The OECD has released for comment a White Paper on Transfer Pricing Documentation. The OECD said the paper is intended to initiate an international discussion of ways in which compliance with transfer pricing documentation requirements can be made simpler and more straight-forward, while at the same time providing tax authorities with more focused and useful information for consideration in connection with transfer pricing risk assessment and transfer pricing audits.
The OECD has also released for comment Revised Discussion Draft on Transfer Pricing Aspects of Intangibles. The OECD notes many changes have been made from the original Discussion Draft issued in June 2012. Changes contained in the Revised Discussion Draft include, among other things, explanatory changes to the definition of intangibles, and the addition of a new section addressing features of the local market, location savings, assembled workforce and corporate synergies.
COMMENTS on both documents are due by 1 October 2013. Further, the OECD said it intends to hold further public consultations on the above documents and other related matters on 12-13 November 2013 at the OECD Conference Centre in Paris, France.
Source: OECD media releases (1 and 2), 30 July 2013
[LTN 147, 1/8/13]