Global Transfer Pricing: Principles and Practice, 4th Edition

The previous edition was published shortly after the end of the OECD BEPS recommendation phase had finished and we are now well into the implementation phase, with much follow-up work having been done on the original Actions. Therefore this new edition will include:-

• an update on implementation of BEPS recommendations, including artificial avoidance of permanent establishment status and prevention of treaty abuse
• implementation of transfer pricing documentation and country-by-country reporting
• multilateral instrument implementation. In particular:
• Chapter 5 'Types of Transaction: Financing' will be updated to include commentary on the OECD discussion draft on transfer pricing aspects of financial transactions, including treasury function, guarantee fees and captive insurance
• Chapter 7 will be expanded to cover new guidance on profit split and the recent trend towards profit split in HMRC enquiries
• The 'UK' chapter will include new content on interest restriction rules and transfer pricing, penalties for non-compliance, rules governing the conduct of transfer pricing audits and also Brexit considerations
• A new chapter will be added on the 'Allocation of profits to branches' to cover Articles 7 and 9 and work with Financial Services teams on Financial Services branches.

Legislation and case law:

• OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (2017)
• Individual OECD BEPS Reports detailing revised guidance on the BEPS Action Plan, including the OECD/G20 Inclusive Framework on BEPS: Progress Report (July 2018)