One of the main concerns voiced on the first day of the Global TP Forum 2014 in Singapore was the definition of key people functions in relation to BEPS and the scope for interpretation.
The South African Revenue Service (SARS) has announced it is considering introducing an advance pricing agreement (APA) system in the hope of creating a quicker, more effective transfer pricing audit process.
Singapore risks losing its reputation as the best place in Asia to set up regional headquarters because of planned changes to tax rules and competition from Hong Kong and Malaysia. However, industry professionals in Singapore have been quick to quash these claims.
The European Commission’s (EC) investigations into deals made with Starbucks, Fiat and Apple have left the tax world fearing a witch hunt, which could cause perfectly legitimate transfer pricing agreements to suffer.
Frank Schoeneborn, head of operational transfer pricing at Merck Group, discusses the power of public opinion and the impact it is having on transfer pricing in an interview with TPWeek.
