GAAR - Trinidad & Tobago - Iatj.net
GAAR - Trinidad & Tobago - Iatj.net
GAAR - Trinidad & Tobago - Iatj.net
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Jamaica and Barbados<br />
• These are the only countries in the Commonwealth<br />
Caribbean to give specific statutory recognition to<br />
Sharkey v Wernher in the context of counteracting<br />
transfer pricing (value of the transfer of goods<br />
between related entities).<br />
• In such instances, statutory control is assumed by the<br />
Revenue to override prices fixed for the transfer of<br />
goods and services between related entities under<br />
common control by substituting the realistic market<br />
value instead of allowing the prescribed price to<br />
prevail<br />
3rd IATJ Assembly Munich 18‐19 October 2012 35