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EU Joint Transfer Pricing Forum Considering Coordinated Implementation of BEPS Transfer Pricing Reporting Requirements in the EU — Orbitax Tax News & Alerts

According to recent reports, members of the EU Joint Transfer Pricing Forum have agreed to some level of coordination for the implementation in the EU of the new transfer pricing reporting guidelines developed under Action 13 of the OECD Base Erosion and Profit Shifting (BEPS) Project. The coordination was discussed during a 25 June 2015 Forum meeting, which focused mainly on the implementation of the country-by-country reporting requirements, although implementation of the master file and local file requirements was discussed as well. The Forum discussion follows a public consultation launched by the EU Commission on an EU-wide implementation of the Action 13 guidelines, which will end 13 September 2015 ({News-2015-06-19/A/2- previous coverage}).

EU countries that have already begun the process of implementing the new guidelines include Poland, Spain and the UK.