Greece’s Tax Authority issues guidance on COVID-19 and Transfer Pricing

Executive summary

The Greek Independent Authority for Public Revenue (IAPR), following the relevant Organisation for Economic Co-operation and Development (OECD) Guidance,¹ has proceeded with the issuance of Circular E. 2054/10.03.2021 to provide guidance on the transfer pricing implications of the COVID-19 pandemic (the Guidance).

The Guidance addresses the four key issues analyzed in the OECD Guidelines, including:

• Comparability analysis

• Losses and the allocation of COVID-19 specific costs

• Gov…