An amendment to the Income Tax Law in India means taxpayers can use any method to justify their transfer pricing arrangements, which demonstrates a significant relaxation in the authorities’ approach.
Taxpayers in Malaysia must ensure their transfer pricing is backed-up by contemporaneous documentation after the country retrospectively amended its transfer pricing regulations.
The level of tax litigation is getting higher, particularly in Asia, as multinational companies wrestle for ground with the revenue-hungry tax authorities.
Transfer pricing was a recurring concern for taxpayers attending the International Tax Review Asia Tax Forum in Singapore last week, emerging from every panel.
