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OECD Approves Changes To Transfer Pricing Guidelines

by Mike Godfrey, Tax-News.com, Washington

27 May 2013


The Organization for Economic Cooperation and Development (OECD) is to release new guidance on safe harbors after its Council approved revisions to Transfer Pricing Guidelines.

The OECD says that the previous guidance was somewhat negative in tone and did not accurately reflect the practices of member countries, a number of which have adopted transfer pricing safe harbor provisions. Concerns were also raised that advice was lacking on the possibility of a bilateral agreement establishing a safe harbor.

The Council is proposing that the TPG now recognize that properly designed safe harbors can help to relieve some compliance burdens and provide taxpayers with greater certainty. The amended document will encourage the use of bilateral or multilateral safe harbors under appropriate circumstances, and provide sample memoranda of understanding for any negotiations.

TAGS: compliance | Transfer Pricing | tax | business | Organisation for Economic Co-operation and Development (OECD) | enforcement | transfer pricing | tax reform | standards | regulation

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