Morton has also spoken at length with TPWeek about the structure and organisation of Reed Elsevier’s tax team, the day-to-day transfer pricing issues it faces and the methods it uses to overcome these challenges.
The interview reveals the centralised nature of Reed Elsevier’s tax department and discloses the company’s preferred transfer pricing methodologies.
“We have a single central team in order to manage tax as a centre of excellence. We are a dual parented enterprise so we have a Dutch parent and a UK parent. We have members of the tax team in the UK and the Netherlands, and a substantial team in the US as well as team members in other locations but the centre of our transfer pricing function is in London,” Morton said.
Morton also gives his opinion on contentious transfer pricing issues such as the debate over whether the UK is becoming a tax haven and the obstacles facing tax reform in the US.
“I was at the OECD G20 meeting in Tokyo a couple of months ago and there was quite a fair bit of noise from various participants about the UK having a very attractive tax regime. People focus on the patent box and also on the 20% corporate tax rate.”
The full interview will be available on TPWeek.
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Reed Elsevier’s Paul Morton discusses the most debated transfer pricing issues
