The Organisation for Economic Cooperation and Development (OECD) today announced the release of updated versions of transfer pricing country profiles that reflect the current transfer pricing rules and practices of 31 participating countries.
The transfer pricing country profiles (as published by the OECD) provide up-to-date information on aspects of the transfer pricing laws as provided by countries. The OECD release further notes many countries and jurisdictions have implemented measures to reflect the revisions to the Transfer Pricing Guidelines resulting from the 2015 Reports on base erosion and profit shifting (BEPS) Action 8-10 Aligning transfer pricing outcomes with value creation and on BEPS Action 13 Transfer pricing documentation and country-by-country reporting, in addition to changes incorporating the revised guidance on safe harbours approved in 2013 as well as consistency changes made to the OECD Transfer Pricing Guidelines.
According to today’s OECD release, the updated country profiles focus on each country’s domestic law regarding key transfer pricing principles—including the arm's length principle, transfer pricing methods, comparability analysis, intangible property, intra-group services, cost contribution agreements, transfer pricing documentation, administrative approaches to avoiding and resolving disputes, safe harbours and other implementation measures.
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