SINGAPORE LEGISLATION AND BEPS PROJECT Singapore has committed to the global implementation of the BEPS Project proposed by the OECD. Particularly, a lot of attention has been given to Actions 8-10, pertaining Transfer Pricing (TP). More precisely, the cornerstone for TP law in Singapore comprises the Income Tax Act. The Income Tax Rules of 2018 … Read more
BEPS AND MALAYSIA TRANSFER PRICING RULES The widely known Base Erosion and Profit Swifting (BEPS) OECD initiative has drastically affected the Transfer Pricing (TP) landscape, globally, as it constitutes a crucial denominator for corporate taxation. Malaysia, being an OECD member, shows an admirable adherence to the said rules. Therefore, Malaysian TP legislation merits a brief … Read more
Dealing with cases which have potential Transfer Pricing (TP) implications in Panama, requires a high level of expertise. Given that Panama is not an OECD member; an extended experience is necessary where the OECD practices are not applicable. The TP legal framework of Panama constitutes a hybrid since the OECD TP Guidelines are not directly … Read more
Since Peru is aspiring to join the OECD until 2021, it has been trying to follow OECD directives on Transfer Pricing very closely. All this boils down to the conclusion that scrutiny for TP compliance in Peru is gaining ground continuously. Expertise in the realm is absolutely indispensable. Legal overview Peru has its own TP … Read more
If compliance with Transfer Pricing (TP) rules is globally among the hottest themes in the realm of Tax Law, one thing is for sure: Transfer Pricing in Slovakia is even further. It could not be different, since the Slovak TP legislation applies the obligation to prepare the documentation not only to foreign related parties but … Read more
China’s colossal economy as well as its predominant role within the global market, result in the emergence of an increasing interest towards China Transfer Pricing (TP) Law matters. Since China is not a member of the OECD, any TP endeavor goes far beyond the classic TP practices, though. More precisely, chinese legal framework comprises a … Read more
Liberia is a typical example amongst the developing African countries making noticeable effort to expand their tax base to the size it should appropriately be, therefore collecting more taxes and adapt in the fast-changing local and global business environment. To that end, Transfer Pricing Regulation (TPR) was introduced by the Liberia Revenue Authority (LRA) with … Read more
The rules on transfer pricing were introduced in Russia in 2000, were substantially amended in 2011 and came into force on January 1, 2012. The rules did not refer directly to the OECD Transfer Pricing Guidelines even though they mainly follow these principles. The previous guidelines on transfer pricing had been invoked since 1999, but … Read more
When states attain membership of the European Union (EU), the governments are in charge of enacting and implementing their local direct taxation policy. The tax framework of the member-states shall not contravene or interfere the laid down policies and directives of the EU institutions; therefore, the sovereignty of member states is extremely safeguarded. Although the … Read more
On the 6th of November 2017 the European Commission will discuss the implementation of Common Consolidated Corporate Tax Base (CCCTB) in an effort to create a standard set of rules which will govern how European companies will be taxed. Fundamentally, CCCTB will provide a framework for the calculation of the taxable profits. However, this will … Read more