This is to let you know of two new documents published by the UN on 19 and 24 July 2024: Transfer Pricing Compliance Assurance – An End-to-End Toolkit and Interstitial Guidance on Transfer Pricing during the COVID-19 Economic Downturn.
The first is a code of good practices and tools designed as a reference for the tax administrations of developing countries to help them navigate complex transfer pricing compliance processes. The other one is intended to support tax administrations with the unique challenges encountered with applying the arm’s length principle as a result of the economic downturn caused by the COVID-19 pandemic.
In Poland, the Office of the Prime Minister has published a notice that work is underway to amend income tax legislation. The goal is to make changes designed to bring tax regulations to order, remove interpretation inconsistencies and doubts, and make the tax system more coherent. Among the expected changes are those that seek to refine transfer pricing regulations – these technical modifications are said to be intended to remove inconsistencies in the legislation.
We will write more on the changes once a draft of the amending legislation is officially published.
If this issue pertains to your business and you are interested in our assistance, please contact us.
This blog post is provided for general information purposes to keep you up-to-date with changes in tax law, tax rulings by authorities, case law of courts and interesting commentaries. Doradztwo Podatkowe WTS&SAJA shall not be held legally liable for any acts or omissions resulting from reliance on such information.