about transfer pricing
The OECD Transfer Pricing Guidelines for Multinational Enterprises and
Tax Administrations set out the consensus on how the arm's length test
should be applied. They are broadly accepted by all OECD member
countries, and many others.
The OECD Commentary on the Model Tax Convention sets out the equivalent
consensus on the application of double tax treaties.
Both documents are the foundations for any transfer pricing work, and
can be bought here
The OECD's transfer pricing homepage is here.
This has many
documents for download, including the discussion draft regarding the
proposed changes to the calculation of the profits of a branch (PE).
IR's new transfer pricing webpage, containing (among other things)
copies of their draft guidance notes, is here.
The IR's International tax Handbook is here.
The IR's International manual (written for use by Inspectors of Tax),
which includes guidance on the application of the UK transfer pricing
rules, is here.
The UK legislation on transfer pricing prior to 1 April 2004 is here.
The discussion draft on the proposed new legislation, which will apply
from 1 April 2004, is here.
(Click on the document called CT
Reform: The Next Steps: IR Technical Note (PDF 1,158K)).
IR Tax Bulletins providing guidance (with which, incidentally, TPSL
does not always agree) on:
- their transfer pricing record-keeping requirements here.
- how penalties apply to transfer pricing in the UK here.
- their new procedures to make transfer pricing
enforcement more efficient: here.
- intra-group payments of interest here
(Note: some of this
is now obsolescent.)
Statement of practice on Advance Pricing Agreements (APAs) here.
- the EU Arbitration Convention here.
- transfer pricing consequences of share option schemes
Code of practice 10 ("COP10"), under which rulings may be available on
some transactions here.
Copies of all the UK's Double Tax Treaties are here
and other IR information on the
Treaties is here.
Copy of the ECJ's judgement in the Lankhorst anti-discrimination case,
which is the primary catalyst for the new UK transfer pricing rules: here.
Copy of the IRS's proposals for new rules on treatment of intra-group
The 'small print'
comments on this page and elsewhere on this website are of a
general nature. It is not practicable in a general review such as
to consider every convolution of the UK transfer pricing rules or of
any other tax law that may be relevant. Moreover, these pages
naturally do not take into account the specific facts relating to any
particular taxpayer. Therefore, although the guidance in this
should give a good indication of the likely position under the transfer
pricing rules, taxpayers should obtain professional advice to verify
the position, or carry out their own analysis.
TPS nor its affiliates
make any representation regarding the
completeness or accuracy thereof and they accept no responsibility for
any loss or damage incurred as a result of any user acting or
refraining from acting upon anything contained on these pages or upon
its omission therefrom.