transfer pricing tagged posts

African Nations Need to Address Transfer Pricing Malpractices

June 8, 2015 Taxation In Africa

JOHANNESBURG – By improving their transfer pricing regulations, governments in Western Africa could see their tax revenues rise by billions each year.

Benin, Burkina Faso, Cape Verde, Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo could collectively raise their tax collections by millions each year if they adequately tackled the issue of tax evasion, capital flight, and illicit outflows, according to information contained in a new report issued late last week by the international think tank Dalberg and the international aid group Open Society Institute West Africa.

The countries, which together make up the Economic Community of West African States, could see their cumulative tax revenues over the years 2012 and 2018 rise by ...

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Transfer Pricing Assistance Outlined for Developing Nations

July 29, 2011 International Tax Cooperation

Developing nations need assistance with transfer pricing documentsDeveloping nations need to instate modern transfer pricing legislation to increase tax revenues, and assistance offered to these countries must be targeted, in order to maximize effectiveness, based on their current state of legislation and tax infrastructure.

A new study was prepared earlier this month by PricewaterhouseCoopers for the European Commission, outlining the potential steps needed to address the inadequate transfer pricing rules in developing nations. According to findings contained in the report, the economic advantages and tax revenue benefits of instating appropriate transfer pricing regulations in developing nations will far outweigh the costs of fostering the necessary expertise and tax administration...

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EU Needs to Halt Direct Investment into Mining in Africa

May 25, 2011 Taxation in EUTaxation in Zambia

EU Needs to Halt Direct Investment into Mining in AfricaA ban on the government financing of mining activities has been called for in Europe, following allegations of gross tax evasion by resource sector operators in Africa.

Fifty members of the European Parliament have signed an open letter to the EU president and the European Commission, calling for a temporary suspension on all government financing of international mining projects. The moratorium is to be upheld until adequate standards can be put in place to protect the tax revenues and development opportunities for the countries in which the mining takes place.

According to the letter, each year sees millions of Euros flow from the European Investment Bank (EIB) into international mining and resource extraction projects, for the purposes of encouraging development initiatives on the Afri...

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Expanded Reporting Needed to Fight Poverty

November 12, 2010 International Tax Cooperation

Tax by definitionThe fight against global poverty could be better supported if financial reporting requirements for multinational corporations were to be greatly expanded, allowing governments to fight tax evasion and collect appropriate amounts of taxes to fund services in developing nations.

On November 10th a new report was released by the international development charity Christian Aid, proposing extensive new reporting standards for any company operating on a multinational level. The report, Shifting Sands: Tax Transparency and Multinational Companies, claims that developing nations need to increase their ability to collect adequate levels of national tax revenues and decrease dependency on international aid, in order to effectively fight poverty.

In order for governments of developing nations to rais...

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Vietnam Will Tighten Transfer Pricing Investigations

September 16, 2010 Taxation in Vietnam

Notre Dame Cathedral, Ho Chi Minh City, VietnamVietnam will soon boost its investigations into transfer pricing practices of local businesses, in order to decrease the occurrence of tax evasion and spurn national tax revenues.

The tax authorities of two of Vietnam’s primary business centers are launching pilot programs of increased investigations into the transfer pricing behavior of local units of international businesses. According to Nguyen Van Mo, deputy head of the tax department in Hanoi, and Le Thi Thu Huong, deputy head of the Ho Chi Minh City tax authority, the two departments will begin more intense scrutiny of companies which potentially could be allocating their profits overseas to avoid tax liabilities in Vietnam.

According to previously released statements by tax authorities, nearly 40 percent of companies registered in...

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