Dave Hartnett, HMRC's permanent secretary for tax, told the Tax Planning Strategies meeting in Paris, organised by the IBA, the ABA, IFA and the OECD, that the survey will offer new international operational guidelines for tax administrations and taxpayers.
Hartnett hopes the survey will result in “day-to-day practical guidance” for everyone involved in transfer pricing.
“The survey will not step on the work of the OECD’s Working Party 6 [transfer pricing] but will only enhance the understanding of transfer pricing,” he said.
“We want taxpayers to share more information with the authorities and we want administrations to rely more on economists to decide whether a transfer pricing case is worth following up.
“I also hope we will see a greater reliance on integrated documentation systems. We have found [in the UK] that this has been very effective in rooting out the key transfer pricing issues,” said Hartnett.
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