Updated Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations
The OECD has released the 2017 edition of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. The 2017 Guidelines incorporate the revisions made in 2016 to reflect the clarifications and revisions agreed in the 2015 BEPS Reports on Actions 8-10 Aligning Transfer pricing Outcomes with Value Creation and on Action 13 Transfer Pricing Documentation and Country-by-Country Reporting. It also includes the revised guidance on safe harbours approved in 2013 which recognises that properly designed safe harbours can help to relieve some compliance burdens and provide taxpayers with greater certainty. Finally, this edition also contains consistency changes that were made to the rest of the OECD Transfer Pricing Guidelines.