The debate on the future of the arm’s-length standard (ALS), at International Tax Review's Global Transfer Pricing Forum in Amsterdam today, concluded that, while interesting arguments exist for an alternative method, the ALS is the only viable option because of its close connection to what happens in the market.
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The ruling underscores that tax authorities must provide ‘detailed, well-supported, and logically sound justifications’ when determining reference prices in tax assessments, one expert told ITR
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