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  • Each year Mexican taxpayers typically review their intercompany transactions before the end of the fiscal year and later prepare the transfer pricing documentation after the fiscal year has ended. Marta Milewska and Fred Barrett of PwC explain how it is done.
  • Over the last couple of months, Chilean taxpayers have been subject to new transfer pricing compliance requirements, which have significantly changed their perception of the proper way to handle intercompany transactions. Roberto Carlos Rivas, Carolina Alexandres and Gabriel Bernal of PwC Chile explain how taxpayers can navigate through the changes.
  • In 2011, Russia enacted revised transfer pricing (TP) rules. However, over the last 18 months the Russian Tax Authority (RTA) has issued various letters clarifying its views on the new TP rules. Evgenia Veter, Steve Cawdron, Anuar Mukanov and Filip Vukovic of Ernst & Young have interpreted these clarifications and their potential impact for businesses as they attempt to comply with the revised legislation.
  • Susann van der Ham and Carsten Hüning of PwC Germany discuss recent developments in tax audits practice towards transfer pricing risk assessments strategies.
  • Transfer pricing regulations and documentation requirements have been in effect for almost nine years, since the end of 2004, and the Taiwanese tax authorities have accumulated more and more experience and knowledge. Paulson Tseng of PwC gives an overview of the Taiwanese tax authorities’ comments on how taxpayers should prepare transfer pricing reports and discusses recent tax auditing practice.
  • On February 12 2013, the OECD issued its report on Base Erosion and Profit Shifting (BEPS). The report is the OECD’s first substantive step with respect to the review and analysis of base erosion and profit shifting. An important part of the report relates to transfer pricing. Ronald van den Brekel of Ernst & Young provides a summary of the BEPS report, in particular in relation to transfer pricing and the direction the OECD may take.
  • The Brazilian government has cut its tax on foreign investments in fixed income assets to 0% to combat a reduction in international liquidity.
  • Tax authorities within the EU will have to comply with much more extensive rules on the automatic exchange of tax information, if member states adopt a European Commission proposal unveiled today.
  • HMRC is consulting on proposals to reform the taxation of derivatives to strengthen anti-avoidance measures. However some suggestions may increase compliance uncertainty for taxpayers.
  • The Swiss lower house of Parliament has voted to increase the VAT rate on a temporary basis. But it may signal a trend of permanent VAT rises.