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International Transfer Pricing Journal
 
This free e-mail service informs you about the contents of the forthcoming edition of International Transfer Pricing Journal.

Issue No. 2 - 2016 of the International Transfer Pricing Journal is now available online.

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Number 2 - 2016 contains the following:
ARTICLES
International

The BEPS Action 8 Final Report: Comments from Economists

Deloris R. Wright, Harry A. Keates, Justin Lewis and Lana Auten

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).

International

The Risky Side of Transfer Pricing: The OECD Base Erosion and Profit Shifting Reports Sharpen the Rules on Risk Allocation under the Arm’s Length Standard

Isabel Verlinden, David Ledure and Maxime Dessy

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.

Canada

Master File, Local File and Country-by-Country Reporting: A Canadian Perspective

J. Scott Wilkie

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.

Germany

Transfer Pricing Implications of Action 4 under the OECD’s BEPS Initiative

Jörg Hülshorst, Maximilian Tenberge, Svetlana Kuzmina, Alexander Hoß and Andreas Westermeier

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.

International

The CUP Method and Statistical Methods

Bjoern Heidecke, Markus Breuer and Martin Teller

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.

RECENT DEVELOPMENTS
Argentina

Deduction of Intra-Group Charges in Argentina

Daniel Rybnik

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.

Denmark

Country-by-Country Reporting

Jens Wittendorff

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.

Germany

Country-by-Country Reporting

Stephan Rasch, Katharina Mank and Susanne Tomson

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.

Ghana

Stemming the Tide of Transfer Pricing: A Critical Evaluation of the Efficacy of Ghana’s Transfer Pricing Rules on Services

Abdallah Ali-Nakyea and William Kofi Owusu Demitia

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.

Greece

Publication of Clarifications on Transfer Pricing Documentation

Katerina Perrou

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

Poland

Changes in Advance Pricing Agreements

Krzysztof Lasiński-Sulecki

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.

Russia
Draft Law To Amend Transfer Pricing Rules
Svetlana Stroykova

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.

United Kingdom

The Future of UK Interest Deductibility and the Patent Box Regime

Andrew Casley, Daniel Pybus and Susan Vincent

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.

CUMULATIVE INDEX
GLOBAL COVERAGE OF TRANSFER PRICING ISSUES
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