ITR Search | International Tax Review

Fine-tuning the legislation for greater compliance

Singapore has been increasing its focus on transfer pricing, explain Geoffrey K Soh, Felicia Chia and Jingyi Lee of KPMG, with yearly revisions of the TP guidelines as well as the adoption of country-by-country reporting requirements. Recently, there has been a greater-than-ever push to ensure that taxpayers’ profitability is consistent with the economic activities conducted and value generated.

August 08 2018

Transparency is trending

Over the past year, the Australian transfer pricing (TP) landscape has continued to evolve. There is new legislation and the Australian Taxation Office (ATO) is continuing to prioritise TP as a key area, write Tim Keeling, Jay Mankad and Jennifer Goldkopf of KPMG.

August 08 2018

Indonesia’s rapid transfer pricing evolution

Indonesia completed the last step in the introduction of new transfer pricing regulations late last year, report Iwan Hoo, Aaron Brunier and Fachrur Rifqi Nugroho of KPMG. While the regulations covering the master file, local file and country-by-country reporting were issued in 2016, the implementing regulations for CbCR were not completed until late December 2017.

August 08 2018

Recent tax reform to align with the OECD BEPS Action Plan

The National Assembly of Korea approved the 2017 Tax Reform Bill on December 5 2017, write Gil Won Kang, Sang Hoon Kim and Seung-Mok Baek of KPMG.

August 08 2018

Stepping in line with global trends

To align with international tax trends, Taiwan’s Ministry of Finance (MoF) announced amendments on November 13 2017 to existing transfer pricing assessment regulations, write Sherry Chang, Karl Chan and Anita Lin of KPMG.

August 08 2018

The reality of Decree 20

Vietnam’s regulatory changes have required an increasing number of taxpayers having to be aware of the transfer pricing rules, explain Hoang Thuy Duong, Tran Thi Thuy Ha and Sandra Liston of KPMG. However, inconsistencies in the interpretation has led to substantial efforts by the tax authority to clarify the rules.

August 08 2018

NZ BEPS monster on the horizon

The New Zealand transfer pricing landscape has changed rapidly over the past year, explain Kim Jarrett, Kyle Finnerty and Nadia Fediaeva of KPMG. With new BEPS legislation enacted, increased tax enforcement efforts, the Inland Revenue restructuring and a new government promising an increase in spending on tax enforcement, what more could happen in a year?

August 08 2018

Still at a standstill?

Transfer pricing is on the radar again in the Philippines, reports Maria Carmela Peralta of KPMG. It’s too early to tell whether the lengthy discussions taking place will bear fruit and the Philippines will have something other to show than its 2013 TP regulations, which the Philippine Bureau of Internal Revenue (BIR) is perceived to have overlooked.

August 08 2018

TP in China: SAT tapping into the tax big data paradise

As explained by Cheng Chi, Rafael Triginelli Miraglia and Choon Beng Teoh of KPMG, transfer pricing continues to be one of the Chinese State Administration of Taxation’s key areas of focus, as new policies and methodologies are being examined post-BEPS to strengthen the SAT’s monitoring of multinational enterprises’ TP

August 08 2018

Head start for new developments

Transfer pricing rules were introduced in Sri Lanka in 2006 and became enforceable from 2008, writes Shamila Jayasekara of KPMG. The revenue authorities did not administratively enforce the rules, giving time for taxpayers to conform to requirements.

August 08 2018

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