Transfer pricing continues to be a topical and challenging issue for taxpayers and revenue authorities in Australia and around the world.
The OECD’s base erosion and profit shifting (BEPS) project, and Australia’s implementation of many of its recommendations, highlight the importance of transfer pricing to the compliance and governance frameworks of affected taxpayers.
The Australian Taxation Office has released Practical Compliance Guideline PCG 2017/2 Simplified transfer pricing record keeping options in an attempt to help reduce the compliance burden on business.
Outlining transaction types or activities identified as ‘low risk’ for international related party dealings, this PCG specifies the criteria for taxpayers to self-assess their eligibility to use one or more of eight simplification options.
In September, The Tax Institute will stage the ‘Transfer Pricing Webinar Series’, off the back of our sold-out National Transfer Pricing Conference in Sydney earlier in the year.
The series kicks off with the session from Ashish Dave (Duff & Phelps) on ‘The Basics of Transfer Pricing Documentation’, followed by Lauren Whelan (HLB Mann Judd) on the ‘Simplified Transfer Pricing Documentation Rules’ in session two.