Transfer Pricing - Newsflash: Transfer Pricing Reporting

April 29, 2014

The OECD recently released its updated discussion draft on Transfer Pricing Documentation and Country-by-Country Reporting as part of its ongoing review of base erosion and profit shifting (BEPS) in the international tax system. This will result in a major change in the way that multinational enterprises (MNEs) document their transfer pricing policies. The planned introduction of country-by-country reporting and stricter transfer pricing documentation requirements will greatly increase the transparency of businesses’ value chains. It will also mean that businesses will need to compile the required data effectively.

Action is recommended now to test reporting capabilities and maximise the time to address shortcomings and potential tax exposure.

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