well as preparation meetings that are part of the APA application process. The Ministry also recently released a tax order that provides an objective formula for calculating a “contribution rate” used to calculate taxable income of non-resident enterprises to reduce the tax liability when only limited functions and risks are carried out in Taiwan..

Author:Jhabakh, P.R. Kumar

Published online:7 September 2015

2015 (Volume 22), No. 5

International Transfer Pricing Journal

This article discusses the recent judgment of the Delhi Bench of the Income Tax Appellate Tribunal in the Bharti Airtel Ltd case, wherein it was held that corporate guarantees provided by a company to its associated enterprises do not have any impact on the profits, income, losses or assets of a company, and therefore the transfer pricing provisions are not applicable.

Author:Orsini, E. Peixoto; Marcondes, D.G. Peixoto Orsini

Published online:8 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

A ruling recently issued by the Brazilian tax authorities, while purporting to offer clarity to taxpayers, will likely lead to increased litigation and compliance costs for companies.

Author:Pate, B.; Drobež Tomšič, M.

Published online:22 January 2016

2016 (Volume 23), No. 1

International Transfer Pricing Journal

Advance pricing agreements will be possible in Slovenia from 1 January 2017. Although detailed rules have not yet been issued, the authors review the procedure for obtaining an APA based on currently available guidance.

Author:Biçer, R.

Published online:9 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

The Turkish tax authorities recently issued “Draft Guidelines on Advance Pricing Agreements” with the aim of assisting corporate taxpayers that envisage filing an advance pricing agreement. It is obvious that these informative guidelines are beneficial for corporate taxpayers to ensure proper transfer pricing with their related parties. This article provides insights from the Draft Guidelines and discusses the significant issues surrounding advance pricing agreement procedures in Turkey

Author:Stroykova, S.

Published online:5 November 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

This article provides an overview of the ongoing transfer pricing dispute between a Russian subsidiary of the Suzuki group, Suzuki Motor Rus LLC (Suzuki Rus) and the Russian tax authorities, regarding losses incurred by Suzuki Rus from the resale of imported vehicles to Russian dealers in 2009 and 2010, at prices below their purchase price.

Author:Ali-Nakyea, A.; Owusu Demitia, W.K.

Published online:7 March 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

Several countries have enacted transfer pricing regulations to address the problems associated with the pricing of intra-group transactions. Ghana enacted its transfer pricing regulations in 2012 to address issues relating to transfer pricing in the country. This article considers the efficacy of Ghana’s transfer pricing regulations in the context of services, specifically as regards the aim to defeat current artificial tax planning schemes.

Author:Furuya, H.; Ueda, T.; Fujita, S.; Lowell, C.H.

Published online:8 December 2015

2016 (Volume 23), No. 1

International Transfer Pricing Journal

In light of the increasing prominence of international tax dispute resolution, especially considering the OECD/G20 BEPS Project, the authors discuss positive developments around the world and present some of the Japanese experience on this issue to serve as a guidepost on how to resolve disputes in a world that is rapidly evolving.

Author:Zucchetti, S.; Pallotta, A.

Published online:7 January 2016

2016 (Volume 23), No. 1

International Transfer Pricing Journal

The authors examine the technical aspects of the new Italian patent box regime introduced in 2015 which provides for a partial exemption of income arising from qualifying intellectual property rights. Topics considered include historical development, current requirements and international aspects of the Italian patent box regime, comparing it to regimes applicable in other countries. This article consists of two parts, the second of which is primarily focused on the valuations techniques relevant to qualifying IP assets and will appear in a future issue of this journal.

Author:Jonsson, S.T.; Birgisson, H.I.

Published online:1 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

The OECD Transfer Pricing Guidelines were legislatively implemented in Iceland with effect from 1 January 2014 through new articles in the Income Tax Act. A regulation on the topic was issued in December 2014 and the above-mentioned articles were also amended in June 2015. The authors consider these changes, effects on domestic related entities, documentation requirements and tax return disclosures.

Author:Patel, V.T.; Dhoot, S.; Haria, B.

Published online:29 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

While presenting the Union Budget 2014-15, the Finance Minister proposed the introduction of the concepts of “range” and “multiple-year data” in Indian transfer pricing, with the objective of reducing transfer pricing litigation in India. The Central Board of Direct Taxes has developed a draft scheme, which contains detailed provisions as regards the application of “range concept” and the use of “multiple year data” for transactions undertaken for financial years 2014-15 and onwards.

Author:Choudhury, S.

Published online:16 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

A discussion draft of the Innovation Promotion Act of 2015 was released in July 2015 by the US House Ways and Means Committee.

Author:Wittendorff, J.

Published online:1 March 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

On 18 December 2015, the Danish parliament approved Bill 46 of 10 November 2015, which introduces country-by-country reporting into Danish law and amends existing rules on transfer pricing documentation. This article reviews the new rules on CbC reporting and transfer pricing documentation.

Author:Didenko, V.

Published online:7 December 2015

2016 (Volume 23), No. 1

International Transfer Pricing Journal

With effect from 1 January 2013, reformed transfer pricing rules have introduced an anti-avoidance tool aimed at transactions between local companies and unrelated counterparties located in so-called black-listed jurisdictions.

Author:Albano, A.

Published online:10 September 2015

2015 (Volume 22), No. 5

International Transfer Pricing Journal

This article is the second part of a contribution, and analyses the Supreme Court’s 19 December 2014 ruling in case 27087, in which – consistent with the approach considered more correct, as illustrated in the first part of this contribution – the Supreme Court recognized that transfer pricing rules do not have a specific anti-avoidance purpose.

Author:Butler, M.St.J.R.; Danby, M.

Published online:23 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

The Australian government has released draft legislation that would prevent international corporations from avoiding Australian tax liability by artificially limiting their taxable presence in Australia.

Author:Ham, S. van der; Fiehler, K.; Retzer, D.; Otte, F.

Published online:19 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

The authors consider an ordinance that contains detailed profit attribution rules for permanent establishments and industry-specific rules. In that respect, they focus on construction and exploration sectors and outline possible consequences for taxpayers operating in these industries.

Author:Beretta, G.

Published online:23 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

The author considers a landmark decision rendered by the United Sections of the Italian Supreme Court which grants a taxpayer access to domestic legal remedies where the taxpayer’s request for opening a mutual agreement procedure under the Arbitration Convention is denied by the competent tax authority.

Author:Patel, V.T.; Visharia, K.P.

Published online:10 September 2015

2015 (Volume 22), No. 5

International Transfer Pricing Journal

The authors analyse the Marubeni case concerning a typical business model and its nuances for benchmarking the international transaction of provision of agency and marketing support services, as well as the Court’s determination as to whether the consideration for such services was at arm’s length

Author:Dorey, M.; Sala, M.

Published online:30 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

While there is significant uncertainty surrounding the implementation of country-by-country reporting in the United States, US multinationals should begin to address this now, in light of global developments on the issue. The authors provide a framework for cost-effective resource deployment to meet emerging global requirements for country-by-country reporting.

Author:Averyanova, V.; Sampat, J.

Published online:15 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

The main objective of this article is to provide an overview of the transfer pricing aspects of intra-group financial guarantees. It discusses the current approach to the determination of the arm’s length level of the guarantee fee outlined in the OECD Guidelines and the Canadian court case General Electric. The article analyses the approach proposed in the 2014 Deliverable on Action 8 of the BEPS Action Plan “Guidance on TP Aspects of Intangibles”, including its compatibility with the authoritative statement of the arm’s length principle, as well as the practical considerations in the post-BEPS environment and the potential suggestions for further improvements to be made to the OECD Guidelines.

Author:Aydın, E.

Published online:8 December 2015

2016 (Volume 23), No. 1

International Transfer Pricing Journal

The author analyses the impact on the Turkish tax inspection system, tax law and companies, of the transfer pricing Actions under the OECD BEPS Project; and investigates the attitude of Turkish senior officials, tax inspectors and company executives towards the BEPS Project and its transfer pricing Actions. This article is based on a survey that was conducted by the author.

Author:Veldhuizen, R.; Teneketzis, L.

Published online:17 February 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

This article provides an overview of the proposed country-by-country filing obligations based on the guidance found in the revised Chapter V of the OECD Transfer Pricing Guidelines (as per the Action 13 Final Report), and discusses certain issues pertaining to the initial implementation of CbC reporting.

Author:Van Stappen, D.; Oepen, W. (Wolfgang); Molla, E.

Published online:8 December 2015

2016 (Volume 23), No. 1

International Transfer Pricing Journal

This article focuses on the proposed EU framework for the mandatory exchange of information on tax rulings, as defined by the ECOFIN Council on 6 October 2015. Given the parallel nature of the transparency element of BEPS Action 5, some comments thereon are also included.

Author:Verlinden, I.; Deré, P.

Published online:14 October 2015

2015 (Volume 22), No. 6

International Transfer Pricing Journal

On 17 June 2015, the European Commission (the Commission) published its Action Plan for fair and efficient corporate taxation in the European Union. The authors discuss the Action Plan and place the Action Plan into the landscape of ongoing developments in the international tax realm. Critical comments are offered with regard to the merits and limits of the actions proposed by the Commission in the Action Plan.

Author:Butler, M.St.J.R.; Pengelly, J.; Neilson, R.

Published online:11 January 2016

2016 (Volume 23), No. 1

International Transfer Pricing Journal

The authors review an important recent decision regarding the operation of Australia’s transfer pricing rules in relation to an intra-group credit facility.

Author:Oosterhoff, D.

Published online:8 January 2016

2016 (Volume 23), No. 1

International Transfer Pricing Journal

The Senate of the Dutch Parliament on 21 December 2015 has passed the legislative proposals that will implement country-by-country reporting in line with Action 13 of the OECD’s BEPS Project. The author considers the likely impact of the coming changes and the future outlook in the country.

Author:Chand, V.

Published online:7 January 2016

2016 (Volume 23), No. 1

International Transfer Pricing Journal

The author discusses the concept, underlying commercial rationale and types of cash pooling arrangements, and then analyses and comments on the transfer pricing aspects thereof. The analysis also takes into consideration the Actions under the OECD/G20 BEPS Project related to transfer pricing. The author discusses the impact of other BEPS-related actions (domestic and treaty law changes) on cash pooling arrangements, and ultimately suggests a way forward..

Author:Agrawal, M.

Published online:23 December 2015

2016 (Volume 23), No. 1

International Transfer Pricing Journal

In this article, the author considers the transfer pricing aspects of imputation of notional interest on late payments from an Indian viewpoint and the conflicting case law regarding this issue. Finally the author suggests strategies for taxpayers to shield themselves from transfer pricing adjustments in respect of their accounts receivable.

Author:Lagarden, M.

Published online:28 December 2015

2016 (Volume 23), No. 1

International Transfer Pricing Journal

The author discusses transfer pricing documentation with a view to plans laid out by the current German government in its coalition agreement at the end of 2013, and with a particular focus on the treatment of this issue according to the OECD’s final report on BEPS Action 13 (Transfer Pricing Documentation and Country-by-Country Reporting), published in October 2015.

Author:Wilkie, J.S.

Published online:28 December 2015

2016 (Volume 23), No. 1

International Transfer Pricing Journal

The author considers how the OECD’s BEPS project may relate to the Canadian government’s 2015 federal budget. He also looks into Canada’s evolving tax policy in relation to issues commonly associated with BEPS, even in the absence of specific Canadian tax law responses, so far, to BEPS

Author:Lasiński-Sulecki, K.

Published online:3 February 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

The Polish legislature has recently been active in the field of transfer pricing. First, changes were introduced in basic provisions regarding transfer pricing adjustments and thin capitalization (effective from 2015), followed by amendments to APA rules (entering into force in 2016). Finally, transfer pricing documentary requirements were created nearly anew (to be fully effective in 2017). Here, the author considers the amended APA rules.

Author:Marcondes, D.G. Peixoto Orsini; Orsini, E. Peixoto

Published online:18 December 2015

2016 (Volume 23), No. 1

International Transfer Pricing Journal

Brazil has enacted several Provisional Measures in an attempt to increase taxation for both individuals and companies, including Provisional Measure 690, which has substantially increased, from 1 January 2016, the taxation of author, image, name, voice and similar rights held by Brazilian companies.

Author:Sporken, C.J.E.A.; Visser, P.

Published online:21 January 2016

2016 (Volume 23), No. 1

International Transfer Pricing Journal

Many countries have already adopted or are poised to adopt changes to their international tax and transfer pricing systems based on the OECD recommendations under the BEPS project, specifically following the issuance of the package of final reports on 5 October 2015. In addition to discussing the changes to come, the authors address ways in which the Netherlands has implemented the OECD’s recommendations with respect to intangibles.

Author:Perrou, K.

Published online:1 March 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

The author considers two recent circulars that clarify transfer pricing documentation obligations in Greece.

Author:Hülshorst, J.; Tenberge, M.; Kuzmina, S.; Hoss, A.; Westermeier, A.

Published online:29 February 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

The OECD’s BEPS Action 4 shall prevent multinationals from using interest deductions and other financial payments to artificially avoid or reduce taxation. This article analyses the main implications of the suggested approach, in particular its relation to the well-established arm’s length principle, potential side effects distorting business incentives and its actual impact on multinationals under different scenarios. The authors conclude that the proposed combination of the fixed and the group ratio rule marks a clear break with prevailing transfer pricing standards and will indeed affect the business of a number of multinationals around the globe.

Author:Wright, D.R.; Keates, H.A.; Lewis, J.; Auten, L.

Published online:26 February 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

This article comments on the OECD Action 8 Final Report relating to transfers of intangibles within a multinational enterprise. Specifically, it contains comments about the MNEs that are most likely to be affected and about the incentive structure created by the Final Report. In addition, this article discusses the practical application of many of the requirements contained in the Final Report, such as the definition and identification of intangible assets (including examples of such assets), issues relating to functional analysis, and comments on transfer pricing methods and valuation techniques (including comments on the application of the income method).

Author:Verlinden, I.; Ledure, D.; Dessy, M.

Published online:25 February 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

The OECD developed a detailed framework for risk (re-)allocation under the BEPS Action 9 report. This article provides an overview of risk identification, delineation and allocation under this framework and comments on certain issues pertaining to the interpretation thereof.

Author:Heidecke, B.; Breuer, M.; Teller, M.

Published online:10 March 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

The authors provide information on how graphical illustrations, interval approaches and hypothesis testing can be used for calculating and defending CUPs in a tax audit. By using these approaches, the CUP method might lead to more accurate findings and serve as an additional defence line in order to minimize transfer pricing-based risks from an MNE perspective.

Author:Rasch, S.; Mank, K.; Tomson, S.

Published online:10 March 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

The authors discuss developments regarding country-by-country reporting in Germany and various countries around the world. Recommendations are also offered for implementing country-by-country reporting into a taxpayer’s documentation approach..

Author:Storck, A.; Petruzzi, R.; Pankiv, M.; Tavares, R.J.S.

Published online:21 April 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

This article highlights the items discussed during the Global Transfer Pricing Conference “Transfer Pricing in a Post-BEPS World”, organized by the WU Transfer Pricing Center at the Institute for Austrian and International Tax Law at WU (Vienna University of Economics and Business), and summarizes the topics analysed during the eight sessions of the event.

Author:Hankó Faragó, A.

Published online:22 April 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

This article presents the reaction or – in certain cases – lack of reaction in Sweden to the BEPS final reports, and focuses on actions most relevant from a Swedish perspective, and the effect that they might have on existing Swedish law

Author:Pichhadze, A. (Amir)

Published online:15 April 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

This article provides guidance on the task of aggregation and disaggregation of contract terms in transfer pricing. It explains that: (1) aggregation involves giving expression to the parties’ single composite transaction; (2) aggregation requires applying a step-transaction analysis, which makes it possible to delineate the true substance of the composite transaction, and then apply the relevant tax rule(s) based on the combined effect of the interrelated contracts; and (3) disaggregation may be used as an anti-avoidance measure. The article also identifies notable implications of aggregation.

Author:Plesner Rossing, C.; Pearson, T.C.; Nesimi, A.

Published online:6 April 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

This article provides an overview of key concepts for controlling transfer pricing strategies based on the Levers of Control framework.

Author:Wilkie, J.S.

Published online:17 March 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

The author considers the broad compatibility of the master file, local file and country-by-country reporting regimes with existing Canadian tax law, first by outlining the essential elements of these regimes and then testing them with reference to the main elements of the investigatory powers of Canadian tax authorities and taxpayers’ reporting obligations under the Income Tax Act.

Author:Stroykova, S.

Published online:18 March 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

A draft law has been proposed by the Ministry of Finance that would amend transfer pricing rules, including with regard to the definition of related parties, the threshold for recognizing domestic transactions as controlled transactions, and the concepts of materiality and the median.

Author:Casley, A.J.; Pybus, D.; Vincent, S.

Published online:15 March 2016

2016 (Volume 23), No. 2

International Transfer Pricing Journal

In light of OECD developments aimed at tackling base erosion and profit shifting (BEPS), the United Kingdom recently announced proposed changes to interest deductibility and patent box regimes. This article reviews the background to these proposed changes and examines the intended effect, with a focus on issues that are likely to be relevant or of interest to transfer pricing practitioners.

Author:Joseph, A.

Published online:15 April 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

Legislative progress in the BEPS area has been fairly quick in Australia, culminating with the enactment of the Tax Laws Amendment (Combating Multinational Tax Avoidance) Act No. 170 of 2015 (date of assent: 11 December 2015). The author reviews the potential impact of the Act as regards transfer pricing documentation and penalties.

Author:Baggerman, K.; Offermanns, R.H.M.J.

Published online:18 May 2016

2016 (Volume 70), No. 6

Bulletin for International Taxation

The authors, in this article, examine the tax implications of undertaking foreign direct investment in developing countries. Other matters relating to such investment are also considered by the authors.

Author:Balco, T.; Yeroshenko, X.

Published online:9 May 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

The authors discuss current rules and administrative practices in respect of the determination of ranges for arm’s length prices. Deviations from international practice are noted, and various approaches to determining transaction prices are presented.

Author:Hogan, S.; Austin, C.

Published online:24 May 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

The authors review the Irish legislation which introduces country-by-country reporting, and its implications for multinational enterprise groups doing business in and from Ireland.

Author:Jamroży, M.

Published online:23 June 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

As a response to the BEPS Action Plan, new transfer pricing documentation and reporting requirements will be applicable in Poland, generally with effect from 1 January 2017. These changes are expected to bring a significant increase to the compliance burden for multinational businesses.

Author:Patel, V.T.; Shah, R. (Rajiv); Visharia, K.P.

Published online:18 May 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

India has expressed a reservation in the Commentary on the OECD Model as regards the place of effective management, stating that the determination of the place of effective management should be guided by the place where the main and substantial activity of the entity is carried on. This reservation seems to have been taken into consideration when one considers the Indian Draft Guidelines for determining the place of effective management of a company under the Income Tax Act.

Author:Strachuk, V.

Published online:19 May 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

This article analyses the changes in the transfer pricing regulations in Belarus which are in effect from 1 January 2016.

Author:Dujsic, M.; Gurr, S.; Evans, A.

Published online:30 June 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

On 29 January 2016, Canada’s Federal Court of Appeal (FCA) released its decision in the Marzen Artistic Aluminum case, which concerned the transfer pricing treatment of marketing fees paid to a taxpayer’s wholly owned foreign subsidiary. The FCA judgment reinforced certain issues decided by the Tax Court of Canada, including the importance of respecting contracts between separate legal entities and not inappropriately amalgamating separate and distinct entities.

Author:Mortier, F.

Published online:23 June 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

According to the Belgian Constitutional Court, the failure to report a payment to a person established in a non-cooperative jurisdiction or a tax haven is, in principle, a sufficient reason to deny the deduction of the payment for tax purposes. The reporting obligation imposed upon (non-resident) corporate taxpayers exists irrespective of whether the payment concerns an actual transaction or a sham. No fraudulent intent is required.

Author:Oka, N.

Published online:29 April 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

The author considers several recent Japanese court cases that shed light on the issue discussed in the final report on OECD Action 7 (BEPS).

Author:Dawid, R.

Published online:14 July 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

This article considers the Discussion Paper issued by the Joint Transfer Pricing Forum in February 2016 as a reaction to the Actions 8-10 Final Reports under the OECD BEPS Project. In particular, it will look into the application of the OECD risk framework and various practical aspects of comparables search studies.

Author:Dorey, M.

Published online:3 May 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

To further explore the new US tax documentation requirement, the author defines the taxpayers who must file a US country-by-country report; describes the information to be provided and offers some final remarks regarding the implementation process.

Author:Zucchetti, S.; Pallotta, A.; Lanfranchi, O.

Published online:13 May 2016

2016 (Volume 23), No. 3

International Transfer Pricing Journal

In their previous article in this journal, the authors examined the technical aspects of the new Italian patent box regime introduced in 2015, which provides for a partial exemption of income arising from qualifying intellectual property rights. This second part of the article will primarily focus on valuations techniques to determine the economic contribution of the qualifying intellectual property assets to the overall income of the prospective beneficial taxpayer.

Author:Espinel Coral, M.I.

Published online:14 July 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

In light of the OECD BEPS initiative and the Transfer Pricing Manual published in 2013 by the UN, this article focuses on transfer pricing in Colombia. It describes the general background and what the implementation of the transfer pricing regime so far has meant for Colombia. The current framework and its upgrade after the BEPS initiative and publication of the manual will also be compared.

Author:Agrawal, M.

Published online:18 July 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

The author explains the new amendment to Indian law relating to the equalization levy, which is in line with Action 1 of the BEPS initiative, regarding payments for online advertising by an Indian entity to a non-resident, along with the impact of the amendment on Indian entities.

Author:Douvier, P-J.; Benamran, J.

Published online:18 July 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

The authors consider the country-by-country reporting requirement that has been introduced by the French 2016 Finance Act; they also present the draft law that could introduce a public country-by-country reporting requirement in France and the resulting concerns for taxpayers regarding confidentiality.

Author:Mortier, F.

Published online:18 July 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

The Courts of Appeal of Antwerp and Liège are of the opinion that interposing a Belgian finance company is, as such, not abnormal even if the company holds one single loan. The receiving and granting of a loan, and the management thereof, is clearly an economic activity, and – given the magnitude of the loan – not of an abnormal nature. The notional interest deduction is not conditional upon a certain level of economic substance.

Author:Joseph, A.

Published online:18 August 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

The Australian Taxation Office has issued Taxpayer Alert TA 2016/1 concerning entities inappropriately recognizing and revaluing intangible assets for thin capitalization purposes.

Author:Schaffner, J.; Balliet, S.

Published online:25 July 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

The authors consider both new and already existing rules and practices in Luxembourg in light of international efforts to combat BEPS, EU state aid investigations and LuxLeaks.

Author:Bhatnagar, V.

Published online:21 July 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

Vodafone emerged victorious in its recent challenge before the Bombay High Court of a proposed transfer pricing adjustment. The case concerned the sale of the taxpayer’s call centre business and the proper treatment of an assignment of call options.

Author:Dorward, R.

Published online:19 July 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

The author considers the Berry ratio in tax literature and jurisprudence, and discusses circumstances in which its application might be appropriate in a transfer pricing context.

Author:Di Cesare, F.

Published online:19 July 2016

2016 (Volume 23), No. 4

International Transfer Pricing Journal

Recently, a number of changes were made to Italian tax law concerning international tax rulings. The new regime formally broadens the scope of the international tax ruling procedure, which – in addition to transfer pricing – may be actually used for different queries of international relevance, including the opportunity to conclude (under certain conditions, also retroactive) agreements on the effective existence in Italy of a permanent establishment of a non-resident entity.

Author:Cooper, J.; Volpato, M.

Published online:25 August 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

The authors discuss the new case study released by the Technical Committee on Customs Valuation of the World Customs Organization. The case study is a significant development, providing a practical example of how certain transfer pricing documentation can be used by customs authorities to determine whether a relationship has influenced the price when assessing customs valuation.

Author:Díaz Tong, E.; Arenas Alvarado, K.

Published online:1 September 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

A Decree was issued that sets forth requirements regarding the submission of transfer pricing declarations and transfer pricing documentation.

Author:Peng, C. (X.)

Published online:31 August 2016

2016 (Volume 23), No. 5 (Next Issue)

International Transfer Pricing Journal

This article attempts to address the arm’s length approach to allocating joint efficiencies within MNEs from a practical perspective, given the assumption that the arm’s length principle is conceptually accountable for the combined force of an MNE. Particularly, this article discusses the five transfer pricing methods in detail as well as real-life solutions to allocating economies of scale, a prototype of joint efficiencies, in the context of procurement activities.

Author:Bilaney, S.K.

Published online:29 August 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

In the Finance Act, 2016, the Indian government has introduced a regime regarding the country-by-country report and the master file under Indian tax law. A partial version of the proposed regime is introduced in the Finance Act, 2016. More specific rules and the format for the master file and country-by-country report will be prescribed in the future. In this article, the author reviews the proposed regime regarding the country-by-country report and the master file, and its anticipated impact on Indian taxpayers.

Author:Biswas, S.

Published online:26 September 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

This article discusses the major issues faced by both taxpayers and tax authorities as regards intra-group service transactions, and analyses in detail the various simplification measures taken by tax administrations of various countries to resolve some of these issues for the taxpayers. The issues can be broadly classified as either the question whether intra-group services have indeed been provided, or, if that is the case, what should be the arm’s length price or charge for such services.

Author:Silberztein, C.; Tristram, J-B.

Published online:23 September 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

The OECD/G20 Base Erosion and Profit Shifting (BEPS) Project deliverables include, among other recommendations, changes to the OECD Model. In order to fulfil the desire of OECD and G20 leaders to dramatically increase the pace in reforming international tax law, the OECD is introducing with the multilateral instrument an innovative tool which should allow rapid implementation of agreed treaty-related measures. The authors address the origin of and work related to this multilateral instrument, its potential contents and the outstanding issues.

Author:Lowell, C.H.; Herrington, M.

Published online:9 September 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

The OECD BEPS Project has given rise to the development of standardized transfer pricing documentation requirements for OECD member and other countries. The authors address the requirements of the country-by-country reporting package and suggest a process for MNEs to undertake to develop compliance and planning procedures, including a checklist that the authors have found to be effective in working with clients.

Author:Bhatnagar, V.

Published online:15 September 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

India recently made a significant move towards aligning its transfer pricing practices with global norms. This article will discuss those recent amendments which have been incorporated into the transfer pricing rules.

Author:Legostaeva, K.; Stroykova, S.

Published online:9 September 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

The authors discuss the requirements that would be imposed by draft legislation on country-by-country reporting, as well as comments and suggestions for improvement as submitted by the business community.

Author:Bernegger, S.; Rosar, W.

Published online:7 September 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

After approval by the Austrian parliament in July 2016, the Transfer Pricing Documentation Law was published in the Official Gazette on 1 August 2016. The authors discuss the ramifications for entities doing business in that country.

Author:Bilaney, S.K.

Published online:26 October 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

Margin-based analysis under transfer pricing involves the use of various profit level indicators or ratios. Thus, understanding of ratio analysis techniques plays an important role in transfer pricing analysis. There are certain ratios which – although very useful – are not frequently used by transfer pricing practitioners, namely the Altman Z-score ratio, the Berry ratio, the operating profit to value added expenses ratio and so on. This article discusses usage and applicability of such uncommon ratios in transfer pricing analysis.

Author:Nguyen, P.T.; Du, B. Ngoc

Published online:27 February 2017

2017 (Volume 24), No. 2

International Transfer Pricing Journal

Vietnam’s Ministry of Finance released a Draft Decree on tax administration of enterprises with related-party transactions which covers transfer pricing rules and some other aspects of direct taxation. The authors analyse key aspects of the Draft Decree and discuss the appropriateness and possible impacts of the proposed changes on Vietnam-based business operations in light of the OECD BEPS Project, existing transfer pricing rules, practical enforcement and expected developments in Vietnam.

Author:Herrington, M.; Lowell, C.H.

Published online:3 March 2017

2017 (Volume 24), No. 2

International Transfer Pricing Journal

The authors continue their analysis of the evolving world of global tax planning, with a particular focus here on means of resolving cross-border tax disputes.

Author:Abdulrazaq, A.O.

Published online:26 October 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The author considers the Nigerian transfer pricing regulations and how they will be impacted by the results of the OECD’s BEPS initiative.

Author:Veldhuizen, R.; Teneketzis, L.

Published online:24 October 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

This article provides an overview of the master file requirements that are introduced as part of the revised Chapter V of the OECD Transfer Pricing Guidelines. First, the new master file requirements are compared with the existing master file concept, followed by a discussion of potential issues related to the implementation of and/or conversion towards the new global master file.

Author:Bilaney, S.K.

Published online:19 October 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The author discusses the approach of the Indian tax authorities to the contentious issue of marketing intangibles, and examines related rulings by various Indian courts in light of the guidance provided by the OECD/G20 in the BEPS final reports.

Author:Fedusiv, O.

Published online:17 October 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

Action 8 claims that the ex post approach is consistent with the arm’s length principle. Based on his analysis in this article, however, the author concludes that the ex post approach may deviate from the arm’s length principle and, consequently, lead to economic double taxation.

Author:Trautmann, V.

Published online:4 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

This article outlines an approach on how to enhance and simultaneously simplify economic analyses in a TNMM environment where commercial company databases are typically used to test the arm’s length nature of a group’s intercompany pricing. By using company life cycle stages derived from cash flow patterns as an additional quantitative screening criterion, this theoretically grounded approach is able to consider the typically unobservable OECD comparability criterion business strategies. In addition to offering better comparability and increased objectivity, this approach can contribute to a significant reduction of efforts linked to qualitative review steps and, therefore, compliance costs for the taxpayer.

Author:Huxtable, J.

Published online:20 March 2017

2017 (Volume 24), No. 2

International Transfer Pricing Journal

On 21 October 2016, Guernsey signed the OECD multilateral competent authority agreement for the automatic exchange of country-by-country reports. The author considers how such reporting is being implemented in Guernsey and the anticipated effects for taxpayers.

Author:Méndez Prado, M.; Guerrero García, K.

Published online:4 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The analysis of capacity building and resources for tax administrations remains a recurring topic when discussing international tax. To contribute to this debate within the OECD Task Force of March 2016, this article presents some conclusions from the fourth regional meeting of Latin American tax administrations, including issues that affect their activities, both directly and indirectly, as well as joint proposals. These matters broadly fall under the headings of training, technology and institutions. The proposals are merely one part of a long process consisting of a series of international meetings to share and discuss the experiences of Latin American tax administrations, and the follow-ups by experts in both national and regional contexts..

Author:Oosterhoff, D.; Nies, B. de

Published online:24 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The innovation box has been beneficial for Dutch companies that invest in IP, but requires modification due to its status as a preferential regime following recommendations in Action 5 of the OECD BEPS project.

Author:Pankiv, M.

Published online:16 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The arm’s length principle, as embedded in article 9 of the OECD Model Convention, is not an anti-avoidance rule and has been misidentified as the primary tool to tackle certain abusive behaviours of multinational enterprises. This article refers to the new OECD guidelines on intangibles as background and provides an overview of the new approaches to transfer pricing analysis in the context of intellectual property; analyses the impact thereof on existing business models; and defines the limitations imposed by the arm’s length principle, as a general principle of international tax law, on making transactional adjustments and disregarding intellectual property arrangements by the tax authorities.

Author:Duffy, J.; Bailey, T.

Published online:16 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

Ireland has introduced a formal APA programme effective from 1 July 2016 which facilitates the initiation of bilateral APAs in accordance with BEPS best practice. Information on concluded APAs may be exchanged with other jurisdictions under either the OECD spontaneous exchange of information regime or the EU Directive on exchange of information.

Author:Pleijsier, A.

Published online:21 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The author provides a critical analysis of the issues likely to arise from the Action 7 Final Report under the OECD’s BEPS initiative. Suggestions are also offered that would relieve some of the potentially negative effects.

Author:Perrou, K.

Published online:13 October 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The Greek parliament has amended the Tax Procedure Code to bring the rules regarding transfer pricing documentation and APA procedures in line with international standards.

Author:Cooper, J.L.; Volpato, M.

Published online:8 December 2016

2017 (Volume 24), No. 1

International Transfer Pricing Journal

This article presents an outline of the legal framework for transfer pricing in Ethiopia, in light of the recently introduced Directive 43/2015.

Author:Korde, A.

Published online:15 December 2016

2017 (Volume 24), No. 1

International Transfer Pricing Journal

This article discusses the issue as to whether foreign exchange gain or loss should be considered when computing the profit level indicator of the tested party and of comparable companies. The author concludes that it might be better to not include foreign exchange fluctuation in this computation because of the conflict between accounting principles and transfer pricing principles.

Author:Bilaney, S.K.

Published online:15 December 2016

2017 (Volume 24), No. 1

International Transfer Pricing Journal

Transfer pricing is one of the most litigious areas of taxation. This article discusses transfer pricing litigation trends in India and various dispute resolution mechanisms available to taxpayers for resolving transfer pricing disputes. In addition, analyses of statistical data relating to results achieved by various dispute resolution mechanisms are also presented.

Author:Quiñones, M.T.

Published online:9 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The author considers current transfer pricing audit trends in some Latin American countries. Topics are selected based on either their importance in the region or their novelty in the transfer pricing arena.

Author:Rasch, M.; Wroblewski, P.

Published online:10 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The authors consider the decision of the European Commission regarding State aid allegedly arising to Fiat based on an APA granted by the Luxembourg tax authorities, and provide their views on the Commission’s decision.

Author:Castro Jurado, S.

Published online:9 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The author reviews the current landscape of transfer pricing rules in Central America and the Dominican Republic, highlighting the key similarities and differences among the countries. The author also notes some trends observed in recent audits

Author:Burkadze, E.

Published online:5 September 2016

2016 (Volume 23), No. 5

International Transfer Pricing Journal

The author examines whether there is a need for both transfer pricing rules and CFC provisions, and what outcomes should be expected where these rules are applied concurrently. An analysis is provided of the structure known as the Double Irish with a Dutch Sandwich and the structure involving a so-called cash-box company in an operating lease arrangement. Moreover, the author considers (i) whether CFC rules can act as a backstop to transfer pricing rules and (ii) whether the application of these two sets of rules could lead to double taxation.

Author:Quiñones, M.T.

Published online:14 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The author reviews legislative changes to Mexican transfer pricing rules in response to Actions 8-10 and 13 of the OECD’s BEPS initiative.

Author:Martins, A.

Published online:20 December 2016

2017 (Volume 24), No. 1

International Transfer Pricing Journal

In Portugal, an increasing number of cases involving transfer pricing disputes are being decided by arbitration courts. This article highlights the impact of testimonial evidence in some of these cases and shows how, in some circumstances, testimonial evidence plays an important role in influencing the outcome of transfer pricing cases.

Author:Csővári, I.

Published online:13 January 2017

2017 (Volume 24), No. 1

International Transfer Pricing Journal

Hungary’s special tax regime on intellectual property was amended as from 1 July 2016 in order to bring Hungarian tax law in line with OECD recommendations contained in the BEPS Action 5 Final Report.

Author:Joseph, A.

Published online:16 January 2017

2017 (Volume 24), No. 1

International Transfer Pricing Journal

The author examines the Australian position towards multinational enterprises which assert that they do not have a permanent establishment in Australia and therefore are not subject to tax in Australia on their income derived by supplying goods and services to customers in Australia. The newly proposed diverted profits tax and its potential application are also considered.

Author:Milewska, M.

Published online:18 January 2017

2017 (Volume 24), No. 1

International Transfer Pricing Journal

The author reviews the economic principles governing dynamics of the current business environment, suggesting a more objective approach to be followed by the Mexican tax authorities for the purpose of transfer pricing audits in order to better evaluate how value is created by multinational enterprises.

Author:Douvier, P-J.; Daudé, M.

Published online:25 January 2017

2017 (Volume 24), No. 2 (Next Issue)

International Transfer Pricing Journal

On 11 October 2016, the Administrative Court of Appeals of Versailles ruled in a case concerning the treatment of state subsidies when determining the cost base under the cost-plus method. The case is also significant as regards the burden of proof in transfer pricing disputes.

Author:See, J.C.; Lee, S.Y.

Published online:25 January 2017

2017 (Volume 24), No. 2

International Transfer Pricing Journal

The tax authorities have announced that, with effect from year of assessment 2018, companies must complete a new Form for Reporting of Related Party Transactions for tax return purposes if the value of related-party transactions disclosed in the audited accounts for the financial year exceeds SGD 15 million.

Author:Bhatnagar, V.

Published online:24 January 2017

2017 (Volume 24), No. 1

International Transfer Pricing Journal

The author discusses the appropriate application of the Berry ratio as a profit level inductor. Guidance from the OECD, the United States, and Japan is considered, along with case law from Indian courts.

Author:Valdivieso, P.; Macías, M.

Published online:8 February 2017

2017 (Volume 24), No. 2 (Next Issue)

International Transfer Pricing Journal

Steps have been taken in Chile to implement the recommendations contained in the Final Reports on Actions 8-10, 12 and 13 as part of the OECD BEPS Project.

Author:Herrington, M.; Lowell, C.H.

Published online:25 January 2017

2017 (Volume 24), No. 1

International Transfer Pricing Journal

This article is the first in a series, which will review considerations that MNEs may want to take into account in adapting their strategies in this evolving world of global tax planning. The authors will address this vital topic in three instalments, namely (i) framing the background, (ii) anticipation of an ever-increasing agenda of disputes and (iii) the epochal opportunity for MNEs to retool their ETR planning strategies.

Author:Möller, L. (Louise)

Published online:9 February 2017

2017 (Volume 24), No. 2

International Transfer Pricing Journal

The South African tax authorities have issued the formal Public Notice on transfer pricing documentation requirements. For many taxpayers, this will result in an increased compliance burden effective for years commencing on or after 1 October 2016.

Author:Hafkenscheid, R.

Published online:12 January 2017

2017 (Volume 24), No. 1

International Transfer Pricing Journal

In this article, the revised interpretation of the arm’s length principle on risk allocation as presented in the BEPS Final Report on Action 8-10 is discussed. By analysis of the main points, the author contests this interpretation and suggests an alternative approach.

Author:Quiñones, M.T.; Camacho, O.

Published online:23 February 2017

2017 (Volume 24), No. 2

International Transfer Pricing Journal

Mexico’s implementation of requirements related to BEPS Action 13 appear to go beyond the OECD recommendations, giving rise to an environment of uncertainty for taxpayers and tax practitioners.

Author:Andree, C.; Bärsch, S-E.; Kluge, S.

Published online:9 November 2016

2016 (Volume 23), No. 6

International Transfer Pricing Journal

The authors investigate the conditions under which a trademark identical to the group name must be licensed in accordance with the arm’s length principle from a German transfer pricing perspective. German case law and recent OECD developments are considered in this regard.

Author:Perrou, K.

Published online:31 January 2017

2017 (Volume 24), No. 2

International Transfer Pricing Journal

After a recent amendment to the Greek Tax Procedure Code (Law 4174/2013), the tax authorities now have the right and duty to reopen years for which the tax obligation has been finalized after a full tax audit has been conducted and a corrective tax assessment has been issued, only in cases where it obtains new information and only provided that the correction leads to the assessment of additional tax for the fiscal years in question. The author examines the effect of this provision on cross-border transfer pricing audits.

Author:Laguerre, L.; Moros, J.

Published online:30 January 2017

2017 (Volume 24), No. 2

International Transfer Pricing Journal

The authors review the current transfer pricing rules in Panama and analyse the impact that the BEPS Project has had there.

Author:Castro Jurado, S.

Published online:17 January 2017

2017 (Volume 24), No. 1

International Transfer Pricing Journal

The author considers the current effects on the Costa Rican transfer pricing regime of the international adoption of the recommendations of the BEPS Actions related to transfer pricing, including Action 13 (regarding transfer documentation) and Actions 8, 9 and 10 (which deal with specific topics and have modified several chapters of the OECD Guidelines). First, the background of the BEPS Actions and the transfer pricing regime are described, followed by an assessment of the effects of each of the Actions.

Author:Agrawal, M.

Published online:1 March 2017

2017 (Volume 24), No. 2

International Transfer Pricing Journal

The Indian tax authorities have updated their comments in the country-specific chapter in the 2016 Draft UN Transfer Pricing Manual, including with regard to marketing intangibles; location savings; intra-group services; financial transactions; the use of multiple year data; and the arm’s length range and its impact on Indian MNEs.

Author:Heidecke, B.; Holst, R.

Published online:20 April 2017

2017 (Volume 24), No. 3

International Transfer Pricing Journal

On 25 January 2017, a draft bill was published of a rule limiting the deduction of royalty payments to foreign related parties. The intention of the draft bill is to disadvantage the use of such IP box regimes that are not in compliance with the OECD’s modified nexus approach. The draft bill provides guidance under which conditions the deduction of royalty payments is limited.

Author:Watson, S.; Palazzo-Corner, N.; Haemmerle, S.

Published online:20 April 2017

2017 (Volume 24), No. 3

International Transfer Pricing Journal

The authors assess why the United Kingdom – given its active leadership throughout much of the BEPS Project – would elect not to implement the revised PE standards through the multilateral instrument.

Author:Vernia, G.

Published online:20 April 2017

2017 (Volume 24), No. 3

International Transfer Pricing Journal

The author outlines new challenges for the tax departments of multinational enterprises (MNEs) arising from the obligations under the newly revised OECD Guidelines. In the current framework of increasing scrutiny by tax authorities, such challenges are especially relevant in the case that an MNE’s presence in a given country is limited to a permanent establishment. The evolution towards the currently applicable law on transfer pricing documentation for permanent establishments and the level of implementation of the new provisions in a sample of significant countries are also presented.

Author:Didenko, V.

Published online:13 April 2017

2017 (Volume 24), No. 3

International Transfer Pricing Journal

A new law came into effect on 1 January 2017 that affects numerous transfer pricing areas, including the criteria for controlled transactions; requirements regarding transfer pricing documentation and the annual transfer pricing report; transfer pricing methods and their application; sources of information for application of the arm’s length principle; the penalty regime; and the assessment of tax liabilities.