Transfer Pricing

Transfer Pricing

TaxNewsFlash-Transfer Pricing — KPMG's reports of transfer pricing developments from across the globe

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TaxNewsFlash-Transfer Pricing

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BEPS Action 13: Latest country implementation update

Updated weekly, this summary report in table format offers a snapshot of implementation of country-by-country (CbC) reporting and Master file / Local file documentation requirements around the world.

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August 2016

31 Aug - Germany: Transfer pricing rules requiring adjustment on cross-border arrangements referred to CJEU

31 Aug - Poland: Tax authorities continue to focus on transfer pricing

30 Aug - Ireland: EC state aid investigation, “illegal tax benefits” to multinational company of €13 billion

25 Aug - Poland: Cash-pooling arrangements are loans, transfer pricing documentation rules apply

25 Aug - Poland: Increased number of transfer pricing audits, increased assessments

24 Aug - U.S. Treasury “white paper” on EC’s state aid investigations of transfer pricing rulings

24 Aug - OECD: Comments on proposed amendments, OECD Transfer Pricing Guidelines

22 Aug - Liechtenstein: Automatic exchange of country-by-country reporting

19 Aug - Asia Pacific: Transfer pricing review (2016 supplement)

18 Aug - Czech Republic: Automatic exchange of APAs, country-by-country reporting proposals

16 Aug - India: Application of Berry ratio, transfer pricing methodology

16 Aug - Israel: Country-by-country reporting, transfer pricing documentation in budget plan

16 Aug - Hong Kong: Management fee, head office recharge arrangements under scrutiny

16 Aug - Turkey: New transfer pricing rules enacted, aligned with OECD guidelines

15 Aug - Greece: Transfer pricing documentation deadline is extended

11 Aug - Nigeria: Country-by-country reporting, implementation moves forward

10 Aug - Australia: Amnesty for voluntary disclosure of offshore hub-related tax risks; transfer pricing implications

9 Aug - Canada: Discussion, observations about country-by-country reporting proposal

9 Aug - Germany: Loan guarantees by German parent company, for foreign subsidiaries

8 Aug - Asia Pacific: Country-by-country reporting, status update for region

8 Aug - EU: Country-by-country reporting—an EU perspective

5 Aug - Australia: Review of transfer pricing developments since 2012; plans for more changes

5 Aug - Luxembourg: Draft law for country-by-country reporting submitted to Parliament 

5 Aug - India: No transfer pricing referral, when taxpayer claims no “international transactions”

5 Aug - India: Taxpayer allowed to change from TNMM to CUP during proceedings

3 Aug - Canada: Country-by-country reporting requirements in draft legislative proposals

1 Aug - Korea: Revised legislation, transfer pricing and country-by-country reporting rules

July 2016

29 Jul - Mexico: Transfer pricing measures in tax legislation

26 Jul - India: Transfer Pricing Officer’s authority to examine arm’s length price

25 Jul - Austria: New transfer pricing documentation, country-by-country rules effective for 2016

25 Jul - OECD: Report on status of BEPS project

21 Jul - Czech Republic: Regional courts reject basis for transfer pricing assessments

18 Jul - U.S. Tax Court: Newspaper’s motion to intervene in cost-sharing arrangement case held in abeyance

15 Jul - Hong Kong: Transfer pricing and offshore tax regimes

14 Jul - India: Taxpayer must have opportunity to cross-examine comparable companies’ personnel

13 Jul - China: Transfer pricing documentation, related-party reporting guidance from BEPS project

11 Jul - Hong Kong: BEPS participation, recommendations pending government action

8 Jul - India: Valuation of intangibles; only future projections, no hindsight allowed

7 Jul - OECD: Discussion draft under BEPS Actions 8-10, profit split guidance 

7 Jul - OECD: Discussion draft under BEPS Action 7, profits attributed to
permanent establishments

6 Jul - Hong Kong: Transfer pricing and BEPS considerations—intangible property and R&D activities

6 Jul - Sweden: Revising an agreement’s conditions to arm’s length terms

5 Jul - Belgium: Country-by-country reporting, transfer pricing documentation; new law is published

5 Jul - India: No transfer pricing adjustment; license agreement with U.S. company

4 Jul - Japan: Guidance under new transfer pricing documentation rules

4 Jul - OECD: BEPS discussion drafts include revised guidance on profit splits

4 Jul - OECD: Comments invited on revised transfer pricing guidelines

1 Jul - Germany: Country-by-country reporting, BEPS items in draft bill

OECD: Comments invited on revised transfer pricing guidelines

OECD: Comments invited on revised transfer pricing guidelines

OECD: Comments invited on revised transfer pricing guidelines

May 2016

25 May - Australia: Country-by-country, final Local files released

25 May - Norway: Transfer pricing documentation, country-by-country reporting included in political agreement

24 May - Latvia: Compensating adjustments and transfer prices

24 May - Sweden: Commentary on transfer pricing documentation, country-by-country legislative proposals

23 May - US: Senators again express concerns about EC state-aid investigations

23 May - Denmark: Transfer pricing adjustment statistics, trends and

20 May - EU: “State aid” and transfer pricing rulings

19 May - Denmark: New transfer pricing documentation requirements

19 May - Austria: Proposed legislation, transfer pricing documentation and country-by-country reporting

16 May - Belgium: Draft law, country-by-country reporting and transfer pricing documentation requirements

13 May - Czech Republic: Transfer pricing examination trends

13 May - Norway: Proposed legislation to implement country-by-country reporting rules

12 May - OECD: Canada, Iceland, India, Israel, New Zealand, China advance country-by-country reporting

12 May - US: IRS practice unit, taxpayer’s affirmative use of section 482

11 May - Peru: New forms for transfer pricing declarations

10 May - Hungary: Transfer pricing measures in tax legislative proposals

10 May - India: No transfer pricing adjustment for advertising, marketing, and promotion

3 May - Sweden: Proposed legislation, transfer pricing documentation and
country-by-country reporting exchange

March 2016

31 Mar - US: APMA program, APA statistics for 2015

31 Mar - Korea: Master file and local file templates are released

28 Mar - UK: BEPS items included Finance (No. 2) Bill 2016 

24 Mar - OECD: Treaty benefits for non-CIV funds; BEPS follow-up consultation 

23 Mar - Canada: Country-by-country reporting, transfer pricing proposals in 2016 federal budget

23 Mar - EU: Draft proposal on “public” country-by-country reporting

22 Mar - India: No aggregation of transactions for benchmarking in “unusual” circumstances

22 Mar - OECD: Standardized electronic format for exchanging country-by-country reports

21 Mar - US: IRS “practice unit” on inbound resale price method, routine distributor

18 Mar - Turkey: Draft communiqué on transfer pricing documentation, country-by-country reporting

16 Mar - Indonesia: FAQs on transfer pricing

14 Mar - India: New guidelines for transfer pricing referrals

14 Mar - US: IRS “practice unit” on interest expense limitation under section 163(j), related-party debt

11 Mar - UK: Preparing for country-by-country reporting

10 Mar - Nigeria: Transfer pricing comparable data constraint—issues, implications

9 Mar - Australia: Costs of non-compliance with country-by-country reporting requirements

8 Mar - EU: Automatic exchange of country-by-country reporting by multinational companies

Mar 8 - India: Brand-promotion expenses not “international transaction” for arm’s length standard

7 Mar - US: Treasury responds to Congress, EU state-aid “tax ruling” investigations

7 Mar - US: IRS "practice unit," residual profit split method, outbound

4 Mar - Poland: Enhanced tax audit focus on transfer pricing

4 Mar - US: IRS “practice unit,” transfer pricing documentation by outbound taxpayers

3 Mar - UK: Final country-by-country reporting regulations

3 Mar - EU: State-aid investigations of “tax rulings,” response to U.S. concerns

2 Mar - Dominican Republic: Amount triggering transfer pricing regime, related-party transactions (2016) 

1 Mar - India: Country-by-country reporting, transfer pricing documentation rules in budget 2016

August 2015

30 Aug - India: Voice-call centers; not all IT-enabled services are comparable

28 Aug - US: IRS training guides on foreign-to-foreign transactions, transfer pricing rules

26 Aug - Ecuador: Percentages for deducting royalties, other payments to related parties

20 Aug - Korea: Law to implement BEPS-related transfer pricing requirements

18 Aug - US: Explanation of competent authority revenue procedure

18 Aug - US: Explanation of new APA guidance

12 Aug - Australia: Country-by-country reporting update

12 Aug - US: New guidance for Competent Authority assistance

12 Aug - US: New guidance under APA program

10 Aug - Australia: Renewed focus on arm’s length behaviours

10 Aug - China: Cross-border payments to foreign related parties

7 Aug - Australia: Proposed CbC, transfer pricing documentation requirements

7 Aug - US: Future cost-sharing regulations, controlled transactions involving partnerships

6 Aug - India: First APA rollback signed; concerns U.S. company


July 2015

31 Jul - Hong Kong: Focus on head office, service company recharges

27 Jul - US: Tax Court finds cost-sharing regulations invalid

20 Jul - India: Interest on funds advanced to related entity

17 Jul - India: MAP with Japan; manufacturer’s transfer pricing resolved

15 Jul - India: Multiple-year data allowed, transfer pricing rules satisfied

8 Jul - Poland: Draft transfer pricing regulations, documentation and reporting requirements

7 Jul - China: Guidance on cost sharing agreements


June 2015

30 Jun - India: Comparables must be functional similar, not identical

30 Jun - India: “Groundbreaking” APA, taxpayer in IT industry

26 Jun - WCO: Guide on customs valuation, transfer pricing

22 Jun - Czech Republic: Next wave of transfer pricing inspections

22 Jun - India: No adjustment on share capital issuance

19 Jun - OECD: Comments, BEPS Action 8 (hard-to-value intangibles) discussion draft

13 Jun - India: APA rollback FAQs

12 Jun - Australia: Arm’s length, thin cap testing; transfer pricing landscape

12 Jun - OECD: Webcast provides BEPS status update

10 Jun - OECD: Initial impressions of BEPS country-by-country reporting implementation package

9 Jun - EU: Specific tax rulings requested from countries

8 Jun - Korea: Transfer pricing, customs valuations advance arrangements

8 Jun - OECD: Implementation package for BEPS country-by-country reporting

5 Jun - OECD: Initial impressions, BEPS Action 8 (hard-to-value intangibles)

5 Jun - Panama: Transfer pricing report deadline

5 Jun - India: Common director, management gives rise to “associated enterprises”

4 JunOECD: BEPS discussion draft, Action 8 (hard-to-value intangibles)

1 JunOECD: Comments on BEPS Action 8 (cost contribution arrangements)

1 Jun - Denmark: Enhanced transfter pricing reporting requirements, controlled transactions


May 2015

28 May - Sweden: Transfer pricing case pending high court decision 

27 May - Poland: Proposals to revise transfer pricing documentation rules

26 May - India: Draft rules on “range concept,” multiple-year data

26 May - Turkey: APA update

18 May - Korea: Simplified APA program for foreign SMEs

13 May - Australia: Transfer pricing-related measures in federal budget 2015

12 May - Jamaica: Transfer pricing legislation tabled

11 May - Thailand: Draft transfer pricing legislation

6 May - Indonesia: APA guidelines

5 May - India: Most appropriate method, under cost contribution agreement

5 May - OECD: Discussion of BEPS Action 8 (cost contribution arrangements)


April 2015

30 Apr - Italy: Pending transfer pricing, international tax reform proposals

30 Apr - India: Factors for including, excluding comparables

29 Apr - OCED: Discussion draft, BEPS Action 8 (cost contribution arrangements)

29 Apr - Turkey: APA draft guidance

28 Apr - Korea: Related-party marketing fee subject to customs duty

27 Apr - OECD: BEPS Action 11 (improving analysis of BEPS)

15 Apr - Norway: Tax authorities may use "secret comparables"

6 Apr - India: Interest rate on related-party loans

6 Apr - France: Intergroup arrangements identified in tax-avoidance transactions

6 Apr - US: Related-party indebtedness section 965 repatriation rules


March 2015

31 Mar - Spain: Enhanced documentation, reporting proposed; following BEPS Action 13

31 Mar - India: APA rollback application deadline is extended

30 Mar - US: APMA program statistics for 2014

24 Mar - Denmark: Transfer pricing adjustment trends, forecast

23 Mar - EU: Risks of investigations into tax rulings

23 Mar - Taiwan: Amendments to transfer pricing rules

19 Mar - India: Promotion expenses subject to transfer pricing rules

19 Mar - EU: Automatic exchange of cross-border tax rulings

17 Mar - India: APA rollback rules, pre-filing consultations

17 Mar - US: Accounts receivable not creating related-party indebtedness

2 Mar - Australia: Guidance for invoking reconstruction provisions

2 Mar - Serbia: Arm’s length interest rates, related-party loans

2 Mar - Vietnam: Reporting related-party transactions, arm’s length compliance


February 2015

27 Feb - Australia: Initial steps for APA process

25 Feb - Canada: Intercompany management fees

23 Feb - Italy: Aligning customs valuation, transfer pricing policy

20 Feb - Iceland: Transfer pricing regulations

19 Feb - OECD: Consultation on transfer pricing, 19-20 March

17 Feb - Australia: Transfer pricing recordkeeping rules

17 Feb - Ukraine: Transfer pricing rules are revised, expanded

12 Feb - OECD: Transfer pricing documentation, country-by-country reporting

11 Feb - Taiwan: Separate analysis for certain controlled transactions

10 Feb - OECD: BEPS comments, transfer pricing guidelines

10 Feb - India: Transfer pricing documentation for certain electric companies

9 Feb - Switzerland: Transfer pricing implications of exchange rate movements

6 Feb - OECD: Update on BEPS country-by-country reporting

5 Feb - New Zealand: Effects of Australian rules on trans-Tasman operations

5 Feb - Indonesia: Mutual agreement procedures (MAP) guidance

3 Feb - Belgium: New wave of transfer pricing audits

3 Feb - South Africa: Withholding tax on transfer pricing adjustments

2 Feb - India: No government appeals in equity infusion cases


January 2015

29 Jan - Spain: Law modifying related-party transactions

27 Jan - Switzerland: "Big data" approach to transfer pricing

27 Jan - India: Resolving MAP IT-related cases with United States

21 Jan - India: Functional, asset and risk analysis

21 Jan - France: Transfer pricing measures are enacted

20 Jan - OECD: Comments concerning BEPS Action 10 (low value-adding services)

19 Jan - OECD: Comments concerning BEPS Action 14 (dispute resolution)

19 Jan - Australia: Arm's length consideration and related-party loans

16 Jan - EU: Investigation of Luxembourg transfer pricing rulings

13 Jan - Greece: APA procedures, process

12 Jan - Bolivia: Transfer pricing requirements

12 Jan - OECD: Comments on BEPS Actions 6 and 7

7 Jan - Singapore: New transfer pricing guidelines

Transfer Pricing Review (2015)

Transfer Pricing Review provides transfer pricing information for almost 100 countries, including documentation requirements, deadlines, transfer pricing methods, penalties, special considerations, advance pricing agreements, and competent authority matters.

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