India’s much awaited 2014/2015 Union Budget was presented by the Finance Minister, Arun Jaitely, in Parliament last week. Here are the transfer pricing highlights:
Sunday, July 06, 2014
The Inland Revenue Board of Malaysia has officially added a question to the 2014 Income Tax Return related to transfer pricing documentation. Taxpayers must answer “yes” or “no” as to whether they have prepared transfer pricing documentation for the year of assessment 2014.
Malaysian taxpayers with intercompany transactions must therefore ensure transfer…Read More
Tuesday, June 24, 2014
During a recent tax conference in Beijing, Chinese officials alluded to potentially incorporating concepts from the international base erosion and profit shifting plan into future domestic tax rules, but only while not giving up its right to negotiate bilateral agreements or develop its own tax policies.
Liao Tizhong, Director General of China’s…Read More
Friday, June 06, 2014
The Vietnamese Ministry of Finance recently released a revised form, Form 03-7/TNDN (Form 3), replacing the current Form GCN/01/QLT with respect to the declaration of related party transactions.
The new form is applicable from the 2014 tax year and must be filed with the corporate income tax return within 90 days from the…Read More
Wednesday, April 30, 2014
April 2014 saw the release of two draft taxation rulings by the Australian Tax Office (ATO) on transfer pricing matters.
TR2014/D3 allows for the replacement of actual commercial or financial arrangements between related parties with arm’s length commercial or financial arrangements that are comparable to the substance of the arrangements.
TR2014/D4 relates…Read More