Transfer Pricing 2019 - Annual Review by the Financier Worldwide Magazine
“Globalisation and the close integration of world economies have made the transfer pricing landscape quite complex for any multinational enterprise (MNE) engaged in cross-border transactions. Following the implementation of the Organisation for Economic Co-operation and Development’s (OECD’s) Base Erosion and Profit Shifting (BEPS) initiative, there has been an increased focus on transfer pricing related matters as the BEPS programme tends to match transfer pricing outcomes with value creation. In line with the BEPS initiative, the Inland Revenue Authority of Singapore (IRAS) published revised transfer pricing rules in 2018 to reinforce the importance of determining the ‘correct transfer price’ for Singapore taxpayers.”
With the 2019 edition of Financier Worldwide Transfer Pricing Annual Review just released, we are delighted to share that six Mazars experts shared their insights in the review.
Financier Worldwide is a leading publisher specialised in corporate finance and board-level business issues, providing news and analysis on this dynamic global market. Its publications are widely recognised as a valued source of intelligence to the corporate, investment and advisory community.
Six experts from across our partnership commented on the current Transfer Pricing challenges and opportunities for companies in their respective countries.
Anthony Tam compared the situations in Hong-Kong and China, especially companies’ knowledge and familiarity on transfer pricing policies and regulation. He also shared advice on the best way for companies to review and amend their transfer pricing policies and structures moving forward.
In Indonesia, the impact of local regulation remains low. According to Julia Yang, Tax and Transfer Pricing Partner, this is due to the importance for companies to be globally compliant which doesn’t leave much room for localisation.
Recent regulation in Nigeria has encouraged companies to pay more attention to transfer pricing issues. Uhabia Ojike, observed that authorities have taken a strict stance on the matter and have handed fines to non-compliant firms, setting the scene for the months to come and driving companies to take action to be compliant sooner rather than later.
Liviu-Mihai Gheorghiu explained why there is an increase in transfer pricing disputes between companies and public authorities and the role and influence of the OECD on the local transfer pricing regulation in Romania.
In Russia, authorities have been placing more and more emphasis on the transfer pricing issue. Alexei Shvyndenkovshare details on why it is becoming an increasingly hot topic and how to best calculate the transfer prices for tangible and intangible assets.
Gene Kwee, Head of Tax in Singapore, highlighted the importance of setting consistent transfer pricing frameworks and outlined the main challenges and opportunities for companies in Singapore and in the wider region, in particular in Indonesia, Malaysia, Vietnam and Thailand.
Please click here to view the full publication: https://www.financierworldwide.com/annual-review-transfer-pricing-2019#.Xbo_7C2p3dd
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