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Spot the problem: The EU recruits Multinational Accountants Price Waterhouse Coopers to address transfer pricing challenges in developing countries
July 20th, 2011
Recently The European Commission published a report entitled “Transfer pricing and developing countries,” which is meant to assist these countries with addressing the problem. Transfer pricing is the single biggest source of illicit financial flows in the world costing developing countries hundreds of billions of dollars every year. While an assessment of the impact of transfer pricing in developing countries is sorely needed the report was narrowly focussed on the implementation and interpretation of the arms length principle. The arm’s length principle, promoted by the OECD that has proven to be very difficult to implement globally...
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