OECD consults on transfer pricing rules for intangibles

The OECD Committee on Fiscal Affairs has issued a revised discussion draft on Transfer Pricing Aspects of Intangibles for comment by 1 October 2013.

This additional consultation seeks comments to changes made to the OECD's original 6 June 2012 discussion draft containing proposed revisions to the transfer pricing guidelines on intangibles, following comments received and a public consultation in November 2012.

The draft proposals include the addition of a new section addressing features of the local market, location savings, assembled workforce and corporate synergies; explanatory changes to the definition of intangibles; and revisions to the draft that adopt a more transactional approach while preserving a clear focus on the importance of functions performed, assets used and risks assumed.

The OECD's work on intangibles is specifically listed as one of the base erosion and profit shifting (BEPS) actions contained in the OECD's BEPS Action Plan published on 19 July 2013. It is also closely related to other BEPS actions contained in the plan. Accordingly, this revised discussion draft may be subject to further revisions.

The OECD will hold a further public consultation on the revised discussion draft and other transfer pricing matters on 12 - 13 November 2013 at the OECD Conference Centre in Paris.

More details are available from the OECD at http://www.oecd.org/ctp/transfer-pricing/revised-discussion-draft-intang...

Diane Tan |Content manager - current awareness, CCH

Diane Tan is content manager, current awareness at CCH, Wolters Kluwer UK www.cch.co.uk...

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