Transfer Pricing Adjustments

AFRICA REGIONMIDDLE EAST

• E-invoicing and interaction with transfer pricing: a Middle East and African perspective

ARGENTINA

• Customs continues to focus on customs valuation and transfer pricing issues

ASIA PACIFIC

• Managing your customs implications for retroactive transfer pricing adjustment in Asia

AUSTRALIA

• Reflecting transfer pricing adjustments in customs import values – compliance update
• Transfer pricing adjustments and customs obligations
• Transfer pricing and GST implications for brand equity payments

AUSTRIA/ GERMANY/ SWITZERLAND

• DACH region – Switzerland: the tension between transfer prices and customs values

BAHRAIN

• Related Party Transactions for VAT in Bahrain

BELGIUM

• 2021 year-end points of attention: Donations, charities, TP adjustments, ….
• Ruling: Transfer pricing consequences of a VAT refund for limited risk distributors

BRAZIL

• Brazil Normative Instruction on the Valuation of Imported Goods Including Transfer Pricing References
• Brazil’s new transfer pricing rules and their impact on customs valuation discussed
• Brazilian tax authority may use information from transfer pricing study in customs valuations

BULGARIA

• Bulgaria adopts mandatory transfer pricing documentation

CANADA

• Proposed changes to Canadian customs valuation rules: Implications for importers

CHINA

• China clarifies procedures for processing payments for transfer pricing adjustments
• China Customs’ new practice further challenges the implementation of post-importation TP adjustments
• China launches first collaborative TP administration pilot program between Customs, Tax Authorities in Shenzhen
• Considerations for year-end transfer pricing adjustments in China
• Shenzhen customs and tax authorities announce transfer pricing collaboration
• Shenzhen Introduces Collaborative Mechanism for Customs and Tax Transfer Pricing on Imports

CZECH REPUBLIC

• Transfer pricing adjustments can lead to tax risks
• VAT regime for the contribution for the purposes of adjustment of transfer prices between related parties (2006)

EUROPEAN UNION

• VAT Expert Group – Paper on possible VAT implications of Transfer Pricing adjustments
• Arm’s Length Principle and Taxable Amount in the VAT Directive
• ECJ – C-529/16 Hamamatsu – Customs valuation and transfer pricing
• ECJ – C-558/19 (Impresa Pizzarotti & C SPA Italia Sucursala Cluj) – Freedom of Establishment – Judgment on Transfer Pricing Adjustment
• EU: Retroactive intercompany transfer pricing adjustments and customs valuation of imported goods
• Europe: Transfer Pricing and Indirect Tax Outlook 2020
• Remember … VAT Committee WP#923 on VAT implications of Transfer Pricing (Feb 28, 2017)
• Remember … VAT Expert Group on Transfer Pricing Adjustments – Paper/Opinion issued on April 18, 2018
• Transfer pricing and customs valuation
• Transfer Pricing turmoil and VAT novelty
• VAT and Transfer Pricing
• VAT and Transfer Pricing: smooth sailing, or a perfect storm?
• VAT EXPERT GROUP 18th meeting on February 5, 2018 – Draft paper on topic for discussion Possible VAT implications of Transfer Pricing

EUROPEAN UNION/ LATVIA

• ECJ Case C-1/18 (Orgibalt Riga) – Judgment – Customs value; Similar goods; Price adjustments; Discounts

EUROPEAN UNION/ LITHUANIA

• ECJ Customs – C-782/23 (Tauritus) – Questions – Customs Valuation Debate: Seeking Clarity

GCC

• GCC: E-Invoicing: Beyond VAT, what about Transfer Pricing?

GERMANY

• Munich court rules that a year-end TP adjustment does not justify additional import duties

INDIA

• Dealers to get input tax credit on GST for the post-sale discounts
• GST postscript: The interplay between related party transactions and transfer pricing

ITALY

• Answer no. 529/2021 – Relevance for VAT purposes of price adjustments
• Further guidance needed on transfer pricing adjustments and customs valuations in Italy
• How does Italy consider a Transfer Pricing Adjustment for VAT purposes?
• Italian Revenue Agency Ruling Addresses Permanent Establishments, VAT and TP
• Italian tax agency clarify transfer pricing adjustments and VAT
• Italy invoicing – new requirements / Transfer pricing adjustments – Clarifications by Italian revenue agency
• Landmark clarifications on VAT implications of transfer pricing adjustments and implementation of Skandia to Italian VAT grouping
• Ruling #529: Tax treatment applicable to price adjustments on the taxable base
• Tax authorities clarify VAT treatment of price adjustments
• VAT impact of transfer pricing adjustments
• VAT treatment of transfer pricing adjustments
• Year-end TP adjustments may not be relevant for VAT purposes

LATVIA

• Latvia introduces simplified Transfer Pricing provisions for low value-adding intra-group services

LUXEMBOURG

• Luxembourg issues circular on fair market value rules for VAT on transactions between related parties
• Luxembourg: VAT Circular on transactions between related parties
• New rules regarding the VAT taxable basis of transactions between related parties
• Transfer Pricing and Value Added Tax are getting closer, so what now?
• Transfer pricing and VAT
• Value Added Tax and Transfer Pricing, the “Last Partners on the Dance Floor”
• VAT and transfer pricing, the “last partners on the dance floor”

NEW ZEALAND

• Transfer Pricing Adjustments & Customs

NIGERIA

• Finance act 2023
• Overview of recent developments on transfer pricing in Nigeria

POLAND

• Correction of transaction prices and customs and tax settlements
• Customs value adjustments will not always affect VAT
• Do transfer pricing adjustments affect VAT settlements?
• Polish tax program minimizes TP and tax planning risk. Quid indirect tax?
• Profitability adjustment/Transfer Pricing Adjustment has no effect on VAT
• The absurdity of Polish TP obligations covering transactions with third parties
• TP Adjustments and VAT Settlements: To Show or Not to Show?
• Transfer pricing adjustments and their impact on VAT, excise and customs duties
• When is a transfer pricing adjustment possible?

ROMANIA

• New obligation to report transactions with affiliates in form 394, to be used for transfer pricing analysis
• Transfer Pricing in Romania: Regulations, tax audits aspects and other local particularities.

SAUDI ARABIA

• The link between Value Added Tax, Transfer Pricing and Customs

SINGAPORE

• New e-Tax Guide clarifying GST treatment of transfer pricing adjustments issued
• Singapore Publishes New E-Tax Guide on GST Transfer Pricing Adjustments
• Updated guidance on GST impact of Transfer Pricing Adjustments

SOUTH AFRICA

• Customs valuation and transfer pricing adjustments receiving focus from authorities
• Updated Taxation Guide for 2022 Legislation

TAIWAN

• Taiwan Customs Requirements when Making One-Time TP Adjustments

UNITED KINGDOM

• (In)direct Tax Considerations in Light of Covid-19 and Brexit (TP and indirect tax)
• HMRC Guidance: Valuing imported goods using Method 1 (transaction value)
• HMRC internal manual: Transfer pricing: operational guidance: interaction with indirect taxes: interaction with VAT
• HMRC internal manual: VAT Valuation Manual
• Is the arms length principle about to enfold VAT?

UNITED STATES

• Transfer price adjustments don’t necessarily increase import duty costs

WORLD

• Do you remember these articles on VAT and Transfer Pricing?
• EY’s 2020-21 Worldwide Transfer Pricing Guide
• How to navigate uncertainties (Adjusting transfer prices) in tax and customs compliance in the pandemic
• IBFD Article: Intra-Group Transactions from VAT Point of View – The Pricing
• Impact of transfer pricing adjustments on VAT liabilities (Master Thesis 2016)
• Improve risk management by understanding the interplay between transfer pricing and indirect taxes
• Mind the gap – why operational transfer pricing must include customs
• The Link Between Transfer Pricing and Customs Valuation
• Transfer Pricing Adjustments and Customs Duties in a post COVID-19 environment
• Transfer pricing adjustments, potential customs tariff opportunities
• Transfer Pricing and Customs Value: The challenge for X-border Intercompany transactions
• Transfer Pricing Updates
• Where Transfer Pricing meets customs valuation
• Year-end adjustments from a transfer pricing and indirect tax perspective