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13.4. Transfer Pricing

There are no specific transfer pricing rules in Saint Lucia.

However, the tax laws of Saint Lucia provide that the transactions between related parties are required to be at arm’s length. Accordingly, if there is a deviation in the transaction values with related parties as compared to the market value, the tax authorities are empowered to adjust the taxable income or disallow an expense or assess an additional income of the taxpayers.

Country-by-Country (CbC) Reporting

Saint Lucia has not yet introduced a Country-by-Country reporting requirement. However, it has recently joined the OECD's Inclusive Framework, membership of which presupposes a commitment to implement the BEPS minimum standards, including Country-by-Country reporting.

On 1 March 2017, the OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters as amended by the 2010 protocol entered into force for Saint Lucia. The Convention generally applies in Saint Lucia from 1 January 2018, subject to certain exceptions.