Financial Transparency Coalition

Australia’s tax authorities have vowed to scrutinise taxpayers’ transfer pricing activities and thin capitalisation rules in a bid to help businesses and individuals facing genuine hardship during the economic downturn.

The curse of exchange controls could be to blame for so many of South Africa's otherwise astute rich falling for Barry Tannenbaum's wiles. It seems Tannenbaum offered investors a conduit called transfer pricing to take their money out of the country. The aim was to shift offshore some of the enormous profits he promised them.

Strategic dispute resolution has become critical for companies to sustain their global transfer pricing strategies. Now, PricewaterhouseCoopers (PwC) announced its International Transfer Pricing 2009 book which predicts an increase in disputes around the world as more and more tax authorities aggressively attempt to enforce their transfer pricing rules. “In 2009 we expect that several major territories will adopt new or revised requirements for transfer pricing and the impact of the OECD’s discussion draft on business restructurings will be evaluated,” said Garry Stone, a Partner with PricewaterhouseCoopers LLP.

Kolkata: Although the government failed to lay down a concrete roadmap on ways to reduce the huge fiscal deficit in the Union Budget 2009-10, the changes made in the tax structure, both direct and indirect taxes, were a welcome measure and could have a positive impact on the economy, felt industry experts.