{"id":17509,"date":"2012-09-27T18:04:54","date_gmt":"2012-09-27T17:04:54","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=17509"},"modified":"2012-09-27T18:04:54","modified_gmt":"2012-09-27T17:04:54","slug":"tax-authorities-back-country-by-country-reporting-to-prevent-transfer-pricing-abuse","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/09\/27\/tax-authorities-back-country-by-country-reporting-to-prevent-transfer-pricing-abuse\/","title":{"rendered":"Tax authorities back country-by-country reporting to prevent transfer pricing abuse"},"content":{"rendered":"

Transfer Pricing Weekly (I kid you not, there is such a magazine) has good news on\u00a0country-by-country reporting<\/a> this week. As they note<\/a>:<\/p>\n

Four tax authorities spoke of the benefits of country-by-country reporting (CBCR) and greater transparency at International Tax Review\u2019s Global Transfer Pricing Forum in Paris this week, though they said it would not be sufficient alone to prevent transfer pricing abuse.<\/p><\/blockquote>\n

They're right: it's not, but then I never claimed it was!<\/p>\n

As Transfer Pricing Weekly\u00a0continues:<\/p>\n

Developing countries have more to lose than anyone else when it comes to transfer pricing abuse.\u00a0Nishana Gosai<\/a>, transfer pricing manager at the South African Revenue Service\u2019s (SARS) Large Business Centre, spoke strongly in favour of CBCR reporting to help tackle the problem.<\/p>\n

\u201cWe strongly support CBCR,\u201d said Gosai. \u201cIt would help with a lot of the challenges developing countries face.\u201d<\/p><\/blockquote>\n

That's very welcome\u00a0endorsement. The UK was not quite so sure, whilst\u00a0welcoming:<\/p>\n

Peter Steeds, deputy director and head of transfer pricing at HM Revenue & Customs\u2019 Business International noted that there has been \u201ca lot of noise\u201d around CBCR from non-governmental organisations.<\/p>\n

\u201cIt\u2019s seen as part of the armoury for developing countries to protect their tax bases from the evils of transfer pricing abuse,\u201d said Steeds. \u201cIt would go some way towards this, but there are lots of pitfalls in trying to get an accurate picture with tax breaks.\u201d<\/p><\/blockquote>\n

Odd, isn't it that our tax authority is onloy\u00a0lukewarm\u00a0on receiving date that they admit will help them collect tax. Why is that, I wonder? South Africa had no such\u00a0doubts:<\/p>\n

Gosai admitted that CBCR will not take away all the problems SARS faces in trying to collect its fair share of tax revenue.<\/p>\n

\u201cBut one of the biggest issues is the lack of access to information,\u201d she said. \u201cCBCR is a good basis to get reliable information.\u201d<\/p><\/blockquote>\n

Canada go it too,\u00a0saying that CBCR is part of a much larger risk assessment process whilst it's reported that:<\/p>\n

Eric Lesprit, head of the APA team at the French Tax Administration noted that CBCR is seen as a good way to fight tax havens.<\/p>\n

\u201cWe think it could be useful,\u201d he said. \u201cIt can help our audit operations. We need more information gathering. Why not? It could be interesting. We\u2019re waiting for what comes from the OECD.\u201d<\/p><\/blockquote>\n

Good news!<\/p>\n

There's much more on\u00a0country-by-country reporting here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Transfer Pricing Weekly (I kid you not, there is such a magazine) has good news on\u00a0country-by-country reporting this week. As they note: Four tax authorities
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79],"tags":[],"class_list":["post-17509","post","type-post","status-publish","format-standard","hentry","category-country-by-country"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/17509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=17509"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/17509\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=17509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=17509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=17509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}