The accepted standard for transfer pricing has always been the transfer pricing guidelines issued by the OECD. However, that may be changing as China and other developing countries set out their stall in the new UN practical manual on transfer pricing. Glenn DeSouza of Baker & McKenzie in Shanghai analyses what this will mean for multinational businesses.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year