Transfer pricing enforcement activities are expected to increase throughout the world as countries endeavor to handle the aftermath of the COVID-19 pandemic while continuing to adopt the G20/OECD's base erosion and profit shifting (BEPS) final recommendations, and multinational enterprises (MNEs) revisit their existing structures and transfer pricing policies in light of the evolving tax climate.
Globally, tax authorities are dedicating increased resources to transfer pricing examinations of cross-border transactions, which can lead to double taxation for MNEs. In this enforcement environment, managing transfer pricing risks proactively continues to be one of the focus areas for MNEs that engage in cross-border intercompany transactions.
Many MNEs manage their transfer pricing in a proactive manner through advance pricing agreements (APAs), where APAs often helped them resolve complex issues in a practical manner, giving tax transfer pricing certainty for multiple years at a time. In this current environment, MNEs likely will have increased interest, including those that have not previously considered an APA as a component of their transfer pricing risk management strategy. Deloitte Global has developed its high quality e-learning modules to help users develop their knowledge and application of the basic principles and concepts of IFRS and IAS Standards. Our e-learning on IFRS has been a leading educational and training resource on IFRS since it was initially released in 2004, with a range of corporate, educational and professional organizations using the content as their primary tool for IFRS education.
For further detail read the tax@hand article bulletin on the Deloitte USA website.