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Transfer Pricing PNG IRC Response

Transfer Pricing PNG IRC Response. Pacific Islands Tax Administrators Association 22-25 August 2011, Fiji. The transfer pricing risk. What is transfer pricing What is the tax mischief OECD guidelines Legal Framework. Why respond?. Certainty of international transactions

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Transfer Pricing PNG IRC Response

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  1. Transfer Pricing PNG IRC Response Pacific Islands Tax Administrators Association 22-25 August 2011, Fiji

  2. The transfer pricing risk • What is transfer pricing • What is the tax mischief • OECD guidelines • Legal Framework

  3. Why respond? • Certainty of international transactions • Acceptance into international tax community • The ‘’level playing field’’ • Promoting international trade and investment

  4. The PNG experience 2005-2010 - attempts to embed a response to transfer pricing met with limited success: • International conference and workshop participation and twinning skilling alone do not provide the answer • Time to re-think our approach

  5. How we are responding A four year plan with three phases: • 2011: Public engagement and awareness • 2012: Risk assessment • 2013-14: Risk response – audits and other arrangements

  6. What we are learning • Long term commitment • Resourcing • Embracing Concept • Skilling • Compliance Initiative • International Responsibilities

  7. Questions?? For further information visit IRC website: www.irc.gov.pg

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