The OECD has published new transfer pricing country profiles for Costa Rica, Greece, Republic of Korea, Panama, Seychelles, South Africa, and Turkey. The OECD has also updated the information contained in Singapore’s profile.
The transfer pricing country profiles include information on transfer pricing methods, the comparability analysis, intangible property, intra-group services, cost contribution agreements, transfer pricing documentation, administrative approaches to avoiding and resolving disputes, safe harbours, and other implementation measures as well as to what extent the specific national rules follow the OECD Transfer Pricing Guidelines.
The information was provided by countries themselves in response to a questionnaire so as to achieve the highest degree of accuracy, the OECD noted.
The transfer pricing country profiles reflect the revisions to the Transfer Pricing Guidelines resulting from the 2015 Reports on base erosion and profit shifting (BEPS) Actions 8-10, on aligning transfer pricing outcomes with value creation, and BEPS Action 13, on transfer pricing documentation and country-by-country reporting. Also included are changes incorporating the revised guidance on safe harbors approved in 2013 and consistency changes made to the rest of the OECD Transfer Pricing Guidelines.
The country profiles are now available for 52 countries.