The BRICS countries' (Brazil, Russia, India, China and South Africa) tax authorities have agreed to share information to strengthen their tax systems, including India helping South Africa to implement an advance pricing (APA) regime.
GE India is fighting the authorities in the Income Tax Appellate Tribunal (ITAT) over the characterisation of its transactions. The case is bringing the use of research and development (R&D) into question.
The Brazilian government has published guidance on Law 12715/12, to implement changes in the transfer pricing regulations in a bid to reduce the backlog of cases.
The State Administration for Taxation (SAT) is intending to incorporate the China chapter, an appendix in the UN’s transfer pricing manual, into tax circulars in an attempt to increase the amount of corporate tax it collects.
Australian Customs has proposed changes to the administration of its customs transfer pricing, which could make importing into Australia more cumbersome.
