TP Ticker – March 2019

Ireland’s TP Rules Public Consultation
In February, the Tax Department of the Irish Department of Finance published the report “Ireland’s Transfer Pricing Rules Public Consultation”.  The report aims at obtaining feedback regarding a considered revision of Ireland’s transfer pricing (“TP”) regulations which are contained in Part 35A of the Taxes Consolidated Act 1997.  These are currently directly referring to the OECD Transfer Pricing Guidelines (“OECD TPG”) of 2010 and are excluding specifically small and medium enterprises and non-trading transactions.  The question to which replies are invited include, if a direct reference to the 2017 OECD TPG may give rise to any specific issues, if transfer pricing legislation should also cover small and medium sized enterprises, if they should be extended to taxable non-trading income, if the documentation requirements should be expanded to the OECD standard, and if branches should be subject to TP regulations.  Interested parties can submit their replies until 2 April wither via email or mail.
“Ireland’s Transfer Pricing Rules Public Consultation” are available in electronic format on the website of the Irish Ministry of Finance here: https://assets.gov.ie/6476/03d7a81a4cf64b91913bb130ceda5162.pdf