An amendment to the Income Tax Law in India means taxpayers can use any method to justify their transfer pricing arrangements, which demonstrates a significant relaxation in the authorities’ approach.
Taxpayers in Malaysia must ensure their transfer pricing is backed-up by contemporaneous documentation after the country retrospectively amended its transfer pricing regulations.
The level of tax litigation is getting higher, particularly in Asia, as multinational companies wrestle for ground with the revenue-hungry tax authorities.
Oupa Magashula, the commissioner for the South African Revenue Service (SARS) has said they are discovering an increasing number of tax avoidance schemes through cross-border structuring, particularly by the construction industry.
