Parthasarathi Shome, minister of state to the Indian finance minister, has said there are instances where retrospective approaches, by tax authorities, are inappropriate. He was speaking at an international tax conference at the Confederation of Swedish Enterprise last week.
The Irish Revenue Commissioners are in the market for more corporate databases through which they can evaluate companies’ transfer pricing more effectively.
After the UK’s HM Revenue & Customs (HMRC) received such negative press from the Public Accounts Committee (PAC) for its approach to transfer pricing, the tax authority has released a briefing, intended to clarify its practice. But, when it is public opinion which seems to matter most in the PAC debate, it is unlikely civil society will read the statement, say advisers.
