The OECD was requested by the G8 at its Lough Erne summit "to find ways to address the concerns expressed by developing countries on the quality and availability of the information on comparable transactions that is needed to administer transfer pricing effectively.” This paper, which has been prepared by the OECD Secretariat in conjunction with the Task Force on Tax and Development, sets out and briefly discusses four possible approaches to addressing the concerns over the lack of data on comparables that have been expressed by developing countries. It is an interim draft that has been released to obtain comments, suggestions and prioritisation of the potential measures identified in the paper. The views expressed therein do not necessarily represent the views of the OECD member countries.
The paper will be discussed in two parallel sessions on the last day of the Global Forum on Transfer Pricing meeting of 26–28 March 2014. The last day of the March meeting of the Global Forum will be held in conjunction with the Task Force on Tax & Development.
Written comments and suggestions on this paper should be sent to TransferPricing@oecd.org by 11 April 2014.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.