The Organisation for Economic Cooperation and Development (OECD) published new transfer pricing country profiles for 14 countries—Australia, China, Estonia, France, Georgia, Hungary, India, Israel, Liechtenstein, Norway, Poland, Portugal, Sweden, and Uruguay. These new profiles reflect the current transfer pricing rules and practices of each country.
The profiles of Belgium and Russia have been updated, thus making country profiles available for 44 countries.
The updated transfer pricing country profiles reflect revisions to the Transfer Pricing Guidelines resulting from the reports from the base erosion and profit shifting (BEPS) Actions 8-10, Aligning Transfer Pricing Outcomes with Value Creation, and Action 13, Transfer Pricing Documentation and Country-by-Country Reporting.
The OECD release explains that the transfer pricing profiles focus on a country’s domestic law regarding key transfer pricing principles including:
The information contained in a transfer pricing country profile is intended to clearly reflect the current state of each country’s law and to indicate to what extent the transfer pricing rules follow the OECD Transfer Pricing Guidelines.
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.