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Weekly transfer pricing roundup – 17 July 2017
- 17 July 2018
- Corporate Tax
- Marcus
Important:
This article is based on tax law for the tax year ending 28 February 2018.
Author: Marcus
There was a lot of movement in transfer pricing and BEPS around Africa this week. Cameroon signed the relevant MLIs to address BEPS, becoming the 70th member to sign the MLIs. The Ghana Revenue Authority (GRA) held a three day conference on transfer pricing abuse. The conference was aimed at raising awareness on the importance of the role of tax administrations in countering illicit activities. Interestingly, about 60 participants from international organisations and 16 African countries participated in the conference. The GRA also announced at this conference that it has began implementing measures to combat illicit financial flows, including BEPS measures. The Zimbabwean Revenue Authority announced that it is ahead of its collection target with transfer pricing partly contributing to this.
Furthermore, we finally have the updated version of the OECD Guidelines. The cost of downloading the updated version is about USD100 but you can read it online for free. For my readers from Azerbaijan, Azerbaijan’s Ministry of Taxes purchases Thomson Reuters tax solutions aimed at implementing tax control in the sphere of transfer pricing. As you know different tax authorities prefer different solutions, so just make sure you are aware of the local preferences, even if other’s are theoretically acceptable.
Please click here to read more.
This article first appeared on transferpricing.co.za.