Countries in LATAM as Argentina, Brazil, Chile, Colombia, Mexico, Peru and Uruguay have been implementing in their domestic legislations some or all of the three-tiered Transfer Pricing (TP) documentation (Country by Country report, Master File and Local file) recommended by the OECD on Action 13 of BEPS project. Hence, multinational enterprises operating in the region are required to fill this new TP documentation in compliance with the OECD standards and the specific regulations of the particular country.
In this context, we would like to invite you to our webinars where our Alliance Partners of Argentina, Brazil, Chile, Colombia, Mexico, Peru and Uruguay, will discuss about the implementation of the of the three-tiered documentation in these countries, the relevant characteristics of this documentation and as well the impact of these requirements for companies operating in the region.
In addition, we will discuss the regional integration of Transfer Pricing in Central America (Costa Rica, Guatemala, El Salvador, Honduras, Nicaragua and Panama).
The webinar will consider the following:
- Belisa Severini, Senior Associate, TPA Global, Argentina
- Sonia Catalina Muñoz Rodriquez, Junior Associate, TPA Global, The Netherlands
- Jorge De la Rosa, TPA Global Member, Mexico
- Luis Ugarelli, TPA Global Alliance Partner, Peru
- Hermano A. C. Notaroberto Barbosa, Brazil
Thursday, January 11, 2018
Argentina, Brazil, Peru and Central America
10:00 AM - 11:00 AM Mexico, USA and Canada
A presentation on the improvements BEPS has made to the resolution of international tax disputes through the Mutual Agreement Procedure (MAP) under tax treaties.
The traditional failures of the MAP procedure are all too well known. MAP is lengthy and does not hold any guarantee of a solution, if it can be accessed at all. However, there is now substantial repair provided under BEPS, which may be viewed as counter-balancing the anti-tax avoidance measures that BEPS holds and proposes. Disputes are expected to increase significantly due to such BEPS measures, affecting mostly the area of transfer pricing and connected P.E. and withholding tax issues. As result, the demand for MAP resolution will increase as well.
The improvements made relate mainly to MAP access for taxpayers, various MAP timelines, and the implementation of MAP results. In addition, BEPS has set a range of minimum standards for authorities’ proper MAP conduct, that are in the process of becoming widely adopted through the global membership of the BEPS Inclusive Framework, comprising already of over 100 countries. There are peer reviews being conducted to monitor countries’ observance of these minimum standards, the results of which are captured in public reports.
To guarantee a timely MAP resolution, BEPS further provides for mandatory binding arbitration, be it still only on an optional basis. There are at present 25 countries that have committed themselves to this MAP arbitration; most of these include OECD member countries, but also others such as Singapore. The recent 2017 Update of the OECD Model Income Tax Convention shows a fortunate trend of countries gradually abandoning prior principled reservations against MAP arbitration.
There are some remaining weaknesses, however, in particular the extent of taxpayer rights and participation under the MAP and MAP arbitration procedures that BEPS leaves to the discretion of authorities individually.
TPA Global has initiated a series of webinars covering the global impact of emerging BEPS developments on various international structures. In the 3rd webinar of this series, we will analyze if the improvements made under BEPS indeed result in a MAP procedure becoming more attractive for taxpayers to pursue, either instead of, or, as the case may be, next to domestic litigation.
9:00 AM - 10:00 AM Mexico, USA and Canada
1:00 PM - 2:00 PM Brazil
3:00 PM - 4:00 PM London (GMT)
4:00 PM - 5:00 PM Amsterdam (CET)
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