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Issue No. 3 - 2016 of the International Transfer Pricing Journal is now available online.

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Number 3 - 2016 contains the following:
ARTICLES
International

Delineating the Terms of a Single Composite Transaction in Transfer Pricing: The Role of Step Transaction Analysis in the Aggregation of Interrelated (Linked) Contracts

Amir Pichhadze
This article provides guidance on the task of aggregation and disaggregation of contract terms in transfer pricing. It explains that: (1) aggregation involves giving expression to the parties’ single composite transaction; (2) aggregation requires applying a step-transaction analysis, which makes it possible to delineate the true substance of the composite transaction, and then apply the relevant tax rule(s) based on the combined effect of the interrelated contracts; and (3) disaggregation may be used as an anti-avoidance measure. The article also identifies notable implications of aggregation.
International
Country-by-Country Reporting: Filing Obligations and First Implementation
Roderick Veldhuizen and Lazaros Teneketzis

This article provides an overview of the proposed country-by-country filing obligations based on the guidance found in the revised Chapter V of the OECD Transfer Pricing Guidelines (as per the Action 13 Final Report), and discusses certain issues pertaining to the initial implementation of CbC reporting.

India
Draft Guidance of Place of Effective Management
Vispi T. Patel, Rajiv Shah and Kejal P. Visharia
India has expressed a reservation in the Commentary on the OECD Model as regards the place of effective management, stating that the determination of the place of effective management should be guided by the place where the main and substantial activity of the entity is carried on. This reservation seems to have been taken into consideration when one considers the Indian Draft Guidelines for determining the place of effective management of a company under the Income Tax Act.
International
Global Transfer Pricing Conference “Transfer Pricing in a Post-BEPS World”
Alfred Storck, Raffaele Petruzzi, Marta Pankiv and Romero J.S. Tavares
This article highlights the items discussed during the Global Transfer Pricing Conference “Transfer Pricing in a Post-BEPS World”, organized by the WU Transfer Pricing Center at the Institute for Austrian and International Tax Law at WU (Vienna University of Economics and Business), and summarizes the topics analysed during the eight sessions of the event.
International
Strategic Control of Transfer Pricing in a BEPS Context
Christian Plesner Rossing, Thomas C. Pearson and Ardit Nesimi

This article provides an overview of key concepts for controlling transfer pricing strategies based on the Levers of Control framework.

RECENT DEVELOPMENTS
Australia
Country-by-Country Reporting: Law in the Making
Anton Joseph
Legislative progress in the BEPS area has been fairly quick in Australia, culminating with the enactment of the Tax Laws Amendment (Combating Multinational Tax Avoidance) Act No. 170 of 2015 (date of assent: 11 December 2015). The author reviews the potential impact of the Act as regards transfer pricing documentation and penalties.
Belarus
Changes in Transfer Pricing Regulations
Viktar Strachuk
This article analyses the changes in the transfer pricing regulations in Belarus which are in effect from 1 January 2016.
Ireland
Country-by-Country Reporting Template Published
Shane Hogan and Caroline Austin

The authors review the Irish legislation which introduces country-by-country reporting, and its implications for multinational enterprise groups doing business in and from Ireland.

Italy
Assessment Methods for Intangible Assets: Unwrapping the Italian Patent Box to Better Grasp What’s Inside and How Much It Is Worth
Simone Zucchetti, Andrea Pallotta and Oreste Lanfranchi
In their previous article in this journal, the authors examined the technical aspects of the new Italian patent box regime introduced in 2015, which provides for a partial exemption of income arising from qualifying intellectual property rights. This second part of the article will primarily focus on valuations techniques to determine the economic contribution of the qualifying intellectual property assets to the overall income of the prospective beneficial taxpayer.
Japan
Court Ruling on Whether the Warehouse of an Online Sales Business Constitutes a Permanent Establishment
Naoki Oka
The author considers several recent Japanese court cases that shed light on the issue discussed in the final report on OECD Action 7 (BEPS).
Kazakhstan
Ranges Used for Transfer Pricing Purposes

Tomas Balco and Xeniya Yeroshenko

The authors discuss current rules and administrative practices in respect of the determination of ranges for arm’s length prices. Deviations from international practice are noted, and various approaches to determining transaction prices are presented.
Sweden

Reaction to the Final OECD BEPS Package

Anna Hankó Faragó
This article presents the reaction or – in certain cases – lack of reaction in Sweden to the BEPS final reports, and focuses on actions most relevant from a Swedish perspective, and the effect that they might have on existing Swedish law.
United States
US Country-by-Country Reporting Requirement
Moises Dorey
To further explore the new US tax documentation requirement, the author defines the taxpayers who must file a US country-by-country report; describes the information to be provided and offers some final remarks regarding the implementation process.
CUMULATIVE INDEX
GLOBAL COVERAGE OF TRANSFER PRICING ISSUES