Transfer Pricing Links 18/04/2014
Annual Study Shows Heavy US Tax Compliance Burdens: Tax News (M Godfrey)
“The National Taxpayers Union (NTU) has released its 16th annual study of tax complexity in the United States, finding that the economy lost USD224bn and 6.1bn hours of productivity due to the burden of compliance with the country’s tax code.
NTU Senior Counselor, and the study’s author, David Keating, said: “Our convoluted tax laws cost much more than the dollars collected. It’s time Congress and the President put a stop to the wasted time and money spent figuring out our complicated tax laws.”
NTU has been publishing “A Taxing Trend: The Rise in Complexity, Forms, and Paperwork Burdens” to reveal tax complexity burdens since 1999, highlighting historical trends in the compliance burden the Internal Revenue Service (IRS) places on Americans.”
Public consultation on transfer pricing documentation and country-by-country reporting: OECD
“15/04/2014 – The OECD will hold a public consultation on the discussion draft on transfer pricing documentation and country-by-country reporting on 19 May 2014 at the OECD Conference Centre in Paris, France.
Action 13 of the BEPS Action Plan released on 19 July 2013 calls for a review of the existing transfer pricing documentation rules and the development of a template for country-by-country (CbC) reporting of income, taxes and economic activity for tax administrations. On 30 January 2014 the OECD published a discussion draft containing revised guidance on transfer pricing documentation and country-by-country reporting. The written comments received by 23 February 2014 were discussed by Working Party No. 6 of the Committee on Fiscal Affairs at its March 2014 meeting. Further discussions will take place during the Working Party’s May meetings.
The 19 May public consultation event on the discussion draft is open to the public and press. Because of space limitations, priority will be given to those organisations that have provided timely written comments on the paper. ”
Comments received on Discussion Draft on transfer pricing documentation and country-by-country reporting published today: OECD
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