CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Tax Agencies To Discuss TP Proactively With Willing MNEs

Tax Agencies To Discuss TP Proactively With Willing MNEs

by Ulrika Lomas, Tax-News.com, Brussels

07 February 2018


The OECD has recently launched a new program – the International Compliance Assurance Programme – being spearhead by the Forum on Tax Administration that is aimed at providing assurance to multinationals with regards to their transfer pricing (TP) affairs.

The pilot, which groups can join on a voluntary basis, will use country-by-country reports and other information to facilitate open and cooperative multilateral engagements between multinationals and tax administrations, with a view to providing early tax certainty and assurance for multinationals, the OECD said.

A pilot for ICAP, which includes eight FTA member tax administrations (Australia, Canada, Italy, Japan, the Netherlands, Spain, the United Kingdom, and the United States), was launched at the end of January.

"By co-ordinating conversations between an MNE group and tax administrations in several jurisdictions, the program should also ensure a more effective use of transfer pricing information (including that contained in a group's CbC report, master file, and local file), a more efficient use of resources both for the MNE group and for tax administrations and, in the longer term, fewer cases entering into mutual agreement proceedings (MAP). ICAP has been developed under the framework of the OECD Forum on Tax Administration (FTA) Large Business and International Programme, sponsored by the Canada Revenue Agency (CRA)."

A multilateral assessment of specific international tax risks posed by each MNE group in the pilot will commence during the first half of 2018 and is expected to be completed within a target timeframe of 12 months.

The OECD has also released a new handbook, which provides more detail on ICAP and the procedure for the pilot.

TAGS: tax | Netherlands | Australia | United Kingdom | multinationals | transfer pricing | Canada | Italy | Spain | United States | Japan | Compliance | Tax | BEPS

To see today's news, click here.

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 











Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »