Taxpayers in India will be rejoicing about the new transfer pricing measures introduced in the budget today by Finance Minister, Arun Jaitley, which include being able to apply the inter-quartile range to arm’s-length pricing and the use of multiple-year data for the selection of comparable prices.
Three top-level officials in the US Internal Revenue Service’s (IRS) LB&I department have resigned in the space of one week, leading tax professionals to question whether the moves are a response to some kind of internal restructuring.
Jean-Claude Juncker is the new – and controversial – President of the European Commission. Having previously stood as the Prime Minister of Luxembourg and also the Finance Minister for 20 years, until 2009, Juncker facilitated a tax system that has become synonymous with tax avoidance in Europe.
The High Court of Gujarat in India, has upheld the use of price quotations as comparable uncontrolled prices (CUP) if the quotations are “reliable and authentic” in the case of Adani Wilmer, an edible oil producer.
Canadian uranium mining company, Cameco, has discussed its transfer pricing assessments with the Canada Revenue Agency (CRA) and has made assumptions about its upcoming trial in the Tax Court.
Despite some positive developments in the transfer pricing dispute resolution scene in Indonesia, taxpayers are still struggling with litigation and looking for alternatives.
