The TP melting pot
First published in Global Banking and Finance Review, 27 May 2014
Transfer pricing application differs widely across East and West, causing uncertainty around what the future will hold for multinationals. Practical steps to retain flexibility and ensure efficient tax administration for both taxpayers and revenue authorities were discussed at the Taxand global conference 2014 hosted by Taxand China in Shanghai.
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The disparity between interpretation and enforcement of transfer pricing standards across East and West remains a significant source of multi-jurisdictional disputes, as global bodies and individual countries adapt and evolve the rules. This dichotomy creates an uncertain environment as well as a compliance burden for multinationals navigating the melting pot of transfer pricing standards across the world.