If your company does business in the United Kingdom (UK) and is part of a multinational group, it’s time to review your UK transfer pricing documentation in light of new regulations. Following the enactment of the Spring Finance Bill 2023, and the publication of The Transfer Pricing Records Regulations 2023 in July 2023, the UK implemented mandatory transfer pricing documentation requirements. The new requirements are aligned to the Organisation for Economic Co-operation and Development (OECD) model for documentation, developed under Base Erosion Profit Shifting (“BEPS”) Action 13. Read more.
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