So much is happening in the transfer pricing world, and most days I only get to share the information via Twitter rather than writing an article about it. Therefore, I have decided to give a weekly roundup on transfer pricing worthy news, this will provide you with a quick source of what is going on in the transfer pricing world and hopefully start some more conversations. So here goes the first one.
The HMRC is asking for a consultation on whether a secondary adjustment rule should be introduced into the UK’s transfer pricing legislation and how that rule would be designed.
Google Paris offices raided in £1.2 billion tax probe (The Telegraph)
This is maybe not purely transfer pricing related but as per the article “the investigation is aimed at finding out whether Google Ireland Ltd. is permanently established in France and if, by not declaring some of its activity on French soil, it has failed to meet its fiscal obligations, in particular with regard to corporation tax and value.” This falls right into the BEPS environment and we are likely to see more of this in the near future.
Scores of South African corporate companies will soon be subject to increased scrutiny and cross-border tax reporting regulations as the country aligns its tax regulations with global standards. These latest requirements are contained in two draft notes from the SA Revenue Service (SARS).