This document summarizes key aspects of updating transfer pricing regimes based on Chapter C.1 of the UN TP Manual. It discusses the general legal environment for transfer pricing, including an overview of extant TP rules in countries and specific domestic TP rules. Regarding updates, it emphasizes the importance of gathering information through regional cooperation, engagement with international organizations, and participation in capacity building initiatives to regularly evaluate and improve domestic TP legislation.
Objectives & Agenda :
Transfer Pricing is one of the most litigious areas in Taxation. In this Webinar we shall look at some of the recent Judicial Precedents in Transfer Pricing Law with the aim of understanding the issues which arise and the views taken by the Authorities and the Court of Law. The Webinar discusses the facts of the case, issues and the Principles held by the Courts in each of these Decisions.
OBJECTIVE
OECD Inclusive Framework released a public consultation document on matters where its members seek input from stakeholders in conducting this 2020 review. This webinar shall touch upon the issues relating to implementation, scope and content of CbC Reporting set out in the document for public consultation.
Objectives & Agenda :
To understand the rationale behind Transfer Pricing and the need for documentation. To know the contents of Transfer Pricing Report in detail and appendix to Transfer Pricing Report. The webinar would cover a detailed process for preparation of Transfer Pricing Report.
OBJECTIVE
“Gig Economy” refers to digital platforms that allow independent freelancers to connect with individuals or businesses for short-term services or asset-sharing. The growth of sharing and gig economy can lead to greater transparency and minimise compliance burdens for both tax administrations and taxpayers. This webinar shall deal with the model rules for reporting by the Platform Operators set out by the OECD.
Transfer pricing is increasingly influencing significant changes in tax legislation around the world. This issue of Transfer Pricing News focuses on recent developments in the field of transfer pricing in Kuwait, the Netherlands and Switzerland. It also includes an interesting article on country-by-country reporting and an article from BDO Belgium about a conflict of interest between transfer pricing and customs.
Objectives & Agenda :
Transfer Pricing is one of the most litigious areas in Taxation. In this Webinar we shall look at some of the recent Judicial Precedents in Transfer Pricing Law with the aim of understanding the issues which arise and the views taken by the Authorities and the Court of Law. The Webinar discusses the facts of the case, issues and the Principles held by the Courts in each of these Decisions.
OBJECTIVE
OECD Inclusive Framework released a public consultation document on matters where its members seek input from stakeholders in conducting this 2020 review. This webinar shall touch upon the issues relating to implementation, scope and content of CbC Reporting set out in the document for public consultation.
Objectives & Agenda :
To understand the rationale behind Transfer Pricing and the need for documentation. To know the contents of Transfer Pricing Report in detail and appendix to Transfer Pricing Report. The webinar would cover a detailed process for preparation of Transfer Pricing Report.
OBJECTIVE
“Gig Economy” refers to digital platforms that allow independent freelancers to connect with individuals or businesses for short-term services or asset-sharing. The growth of sharing and gig economy can lead to greater transparency and minimise compliance burdens for both tax administrations and taxpayers. This webinar shall deal with the model rules for reporting by the Platform Operators set out by the OECD.
Transfer pricing is increasingly influencing significant changes in tax legislation around the world. This issue of Transfer Pricing News focuses on recent developments in the field of transfer pricing in Kuwait, the Netherlands and Switzerland. It also includes an interesting article on country-by-country reporting and an article from BDO Belgium about a conflict of interest between transfer pricing and customs.
Transfer Pricing Forum: Transfer Pricing for the International PractitionerMatheson Law Firm
Tax Partner, Catherine O’Meara, wrote an update for Bloomberg Tax on recent developments in Ireland’s transfer pricing rules. The article provides an update on the type of audit activity we are seeing in Ireland under transfer pricing rules, the incorporation of the revised OECD Transfer Pricing Guidelines into Irish law and Ireland’s transfer pricing documentation requirements.
Objectives & Agenda :
To know the background of Abu Dhabi Global Market (ADGM) and the kinds of business that can be set-up in ADGM. To understand the procedure for setting-up business in ADGM and the benefits of operating from ADGM. To analyse the restrictions placed on persons operating in ADGM. To know the rules governing ADGM and finally the webinar will cover the compliances that has to be done while carrying out operations in ADGM
M&A in India may trigger merger control and Competition Law issues. Avimukt Dar recently spoke about combinations, thresholds and some of the notification triggers that you need to be aware of and potential exemptions that might apply
Tax Health Check Services, We provide the customer with the tax health check program that focus very much on the compliance position and tax filing procedures of your company
Doanh Duc Tax Consulting Corporation
www.doanhduc.com
Presentation on the Impact of COVID-19 and New Tax Regime on EmployeesTaxmann
Topics Covered in the Presentation:
1. Impact of Covid-19 on Employees
• Tax treatment in case of pay-cuts
• Tax treatment in case of deferment of salary
• Tax treatment of allowances during the lockdown period
• Issues involved in withdrawal from Savings Scheme
• Changes in the rules for contribution to Provident Fund
2.New Tax Regime under Section 115BAC
• Introduction to the new or alternative tax regime
• Tax rates in the new regime
• Comparison between old and new tax regime
• Conditions to opt the tax regime
• Breakeven points
• How to opt for the new tax regime?
• Consequences in case of breach of conditions
• TDS from salary as per new tax regime
Taxmann’s Webinar on COVID Impact on Transfer PricingTaxmann
COVID-19 has created a spell of disruptions and changes that have left practically no facet of business untouched. OECD also recently released guidance on how to manage the impact of the pandemic in order to correctly apply the arm's length principle in intra-group transactions.
Since the ex-ante arm's analysis is time-sensitive, let’s hear from experts on the proposed solutions on the aforesaid framework and the upcoming challenges for taxpayers.
This international transfer pricing guide provides an overview of the different transfer pricing rules and regulations in key countries and details of how you can get further advice from Grant Thornton specialists who can help with:
• audit support
• documentation
• planning
• supply chain re-engineering
Transfer Pricing Forum: Transfer Pricing for the International PractitionerMatheson Law Firm
Tax Partner, Catherine O’Meara, wrote an update for Bloomberg Tax on recent developments in Ireland’s transfer pricing rules. The article provides an update on the type of audit activity we are seeing in Ireland under transfer pricing rules, the incorporation of the revised OECD Transfer Pricing Guidelines into Irish law and Ireland’s transfer pricing documentation requirements.
Objectives & Agenda :
To know the background of Abu Dhabi Global Market (ADGM) and the kinds of business that can be set-up in ADGM. To understand the procedure for setting-up business in ADGM and the benefits of operating from ADGM. To analyse the restrictions placed on persons operating in ADGM. To know the rules governing ADGM and finally the webinar will cover the compliances that has to be done while carrying out operations in ADGM
M&A in India may trigger merger control and Competition Law issues. Avimukt Dar recently spoke about combinations, thresholds and some of the notification triggers that you need to be aware of and potential exemptions that might apply
Tax Health Check Services, We provide the customer with the tax health check program that focus very much on the compliance position and tax filing procedures of your company
Doanh Duc Tax Consulting Corporation
www.doanhduc.com
Presentation on the Impact of COVID-19 and New Tax Regime on EmployeesTaxmann
Topics Covered in the Presentation:
1. Impact of Covid-19 on Employees
• Tax treatment in case of pay-cuts
• Tax treatment in case of deferment of salary
• Tax treatment of allowances during the lockdown period
• Issues involved in withdrawal from Savings Scheme
• Changes in the rules for contribution to Provident Fund
2.New Tax Regime under Section 115BAC
• Introduction to the new or alternative tax regime
• Tax rates in the new regime
• Comparison between old and new tax regime
• Conditions to opt the tax regime
• Breakeven points
• How to opt for the new tax regime?
• Consequences in case of breach of conditions
• TDS from salary as per new tax regime
Taxmann’s Webinar on COVID Impact on Transfer PricingTaxmann
COVID-19 has created a spell of disruptions and changes that have left practically no facet of business untouched. OECD also recently released guidance on how to manage the impact of the pandemic in order to correctly apply the arm's length principle in intra-group transactions.
Since the ex-ante arm's analysis is time-sensitive, let’s hear from experts on the proposed solutions on the aforesaid framework and the upcoming challenges for taxpayers.
This international transfer pricing guide provides an overview of the different transfer pricing rules and regulations in key countries and details of how you can get further advice from Grant Thornton specialists who can help with:
• audit support
• documentation
• planning
• supply chain re-engineering
BEPS Webcast #4 - Presentation of 2014 DeliverablesOECDtax
As part of the official launch of the BEPS 2014 Deliverables, you are invited to join senior members from the OECD's Centre for Tax Policy and Administration (CTPA) for a live webcast on 16 September 2014 at 4:00PM (CEST, Paris time) as they discuss the details of the first set of deliverables, the involvement of developing countries, the input from stakeholders, as well as the planned next steps.
View the webcast: http://www.oecd.org/tax/beps-webcasts.htm
BEPS Webcast #8 - Launch of the 2015 Final ReportsOECDtax
Senior members from the OECD's Centre for Tax Policy and Administration (CTPA) commented on the final outputs of the OECD/G20 Base Erosion and Project Shifting Project, including the next steps and the involvement of developing countries.
Addressing international corporate tax evasion an analysis of the oecd acti...Florian Marchal
This presentation aims to describe the issue around the international tax standards which are not adapted to the ongoing changes in the economy, creating loopholes and opportunities for base erosion and profit shifting. Such issue is currently being tackled and is taking place in a context where the OECD established the BEPS action plan.
This work is based around the following research question: Is the BEPS initiative an appropriate approach to harmonize the international tax system and consequently reduce base erosion and profit shifting?
Director: Professor Jean-Pierre De Laet
Assessor and jury president: Professor Pascal Minne
Session by Raffaele Russo, Head, BEPS Project, OECD Centre for Tax Policy and Administration, Meeting of the OECD Parliamentary Group on Tax, 19 Oct 2015
Unitary Taxation with a Global Formulary Approach as a Realistic and Appropriate Option for Developing Nations: A China Case Study
This is a Presentation by Kerrie Sadiq
(project funded by the ICTD)
International Tax Planning after BEPS - A Country SpotlightTIAG_Alliance
The OECD initiative against “Base Erosion and Profit Shifting” was
commissioned by the G-20 in 2013. Final deliverables were presented to the G-20 in November 2015.
“Base Erosion and Profit Shifting (BEPS) refers to tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity, resulting in little or no overall corporate tax being paid. BEPS is of major significance for developing countries due to their heavy reliance on corporate income tax, particularly from multinational enterprises (MNEs.)”
Creators and Presenters:
• Russell Brown, LehmanBrown, China
• Florence Bastin, Fiduciaire du Grand-Duché de
Luxembourg S.à r.l. (FLUX)
• Fabrice Rymarz, Racine, France
• Simone Hennessy, HSOC, Ireland
• Fuad Saba, FGMK, Chicago, USA (Moderator)
Legal Security: Co-Operative Compliance in The United KingdomQUESTJOURNAL
ABSTRACT: This paper explores the co-operative compliance approaches implemented by the Netherlands. The OECD principles on co-operative compliance are the paper’s framework. The Dutch approach on cooperative compliance is analysed with the OECD framework. It is concluded that the Dutch co-operative compliance approach is not creating legal security. This research has created the legal framework for comparing the co-operative compliance approach between countries.
Transfer Pricing Forum: Transfer Pricing for the International Practitioner, ...Matheson Law Firm
Joe Duffy, Partner in the Tax Group, and Kathryn Stapleton, Solicitor in the Tax Department, co-wrote the Ireland section for Transfer Pricing Forum: Transfer Pricing for the International Practitioner, September 2016.
Compartilho o artigo escrito em coautoria com Ramon Tomazela Santos no qual abordamos um panorama geral sobre preços de transferência no Brasil, publicado em "The Transfer Pricing Law Review - Steve Edge and Dominic Robertson (Ed.)". Confira a íntegra:
Multinationals are challenged by changing tax laws, accounting practices, valuation methods and penalties as administrations around the world clamp down on tax avoidance
Similar to Chapter C.1 - UN TP Manual: Legal Environment for Establishing TP Regimes (20)
SCRAPPING OF RETRO TAX PROVISIONS : A REVIVAL OF OVERSEAS INTEREST IN INDIADVSResearchFoundatio
Key Takeaways:
- Scrapping of Restrospective effect of Taxation
- Indirect transfer of assets not taxable before 28th May 2012
- Vodafone case analysis
- Draft notification to implement the amendment
Key Takeaways: - Analysis of section 45(4), section 9B of the Income Tax Act...DVSResearchFoundatio
Key Takeaways:
- Analysis of section 45(4), section 9B of the Income Tax Act and Rule 8AA and Rule 8AB of Income Tax Rules
- Illustrations to understand the relevant impact
- Critical Issues concerned with the provisions
Key Takeaways:
- Facts of the case
- Issues and Orders of the case
- Contention of the parties
- Observations by Honourable Supreme Court
- Conclusions
Key Takeaways:
- Facts of the case
- Issues and Orders of the case
- Contention of the parties
- Observations by Honourable Supreme Court
- Conclusions
FALLACIOUS DISREGARDING OF TRANSACTIONS THAT RESULT IN A TAX BENEFIT TO THE A...DVSResearchFoundatio
Key Takeaways:
- Facts of the case
- AO's contention
- Ruling of CIT(A) and issues for consideration of the ITAT
- Observations of ITAT
- Final Ruling
- Way Forward
ALLOWABILITY OF OUTSTANDING INTEREST CONVERTED INTO DEBENTURES AS AN EXPENSE ...DVSResearchFoundatio
Key Takeaways:
- Facts and issues of the case
- Rationale behind the section
- Ruling of lower jurisdiction authorities
- Rival submissions before the Honourable Supreme Court
- Observations and final rulings of Honourable Supreme Court
- Way Forward
Key Takeaways:
- Facts of the case
- Issues and Orders
- Contention of the parties
- Observations of Honourable Supreme Court
- Conclusion and way forward
Key Takeaways:
- Background and Overview of Legal Provision
- Facts of the Case
- Contentions of the Assessee and Revenue
- Supreme Court’s Verdict
- Key Learnings and Way Forward
Key Takeaways:
- Background and Overview of Legal Provision
- Facts of the Case
- Contentions of the Assessee and Revenue
- Supreme Court’s Verdict
- Key Learnings and Way Forward
AUTOMATIC VACATION OF STAY GRANTED BY TRIBUNALDCIT v. PEPSI FOODS LTD. [2021]...DVSResearchFoundatio
Key Takeaways:
- Background and Overview of Legal Provision
- Facts of the Case
- Contentions of the Assessee and Revenue
- Supreme Court’s Verdict
- Key Learnings and Way Forward
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
3. Legends used in the Presentation
ALP Arm’s Length Prince
APA Advance Pricing Agreements/Arrangements
APAs Advance Pricing Agreements
ATAF African Tax Administration Forum
CATA Commonwealth Association of Tax Administrators
CFC Controlled Foreign Corporation Rules
CIAT Inter-American Center of Tax Administrations
CREDAF
Cercle de Reflexion et d'Echange des Dirigeants
des Administrations Fiscales
GAAR General Anti-avoidance Rule
IOTA
Intra-European Organisation of Tax
Administrations
LVAS Low Value adding Services
MAP Mutual Agreement Procedures
MNE Multi National Enterprise
OECD
Organisation for Economic Cooperation and
Development
SGATAR
Study Group on Asian Tax Administration and
Research
SME Small and Medium Enterprise
TP Transfer Pricing
UN United Nations
6. Overview
Transfer pricing was not an issue of great concern until the late 1960s when international
commercial transactions expanded greatly in volume
With the increase in controversy regarding adjustments by tax authorities to transfer prices,
taxpayers increasingly seek practical dispute resolution mechanisms to avoid double taxation
(such as MAP, APAs and arbitration proceedings)
Domestic transfer pricing legislation worldwide shows some harmonization in basic
principles, in accordance with the arm’s length standard, though, its application is not identical
and poses complexities across jurisdictions
Chapter C.1. of UN TP Manual reviews the legal environment of TP legislation in a global context
and seeks to identify the key practical issues from the perspective of developing countries
8. Background and Key Considerations
Many countries have
introduced specific
domestic tax rules to
prevent possible tax
base erosion through
mis-pricing of
transactions between
related parties
(including
presumptive
taxation)
Another approach to
transfer pricing
income allocation is
the Global Formulary
apportionment
(though it has not
been practical yet at
the global level)
TP legislations have
to be developed in
accordance with the
need of every
country as there are
no fixed Models/
Template.
This includes analysis
of any legislation of
another country but
not limited to
Practical
Administration,
Burden of
Compliance,
Environment of
Legislation and “Why
it has worked/Not
worked in Original
Context”
Two different Approaches may be seen in domestic
legislation relating to transfer pricing
This involves allocation of income/deductions/credits
by tax authorities to prevent tax avoidance
Based on self assessment system, foreign affiliated
transaction shall be priced for tax purposes as if it
had been conducted at arm’s length, thereby requiring
the taxpayers to transact in arm’s length principle.
1 2
9. Domestic Rules
• OECD/UN Model sets out the basic condition for TP adjustments and corresponding adjustments to
prevent double taxation.
• Generally, countries apply their domestic transfer pricing rules to cross-border transactions, but some
countries opt to apply transfer pricing rules also to domestic transactions (considering the risk of
domestic tax erosion through RPT when there are different tax regimes in a jurisdiction)
• Upon introduction/ updating the domestic TP rules, time lag between initiative of the legislation and
approval by the legislative bodies should also be considered.
• With respect to the definition of AE and application of arm’s length principle, it might be beneficial to
have international consistency, but each country must design its TP legislation in a way consistent with
legal and administrative framework, treaty obligations and resources.
• Countries might also introduce safe harbour rules to reduce tax collection and enhanced certainty
10. Concept of “Associated Enterprise”
Article 9 of both the UN and OECD Models considers enterprises to be “associated” if one of the
enterprises meets the conditions of Article 9, Subparagraph 1(a) or 1(b) with respect to the other
enterprise. (Eg. Parent Subsidiary relationship)
One enterprise is said to
have control over the
other if it could
Participate directly
or indirectly
• Management
• Control
• Capital
of another enterprise
There are no specific
guidance as such on what is
control in OECD/UN models
and is at the discretion of
domestic legislation
Countries generally apply criteria
for determining control (differing
thresholds result in disputes in
certain circumstances)
Which include
• 50% Shareholding
• Even above 50% or less than 50%
shareholding
• Also elements other than shareholding, like
dependency on inputs, financial/ human
resources etc.
- For developing countries, the term control has to be analyzed carefully for effective administration of TP
legislation
- In addition, factors for identifying control should be carefully examined depending on industry sector,
geographic characteristics, product cycle, etc.
11. Other Aspects of Domestic Legislation
Coverage
• TP generally covers all cross
border transactions between
AEs
• In contrast, transactions
between domestic PE of a
foreign company and its
affiliated company located
domestically may not be
subject TP regulations owing
to less risk of income shifted
beyond borders (Eg. Japan)
• However, transactions
between local branch office
and their head quarters may
be regulated by specific
legislation, consequently
affected by Article 7 of
(OECD/UN model).
Methods and Compliances
• Types of TP methods, choice of
methods and availability of
method depends upon
domestic legislation which is
based on the administrative
guidance or other subsidiary
material instead of tax laws
• Upon design of legal
framework, ease of
administration,
documentation, penalties for
non-compliance should also be
considered.
• Forms for receiving TP
information should be
convenient to process and
respond (mandatory
disclosure of information is
the best option)
Burden of Proof
• The burden of proof for TP
litigation may be determined in
accordance with the burden of
proof rules of civil procedure
or tax litigation in general.
• In several countries the burden
of proof rests originally on the
taxpayer (Eg: Australia, Brazil,
Canada, India, South Africa and
the United States)
• Once the taxpayer discharges
this burden, then it shifts to
the tax authorities to evaluate
and prove if the controlled
prices have been determined
in accordance with the ALP or
if the information or data used
in the computation is reliable
or correct
12. Issues and Challenges in Domestic TP Regulations
The effectiveness of presumptive taxation
depends on the approach adopted by the
country concerned (i.e. Self Assessment vs
Assessment by tax authorities).
Mispricing of RPT
In an anti avoidance focused system, a penalty system
may play a more effective role than presumptive taxation
to avoid mispricing of RPT.
Issues
Use of Secret Comparables
Third party information are made available to tax
authorities subject to confidentiality, therefore during
the course of dispute taxpayer wont have access to
comparable.
In such cases disclosures of data
would provide opportunity to tax
payers to defend its position
1. Presumptive Taxation methods
2. Burden of proof
Since this involves review of various documents, gathering
information on comparable uncontrolled transaction and market
condition becomes a difficult exercise with passage of time.
Countries should keep in mind the interest of the
revenue and taxpayer (financial risks) and set a time
period during which adjustments could be made
3. Balance to be Struck between
Statute and Subsidiary Regulations
This essentially means recognizing the arm’s length
principle and the basic principles applicable to TP
through the primary legislation
Objective statutory provisions tend to provide
greater certainty because they are binding on
taxpayers and the tax administration.
14. Safe Harbour Rules
•They are a form of
simplified TP rules
that applies to
specific
transactions which
approximates
outcomes under
arm’s length
principle to avoid
double taxation
What are safe
harbour rules?
•An attractive option for
developing countries
with limited access to
resources and data.
•A relief to SME from
compliance burden and
also to MNE from small
or risky transactions
Significance
•Information sourced from
tax returns of tax payers can
support the design of safe
harbour rules.
•Upon design of Safe harbour,
flexibility in opt in and opt
out should be considered.
•Safe Harbour rules should
consider at least 3 concepts
namely: Category of eligible
transaction, TP methods and
Corresponding range or
results to be used.
Considerations
•May result in
unnecessary revenue
forgone and may
encourage tax
planning and
avoidance.
•Could discourage
investments in high
margin activity
compared to low
margin activity
Issues
15. Safe Harbour Practical issues
OECD has proposed fixed margin (5% mark up on cost) in dealing with Low-value added services (LVAS)
• LVAS are services of a supportive nature, not forming part of the core business of the enterprise, and that does
not use any intangibles or assume significant risks
These fixed margins could be perceived as being too high.
• The other state may not accept such fixed margin as arm’s length, thereby denying to make corresponding
adjustment resulting in double taxation.
For all other transactions exceeding the safe harbour limits, taxpayers could be required to comply with all
transfer pricing rules and the burden of proof remains with the taxpayer
The safe harbour regime may include provisions and regulations of the procedure for applying for MAP.
• As an option for the safe harbour, tax authorities may also allow taxpayers to apply for APAs to comply with the
transfer pricing regime.
16. Downward Adjustment
• Generally TP rules may result in increase in the amount of tax payable.
• However, there could be a need for downward adjustments resulting from unintentional over reporting of
taxable income.
• Tax authorities would not generally consider this at their own discretion.
• Hence, developing countries should consider this when designing domestic legal environment for TP
Republic of Korea South Africa
It has clarified that a downward
adjustment should be applied in
cases where a tax adjustment is
made under a transfer pricing
method using multiple year data.
TP adjustments are limited to
situations where the taxpayer will
always make adjustments that
favour tax administrations
Examples
17. Advance Pricing Agreements/Arrangements
• Consideration must be given to the inclusion of an APA programme at different stages of the design of
a legal framework for transfer pricing.
• As APAs are for serving the taxpayers, adequate capacities must be installed to respond to tax payers
demand.
• In addition, tax payers would also be required to pay fees when filing APA to cover cost of processing
• Matching operational capability to offer APAs with operational capability of the TP regime is thus an
important factor in the design of the domestic legal environment.
18. Interaction of Transfer Pricing Provisions with Other
Cross-border Rules
In designing a domestic tax system, countries should consider interaction of TP rules with CFC, Thin
Capitalisation and GAAR
•CFC rules are
designed to prevent
tax being deferred or
avoided by tax payers
using foreign
corporation
What are CFC Rules
•Without CFC rules, income would
be left at low tax jurisdiction and
would not be taxed domestically
•CFC rules treat this income as if it
had been repatriated and taxes it.
•TP rules should be priority and CFC
rules should apply after application
of arm’s length principle.
Practical importance
•Thin Capitalization rules prevent
excessive deduction on account of
interest payments
•Abusive non-arm’s length
transaction may come within the
scope of GAAR. (However,
detailed TP legislation is preferred
over GAAR)
Existence of certain
provisions:
20. Gathering Information
Countries should keep abreast of developments, exchange peer experiences and keep their transfer pricing
regimes updated
• To keep up to date with developments in international TP
Regional coordination through existing intergovernmental agencies such as
CREDAF, IOTA, CIAT, ATAF, etc.
• These organisations can provide capacity development assistance and also help resolve issues
Engagement with institutional stakeholders such as the with United
Nations, OECD, World Bank, IMF
• Like-minded tax administrations should come together to share experiences and tax information.
• By acting within an organized group, tax administrations can share training expenses
Create a clearing house for information and capacity development with
like-minded countries
• A knowledge sharing platform with other tax authorities
• International secondments to gain more experience at the United Nations, the OECD or in another
tax administration should be considered
• A greater pool of TP experts to assist revenue authorities and taxpayers
Participate in the South-South dialogue for capacity development
21. Examples of Measures to Update Transfer Pricing
Regimes
Advance tax rulings
• It helps to create an active tax dialogue
between taxpayer and tax
administration.
• It stimulates greater cooperation to the
extent both parties fix an understanding
to pay or not to pay certain taxes
Establish an international consultancy body
• An independent advisory group could
• suggest updates,
• point out controversial issues in the
country’s legislation,
• suggest action in certain transfer
pricing areas, and
• even audit the country’s tax
legislation for improvement.