Worldwide transfer pricing reference guide 2014

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Namibia (continued) Statute of limitations on transfer pricing assessments Namibia does not have a statute of limitation. The Inland Revenue may indefinitely conduct reviews/audits. However, in terms of the Income Tax Act, records must be maintained for a period of five years. It is unlikely that periods older than five years will be reviewed as taxpayers are only required to maintain records for a period of five years. Return disclosures/related party disclosures Currently there are no disclosure requirements. Transfer pricing–specific returns Not applicable. Frequency of tax audit and transfer pricing scrutiny by the tax authority Inland Revenue is not actively conducting transfer pricing reviews or tax audits at present. Inland Revenue does not have a dedicated transfer pricing team at present. APA opportunity Namibia does not currently have an APA program. Expected reaction to OECD Report on BEPS There has not been a reaction. Worldwide transfer pricing reference guide 206
Netherlands Taxing authority and tax law Tax authority: Dutch Tax Administration (Belastingdienst) Tax law: • Tax authority Articles 3.8 and 3.25 of the Dutch Income Tax Act 2001 • Articles 8 and 8b of the Dutch Corporate Income Tax Act 1969 • Effective 1 January 2002, Article 8b codified the arm’s length principle and introduced transfer pricing documentation requirements in the Netherlands Relevant regulations and rulings Besides the articles in Dutch tax law mentioned above, the Dutch Under-Minister of Finance issued several decrees in August 2004, which both updated and expanded the decrees published in 2001, including adjustments and improvements in the rules for obtaining advance certainty. These 2004 decrees provide more clarity on how the fiscal rules within the APA/Advance Tax Ruling (ATR) practice should function. Another decree clarifies how the tax authority will treat certain issues regarding the application of the arm’s length principle. In November 2013, the Dutch Under-Minister of Finance issued a new decree on transfer pricing and the application of the arm’s length principle, which combines and replaces two previous decrees on transfer pricing (i.e., IFZ 2001/295M and IFZ 2004/680M). This decree provides important insights into the Dutch tax administration’s position in applying the arm’s length principle in general and into specific types of common intercompany transactions, such as financial transactions, captive insurance companies, (in)tangible fixed assets, centralized procurement companies, and intercompany services. The decrees provide the tax authority’s formal position, but do not legally bind the taxpayer. The ten decrees published are: • APA decree, IFZ2004/124M • ATR decree, IFZ2004/125M • Decree regarding financial service activities, IFZ2004/126M • Questions and answers on the decree regarding service entities and grandfather regime ruling policy, IFZ2004/127M • Decree on advance certainty and good faith versus treaty partners, DGB2004/1337M • Decree on APAs, ATRs, financial services entities, interposed holdings, contact point potential foreign investors, organization and competency rules, DGB2004/1338M • Implementation decree regarding the Coordination Group Transfer Pricing, DGB2004/1339M • Accelerated Mutual Agreement Procedure decree, IFZ2008/248M • Decree on profit allocation to permanent establishments (PEs), IFZ2010/457M • Decree on transfer pricing and the application of the arm’s length principle and the OECD Guidelines, IFZ 2013/184M Additionally, it is expected that new guidance on the application of safe harbor rules on substance to group financing/licensing companies and holding companies, and exchange of information will be issued. OECD guidelines treatment The tax authority generally follows the OECD Guidelines. Further guidance regarding the interpretation and application of the arm’s length principle is provided by the Dutch transfer pricing decree (as published by the Under-Minister of Finance in the decree of November 2013. According to this decree, the OECD Guidelines leave room for interpretation or require clarification on several issues. The goal of the decree is to provide insight into the position of the tax authority regarding these issues. The transfer pricing decree of November 2013 is an excellent source for transfer pricing guidance. It provides specific guidance on intra-group services and shareholder activities, support services, contract research, cost contribution arrangements, arm’s length price determination when the value at the time of the transaction is uncertain, financial transactions, captive insurance companies, (in) tangible fixed assets, centralized purchasing companies and other topics. With respect to business restructurings, no specific guidance has been issued to date. However, the tax authority generally follows the OECD guidance in this subject. Worldwide transfer pricing reference guide 207
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Worldwide Transfer Pricing Referenc
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Worldwide transfer pricing referenc
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Nigeria 215 Norway 217 Oman 220 Pak
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The content is current as of 28 Feb
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CUP (comparable uncontrolled price)
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Albania (continued) Priorities/pric
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Algeria Taxing authority and tax la
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Algeria (continued) Return disclosu
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Angola (continued) Transfer pricing
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Argentina Taxing authority and tax
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Argentina (continued) Transfer pric
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Australia Taxing authority and tax
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Australia (continued) Priorities/pr
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Australia (continued) Documentation
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Australia (continued) Frequency of
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Austria (continued) Documentation r
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Bahrain Taxing authority and tax la
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Bangladesh (continued) Penalty reli
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Belgium Taxing authority and tax la
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Belgium (continued) Statute of limi
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Bolivia Taxing authority and tax la
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Botswana Taxing authority and tax l
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Brazil (continued) Relevant regulat
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Brazil (continued) Priorities/prici
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Brunei Taxing authority and tax law
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Bulgaria (continued) Transfer prici
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Bulgaria (continued) Return disclos
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Cameroon Taxing authority and tax l
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Canada Taxing authority and tax law
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Canada (continued) Documentation re
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Chile Taxing authority and tax law
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Chile (continued) Return disclosure
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China (continued) Documentation req
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Colombia Taxing authority and tax l
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Colombia (continued) Penalty relief
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Republic of Congo Taxing authority
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Costa Rica Taxing authority and tax
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Croatia Taxing authority and tax la
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Croatia (continued) Frequency of ta
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Czech Republic Taxing authority and
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Denmark Taxing authority and tax la
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Denmark (continued) Documentation d
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Dominican Republic Taxing authority
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Dominican Republic (continued) Expe
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Ecuador (continued) Priorities/pric
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Ecuador (continued) Return disclosu
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Egypt Taxing authority and tax law
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Egypt (continued) Frequency of tax
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El Salvador (continued) Transfer pr
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Estonia Taxing authority and tax la
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Fiji Taxing authority and tax law T
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Fiji (continued) Frequency of tax a
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Finland (continued) Documentation r
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France (continued) Transfer pricing
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France (continued) Documentation re
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France (continued) Expected reactio
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Gabon (continued) Transfer pricing-
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Georgia (continued) Documentation r
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Germany Taxing authority and tax la
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Germany (continued) For late filing
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Ghana Taxing authority and tax law
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Ghana (continued) APA opportunity T
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Greece (continued) Transfer pricing
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Guatemala Taxing authority and tax
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Honduras Taxing authority and tax l
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Hong Kong (SAR) Taxing authority an
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Hong Kong (SAR) (continued) APA opp
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Hungary (continued) Priorities/pric
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Hungary (continued) Documentation r
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Iceland Taxing authority and tax la
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India Taxing authority and tax law
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India (continued) Documentation req
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Indonesia Taxing authority and tax
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Indonesia (continued) Frequency of
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Ireland Taxing authority and tax la
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Ireland (continued) Frequency of ta
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Israel (continued) Priorities/prici
Page 155 and 156: Italy Taxing authority and tax law
Page 157 and 158: Italy (continued) Transfer pricing
Page 159 and 160: Italy (continued) Frequency of tax
Page 161 and 162: Japan (continued) Transfer pricing
Page 163 and 164: Japan (continued) APA opportunity U
Page 165 and 166: Kazakhstan Taxing authority and tax
Page 167 and 168: Kazakhstan (continued) Frequency of
Page 169 and 170: Kenya (continued) Documentation req
Page 171 and 172: Kosovo (continued) Documentation re
Page 173 and 174: Kuwait (continued) Documentation re
Page 175 and 176: Latvia Taxing authority and tax law
Page 177 and 178: Lebanon Taxing authority and tax la
Page 179 and 180: Lithuania Taxing authority and tax
Page 181 and 182: Luxembourg Taxing authority and tax
Page 183 and 184: Former Yugoslav Republic of Macedon
Page 185 and 186: Malaysia Taxing authority and tax l
Page 187 and 188: Malaysia (continued) Frequency of t
Page 189 and 190: Maldives (continued) Statute of lim
Page 191 and 192: Malta (continued) Return disclosure
Page 193 and 194: Mauritius (continued) APA opportuni
Page 195 and 196: Mexico (continued) Transfer pricing
Page 197 and 198: Mexico (continued) Return disclosur
Page 199 and 200: Montenegro (continued) Frequency of
Page 201 and 202: Morocco (continued) Transfer pricin
Page 203 and 204: Myanmar Taxing authority and tax la
Page 205: Namibia Taxing authority and tax la
Page 209 and 210: Netherlands (continued) Statute of
Page 211 and 212: New Zealand Taxing authority and ta
Page 213 and 214: New Zealand (continued) Frequency o
Page 215 and 216: Nigeria Taxing authority and tax la
Page 217 and 218: Norway Taxing authority and tax law
Page 219 and 220: Norway (continued) Frequency of tax
Page 221 and 222: Oman (continued) Frequency of tax a
Page 223 and 224: Panama Taxing authority and tax law
Page 225 and 226: Panama (continued) Expected reactio
Page 227 and 228: Papua New Guinea (continued) Docume
Page 229 and 230: Peru Taxing authority and tax law T
Page 231 and 232: Peru (continued) Frequency of tax a
Page 233 and 234: Philippines (continued) Transfer pr
Page 235 and 236: Poland Taxing authority and tax law
Page 237 and 238: Poland (continued) Transfer pricing
Page 239 and 240: Poland (continued) Return disclosur
Page 241 and 242: Poland (continued) APA opportunity
Page 243 and 244: Portugal (continued) Transfer prici
Page 245 and 246: Portugal (continued) APA opportunit
Page 247 and 248: Qatar (continued) OECD guidelines t
Page 249 and 250: Qatar (continued) Return disclosure
Page 251 and 252: Romania (continued) Documentation r
Page 253 and 254: Russian Federation Taxing authority
Page 255 and 256: Russian Federation (continued) Freq
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Saudi Arabia (continued) Transfer p
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Senegal (continued) Documentation r
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Serbia Taxing authority and tax law
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Singapore Taxing authority and tax
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Singapore (continued) Frequency of
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Slovak Republic (continued) Documen
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Slovenia Taxing authority and tax l
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Slovenia (continued) Transfer prici
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South Africa (continued) Penalty re
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South Korea (Republic of Korea) Tax
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South Korea (Republic of Korea) (co
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Spain (continued) Penalty relief So
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Spain (continued) APA opportunity T
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Sri Lanka (continued) Return disclo
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Sweden (continued) Documentation re
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Switzerland Taxing authority and ta
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Taiwan Taxing authority and tax law
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Taiwan (continued) Return disclosur
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Tanzania Taxing authority and tax l
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Thailand Taxing authority and tax l
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Thailand (continued) Frequency of t
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Turkey (continued) Priorities/prici
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Uganda Taxing authority and tax law
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Ukraine Taxing authority and tax la
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Ukraine (continued) Transfer pricin
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United Kingdom Taxing authority and
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United Kingdom (continued) Transfer
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United States (continued) Transfer
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Uruguay Taxing authority and tax la
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Uruguay (continued) APA opportunity
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Venezuela Taxing authority and tax
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Venezuela (continued) Expected reac
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Vietnam (continued) Relevant regula
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Vietnam (continued) Documentation d
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Zimbabwe Taxing authority and tax l
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Zimbabwe (continued) Relevant regul
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Transfer pricing contacts Area cont
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Jurisdiction contacts • El Salvad
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Jurisdiction contacts • Rep. of C
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EY | Assurance | Tax | Transactions
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Worldwide transfer pricing reference guide 2014

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