International - How to Revitalize the EC Arbitration Convention: The New Recommendations of the Joint Transfer Pricing Forum
- F. Di Cesare
- International Transfer Pricing Journal, 2010 (Volume 17), No 4
- 17 June 2010
On 14 September 2009 the European Commission issued a communication, COM (2009) 472 final, to the Council, the European Parliament and the Economic and Social Committee on the work of the EU Joint Transfer Pricing Forum from 2007 through 2009, along with a related proposal for a revised Code of Conduct for the effective implementation of the EC Arbitration Convention. If Member States do actually adopt the revised Code of Conduct, one may expect an enhanced exploitation of this formidable tool which has been devised to reduce double taxation arising from transfer pricing adjustments. This article considers the recommendations made by the Joint Transfer Pricing Forum, as well as the progress toward the efficient utilization of the Arbitration Convention and indeed the remaining flaws which will hinder its proper functioning.