【特别提醒】联合国发布2021年版《发展中国家转让定价操作手册》（第三版）

李威03

【特别提醒】联合国发布2021年版《发展中国家转让定价操作手册》（第三版）
在联合国2017年4月7日发布2017年版《发展中国家转让定价操作手册》（第二版）整整4年后，2021年4月27日，联合国在借鉴第一版(2013)和第二版(2017）的经验并同时反映近年来转让定价分析和管理领域最新发展的基础上，更新发布了2021年版《发展中国家转让定价操作手册》（第三版，以下简称“手册”）。2021年版《手册》新增了金融交易、集中采购职能和国别实践等内容；同时还更新了关于利润分割法和可比性问题的操作指南，并进行了其他一些内容的修订和结构调整。
这本678页的《手册》旨在帮助发展中国家的决策者和税务部门解决复杂的转让定价问题，以避免双重征税和解决争端。该《手册》由联合国小组委员会起草，其成员包括来自政府部门的税务和政策官员以及私营部门、学术界和非政府组织的代表。
为提高2021年版《手册》（第三版）的可读性，第三版《手册》引入了一种新的四位数段落编号系统，但仍然沿用了以前两个版本的四部分字母布局（例如“A部分”等）以标识《手册》的各部分，然而不再用于段落编号。
A部分：概述了跨国企业及其运作和结构、价值链分析以及跨国企业转让定价功能管理等。
B部分：阐述了独立交易原则、可比性分析、转让定价方法、集团内劳务、无形资产的转让定价考虑、成本分摊协议、企业重组的转让定价问题，并新增了集团内金融交易。
新增的集团内金融交易包含在《手册》B部分第9章中，新的章节包括关于集团内金融交易的常见类型、国家税收政策如何影响跨国企业融资决策以及独立交易原则在集团内贷款中的应用等金融交易安排的转让定价问题。
B部分还包括第5.6节至第5.14节中关于集中采购职能的新增内容。该《手册》解释说，大多数跨国公司经营某种形式的集中采购职能，但其基本活动及其经济实质可能存在很大差异。该《手册》旨在帮助发展中国家确定实质性安排相对于缺乏经济实质的安排的特点。
C部分：着重于转让定价立法设计和实施、文档要求、风险评估、审计和解决争端等。
D部分：着眼于选定发展中国家的国家做法。与2017年版一样，2021年版也包含了巴西、中国、印度、墨西哥和南非等主要新兴市场国家的章节，而且还新增了肯尼亚的国家实践概况。此外需要特别关注是中国实践的内容做了大幅度增加，从2017年第二版的4节内容增加到了25节。
  
《手册》目录如下，需要《手册》（英文版）的同学们麻烦点击”阅读原文“或加入知识星球”国际税收学习圈“下载。
Contents
Foreword to the Third Edition (2021) iii
Foreword to the Second Edition (2017) vii
Foreword to the First Edition (2013) xi
Glossary xxxv
  
Part A Transfer Pricing in A Global Environment 1
1 Multinational Enterprises 1
1.1 Introduction 1
1.2 Development of Multinational Enterprises 2
1.3 Corporate Structures of MNEs 6
1.3.1 General Principles of Company Law 6
1.3.2 Management and Organizational Structures 8
1.3.3 Value Chain Analysis 12
1.4 Managing the Transfer Pricing Function in a Multinational Enterprise 24
  
Part B Design Principles and Policy Considerations 29
2 Introduction to Transfer Pricing 29
2.1 What is Transfer Pricing? 29
2.1.1 General 29
2.1.2 Examples 30
2.1.3 Summary of transfer pricing concept 32
2.2 Basic Issues Underlying Transfer Pricing 32
2.3 Evolution of Transfer Pricing 35
2.4 The Arm’s Length Principle in Transfer Pricing 37
2.4.1 Legal basis of the Arm’s Length Principle 37
2.4.2 Application of the Arms Length Principle 39
2.5Transfer Pricing as a Current and Future Issue 41
2.5.1 General issues with transfer pricing 41
2.5.2 Transfer pricing and developing countries 42
2.5.3 Lack of comparables 42
2.5.4 Lack of experience and requisite skill sets 43
2.5.5 Treatment of MNE Group Synergies 43
2.5.6 Complexity 46
2.5.7 Impact of the digitalization of the economy 46
  
3 Comparability Analysis 49
3.1 Rationale for comparability analysis 49
3.2 Comparability analysis process 51
3.3 Analysis of Economically Significant Characteristics and Controlled Transactions53
3.3.1 Gathering of basic information about the taxpayer 53
3.3.2 Identify the accurately delineated transaction 53
3.3.3 Evaluation of separate and combined transactions 54
3.4 Examination of Comparability Factors of the Controlled Transaction 56
3.4.1 Overview 56
3.4.2 Characteristics of the property or service transferred 56
3.4.3 Contractual terms of transaction 57
3.4.4 Functional analysis 58
3.4.5 Economic circumstances of the transaction 83
3.4.6 Business strategies 88
3.5 Further steps in Comparability analysis 90
3.5.1 Selection of the Tested Party 90
3.5.2 Identification of potentially comparable transactions or companies 91
3.5.3 Adjustments to comparables 105
3.5.4 Selection of the most appropriate transfer pricing method 112
3.5.5 Interpreting the data to determine the arm’s length price or range 112
3.5.6 Analyzing Comparability Data and Determining an Arm’s Length Price 113
3.6 Further issues regarding comparability analysis 113
3.6.1 General 113
3.6.2 Timing Issues 113
3.6.3 Lack of Reliable Comparables 115
3.6.4 “Cherry-picking” of Comparables / Losses 116
3.6.5 Intentional Set-offs 117
3.6.6 Use of Customs Valuations 117
3.6.7 Use of Secret Comparables 120
3.6.8 Overall Process Complexity 121
3.7 Conclusion 121
  
4 Methods 123
4.1 Introduction to Transfer Pricing Methods 123
4.1.2 Selection of Methods (How, Why and Use of Methods) 123
4.1.3 Choice of Available Methods 127
4.2 Traditional Transaction Methods: Comparable
Uncontrolled Price (CUP) 128
4.2.1 Introduction to CUP 128
4.2.2 Comparability in Application of the CUP Method 129
4.2.3 Strengths and Weaknesses of the CUP Method 132
4.2.4 When to Use the CUP Method 133
4.2.5 Case Examples of Use of the CUP Method 134
4.3 Traditional Transaction Methods: Resale Price Method (RPM) 135
4.3.1 Introduction to RPM 135
4.3.2 Arm’s Length Gross Profit Margin 137
4.3.3 Transactional Comparison Versus Functional Comparison 138
4.3.4 Comparability in Applying the Resale Price Method 139
4.3.5 Strengths and Weaknesses of the Resale Price Method 141
4.3.6 When to Use the Resale Price Method 142
4.3.7 Case Examples of the Resale Price Method 143
4.4 Traditional Transaction Methods: Cost Plus Method 146
4.4.1 Introduction to Cost Plus Method 146
4.4.2 Mechanism of the Cost Plus Method 148
4.4.3 Arm’s Length Gross Profit Mark-up for Cost Plus Method 148
4.4.4 Transactional Comparison Versus Functional Comparison 149
4.4.5 Comparability 150
4.4.6 Determination of Costs 151
4.4.7 Strengths and Weaknesses of the Cost Plus Method 152
4.4.8 When to Use the Cost Plus Method 153
4.4.9 Case Examples of Cost Plus Method 154
4.5 Transactional Profit Methods: Transactional Net Margin Method (TNMM) 155
4.5.1 Introduction 155
4.5.2 Transactional Net Margin Method 156
4.5.3 Definition and Choice of Tested Party 157
4.5.4 Mechanism of the Transactional Net Margin Method 159
4.5.5 Examples 161
4.5.6 Arm’s Length Net Profit Margin 167
4.5.7 Transactional Comparison Versus Functional Comparison 170
4.5.8 Comparability 171
4.5.9 Other Guidance for Application of the TNNM 172
4.5.10 Strengths and Weaknesses of the TNMM 174
4.5.11 When to Use the Transactional Net Margin Method 175
4.6 Transactional profit methods: Profit Split Method (PSM) 177
4.6.1 Introduction to PSM 177
4.6.2 Strengths and Weaknesses of the Profit Split Method 178
4.6.3 When to Use the Profit Split Method 179
4.6.4 How to apply the profit split method 188
4.6.5 Determining the profits to be split 193
4.7 The “Sixth method” or “Commodity rule” 199
4.7.1 Introduction 199
4.7.2 Practical Operation of the Sixth Method 201
4.7.3 OECD Guidance 205
4.7.4 CIAT Guidance 207
4.7.5 Considerations for use of the sixth method 209
  
5 Intragroup Services 213
5.1 Introduction 213
5.2 Analysis of Intragroup Services 215
5.2.1 Types of intragroup services 215
5.2.2 The benefit test 215
5.2.3 Service activities for the specific needs of an associated enterprise 217
5.2.4 Centralized services 217
5.2.5 On-call services 221
5.2.6 Non-chargeable activities 222
5.3 Determining an Arm’s Length Charge 230
5.3.1 Functional analysis 230
5.3.2 Charging approaches 232
5.3.3 Provision of assets and ancillary services 233
5.4 Calculating Arm’s Length Consideration 234
5.4.1 Introduction 234
5.4.2 Comparable Uncontrolled Price Method (CUP) 235
5.4.3 Cost Plus Method 237
5.4.4 Total service costs: direct and indirect costs 238
5.4.5 Transactional Net Margin Method (TNMM) 238
5.4.6 Profit Split Method 240
5.4.7 Pass-through costs 241
5.4.8 Allocation keys 242
5.5 Safe Harbours 245
5.5.1 Introduction 245
5.5.2 Low value-adding services safe harbour 246
5.5.3 Minor expense safe harbour 248
5.6 Group Procurement Activities: An Illustration of the Operation of the Rules on Services 251
5.7 Cost-savings issues arising from centralized procurement functions 252
5.8 Commercial objectives in centralizing procurement functions 253
5.9 Evaluating compensation for procurement activities 255
5.10 The role and expertise of the procurement services provider 255
5.11 The nature of the items procured and the commercial risks associated with those items 257
5.12 Risks assumed by the group procurement company 258
5.13 Procurement from associated enterprises 260
5.14 Pricing methods 260
5.14.1 Overview 260
5.14.2 Example of a centralized procurement activity 262
5.14.3 Application and interpretation of CUP method with example 264
5.14.4 Extended example 269
Annex 1: Example list of low value-adding services 272
  
6 Transfer Pricing Considerations for Intangibles 275
6.1 Introduction 275
6.2 Identifying Intangibles 276
6.2.1 Definition of intangibles 276
6.2.2 Classification of intangibles 277
6.2.3 Trade intangibles 279
6.2.4 Marketing intangibles 279
6.2.5 Other aspects of identifying intangibles 281
6.3 Ownership of Intangibles and Transactions Involving Intangibles 286
6.3.1 Analytical framework for the use or transfer of intangibles 286
6.3.2 Legal ownership and contractual terms 288
6.3.3 The significance of DAEMPE 290
6.3.4 Functions, assets and risks contributing to DAEMPE 291
6.3.5 Risks 293
6.3.6 Assets 294
6.3.7 “Ex ante” and “ex post” returns 295
6.3.8 Return to funding and associated financial risk 297
6.3.9 Practical guidance for fact-finding in transactions involving intangibles 298
6.4 Comparability 299
6.5 Selection of the Most Appropriate Transfer Pricing Method 299
6.5.1 General 299
6.5.2 CUP Method: acquisition price method in the case of transactions involving sales of intangibles 300
6.5.3 Cost-based methods to value transfers of intangibles 302
6.5.4 Valuation techniques to value transfer of intangibles (“Discounted cash flow approach ”) 302
  
7 Cost Contribution Arrangements 315
7.1 Introduction 315
7.2 CCA Features 317
7.3 Participation in a CCA 318
7.4 Valuing CCA Contributions 319
7.5 Predicting Expected Benefits 321
7.6 Non-arm’s Length CCAs 323
7.6.1 General 323
7.6.2 Balancing payments 324
7.6.3 Disregarding the CCA terms 325
7.7 CCA Entry, Withdrawal and Termination 325
7.7.1 General 325
7.7.2 “Buy-in” payments 325
7.7.3 “Buy-out” amounts 326
7.7.4 Termination of a CCA 326
7.8 General CCA Requirements 327
  
8 Transfer Pricing Aspects of Business Restructurings 333
8.1 Setting the framework and definition issues 333
8.1.1 General 333
8.1.2 Business restructurings: considerations regarding developing countries 334
8.1.3 Process for setting or testing the arm’s length principle in a business restructuring 335
8.2 Types of Business Restructurings 338
8.2.1 General 338
8.2.2 Transfer of functions and risks arising from business restructurings 339
8.2.3 Termination or substantial renegotiation of existing arrangements 340
8.2.4 Example: Operational Considerations on the Transfer Pricing Aspects of a Business Restructuring 341
8.3 Model approach for auditing business restructuring issues 343
  
9 Intragroup Financial Transactions................347
9.1 Financing arrangements within MNEs 347
9.2 Corporate financing decisions 349
9.3 Common types of intragroup financial transactions 349
9.4 Common types of group financing departments / entities 352
9.5 Corporate income tax approaches addressing MNE financing decisions 353
9.6 The application of the arm’s length principle to financial transactions (in general) 355
9.7 The arm’s length nature of intragroup financial transactions 355
9.7.1 General 355
9.7.2 Economically significant characteristics of financial transactions 357
9.8 Considering the creditworthiness of associated enterprises 365
9.9 Considering the risks embedded in the financial instrument 371
9.10 Potential Transfer Pricing Methods 372
9.11 The Use of Simplification Measures and Safe Harbours 373
9.12 The application of the arm’s length principle to intragroup loans 374
9.12.1 Different types of intragroup loans and relevant characteristics to consider 374
9.12.2 Determining the arm’s length nature of intragroup loans 376
9.12.3 Interplay between intragroup loans and other intragroup transactions 382
9.13 The application of the arm’s length principle to intragroup financial guarantees 385
9.13.1 Different types of intragroup financial guarantees and relevant characteristics to consider 385
9.13.2 Determining the arm’s length nature of intragroup financial guarantees 387
  
Part C Transfer Pricing Legislation Design and Practical Implementation of a Transfer Pricing Regime 395
10 General Legal Environment for Establishing and Updating Transfer Pricing Regimes 395
10.1 Introduction 395
10.1.1 Historical development of transfer pricing rules 395
10.1.2 Key Considerations in the Design of a Transfer Pricing Regime 396
10.1.3 Domestic Transfer Pricing Legislation: Structural Overview 397
10.1.4 Key Considerations in the Design of a Transfer Pricing Regime 398
10.1.5 Associated Enterprises 400
10.1.6 Coverage of Transactions, Availability/Priority of Transfer Pricing Methods and Compliance 402
10.1.7 Insufficient Information 403
10.1.8 Burden of Proof 404
10.1.9 Presumptive Taxation Approaches and the Arm’s Length Principle 407
10.1.10 Transfer Pricing Information Requirements 407
10.1.11 Balance to be Struck between Statute and Subsidiary Regulations 408
10.2 Transfer Pricing Rules in National Tax Regimes 409
10.2.1 Domestic Rules 409
10.2.2 Safe Harbour Rules 411
10.2.3 Safe Harbour Practical Issues 414
10.2.4 Downwards Adjustments 415
10.2.5 Advance Pricing Agreements/Arrangements (APAs) 416
10.2.6 Interaction of Transfer Pricing Provisions with Domestic Tax Rules 418
10.3 Keeping Transfer Pricing Regimes Updated 418
10.3.1 Gathering Information 418
10.3.2 Examples of Measures to Update Transfer Pricing Regimes 421
  
11 Establishing Transfer Pricing Capability in Developing Countries 423
11.1 Introduction 423
11.2 Relationship between Tax Policy and Tax Administration 423
11.3 Assessing Current Capabilities and Gaps to be Filled 425
11.4 Developing the Mission, Vision and Culture of the Transfer Pricing Unit 427
11.4.1 Objectives 427
11.4.2 Client/Taxpayer Orientation 428
11.4.3 The Enforcement Approach: A Risk-Based Approach to Compliance 430
11.5 Organizational Structure for the Transfer Pricing Unit 431
11.5.1 Introduction 431
11.5.2 Establishing Transfer Pricing Capability: Possible Structures 433
11.6 Building Team Capability 436
11.6.1 General Human Resource Management Issues 436
11.6.2 Competences/Skill Sets Needed by the Unit: Putting Together the Best Team 439
11.6.3 Training 443
11.6.4 Research Materials/Databases 445
11.6.5 Information Strategies 446
11.7 Effective and Efficient Business Processes 447
11.8 Application of the above considerations in implementation 448
11.9 Assessing Effectiveness and Fine Tuning 450
11.10 Country Examples of Capacity-Building in Transfer Pricing 451
  
12 Documentation 455
12.1 Introduction 455
12.2 International Guidelines on Transfer Pricing Documentation 456
12.2.1 OECD/G20 Transfer Pricing Documentation Standard 456
12.2.2 Implementation of Global Documentation Standards in Developing Countries 464
12.3 Experiences of MNEs with International Guidelines on Documentation 466
12.4 Practical Guidance on Documentation Rules and Procedures 467
12.4.1 Burden of Proof 467
12.4.2 Time Frame to Produce Transfer Pricing Documentation 468
12.4.3 Penalties 470
12.4.4 Special Considerations for Small and Medium-sized Enterprises 471
12.4.5 Language to be Used for Transfer Pricing Documentation 472
  
13 Risk Assessment 473
13.1 Introduction 473
13.2 Selection of Taxpayers for Transfer Pricing Examination:
Risk Assessment 474
13.2.1 General principles in risk assessment 474
13.2.2 Categories and Identification of Risk 476
13.2.3 Possible Approaches in Risk Assessments 480
13.2.4 Sources of Information for Risk Assessment 481
13.2.5 Risk Factors 483
13.2.6 The Risk Assessment Process 483
13.2.7 Risk Assessment Tools 484
13.2.8 Risk Assessment Findings 485
  
14 Transfer Pricing Audits 487
14.1 Planning a Transfer Pricing Examination 487
14.1.1 Overview 487
14.1.2 Formation of the Examination Team 487
14.1.3 Supervision of Examination 489
14.1.4 Issues for Examination/Examination Plan 489
14.1.5 Audit Timetable 490
14.1.6 Statute of Limitations as Provided for in the Domestic Law 490
14.1.7 Approvals and Sign-off 490
14.2 Preliminary Examination 491
14.2.1 Desk Audit 491
14.2.2 Understanding the Taxpayer’s Business 491
14.2.3 Understanding the Industry in which the Taxpayer Operates 493
14.2.4 Approval 494
14.3 Audit Procedure 494
14.3.1 Audit Approach 494
14.3.2 Notification to Taxpayer 494
14.3.3 Gathering of Information 495
14.3.4 Sources of Information 497
14.3.5 Language 497
14.3.6 Types of Information to be gathered 498
14.3.7 Points for Examination at the Initial Stage 499
14.3.8 Information Request / Supplemental Information 500
14.3.9 Request for Interviews 501
14.3.10 Request to Visit Facilities 502
14.3.11 Secret Comparables 502
14.3.12 Comparison Chart 503
14.4 Narrowing of Issues: Development of Tax Authority’s Position 503
14.4.1 Refining Understanding of the Taxpayer’s Business 503
14.4.2 Refining Understanding of the Taxpayer’s Industry 503
14.4.3 Refining Functional Analysis 505
14.4.4 Choice of Transfer Pricing Method 505
14.4.5 Examiners’ Interim Opinion or Preliminary Position Paper 505
14.4.6 Draft Proposed Adjustments 506
14.4.7 Formal Notification to Taxpayer of Proposed Adjustment 506
14.4.8 Issuance of Adjustment/Correction 506
14.4.9 Settlement Opportunities 506
14.5 Case Closure 507
14.6 Tax Audits and Dispute Resolution 509
  
15 Dispute Avoidance and Resolution 511
15.1 Introduction 511
15.2 Special Considerations for Developing Countries 511
15.3 Dispute Avoidance Procedures 512
15.3.1 Legislation and Guidance 512
15.3.2 Formalized processes and practices 514
15.3.3 Audit settlements 517
15.3.4 Advance Pricing Agreements/Arrangements 517
15.3.5 Developing and operating an APA programme 520
15.3.6 Joint audits 522
15.4 Domestic Dispute Resolution Procedures 522
15.4.1 Administrative appeals 522
15.4.2 Mediation/conciliation 523
15.4.3 Judicial system 523
15.5 Dispute Resolution Procedures: Tax Treaty Provisions 524
15.5.1 Division of taxing jurisdiction 524
15.5.2 The Mutual Agreement Procedure 524
15.5.3 Operational considerations for MAPs 526
15.5.4 MAP under the Inclusive Framework initiative 529
15.5.5 Arbitration 530
15.5.6 Non-binding dispute resolution procedures 533
15.6 Multilateral Approaches 533
15.7 Coordination of Domestic and Cross-Border Dispute Resolution Procedures 534
  
Part D Country PractIces 537
Preamble by the Subcommittee on Article 9 (Associated Enterprises): Transfer Pricing 537
1 Brazil—Country Practices 539
1.1 Introduction: General Explanation 539
1.2 Resale Price Method with Fixed Margins 540
Explanation of the methodology 540
Resale price (with manufacturing operation) 542
Fixed margins for the Resale Price Method (RSP) 544
1.3 Cost Plus Method with Fixed Margins 547
Fixed margins for the Cost Plus Method 548
1.4 Differences Between the Application of the Methods Regarding Import and Export Operations 549
1.5 Imports 550
1.6 Exports 550
1.7 Strengths and Weakness of the Brazilian Methods with
Predetermined Profit Margins 551
1.8 Other Explanations of the Brazilian Transfer Pricing Methodology 552
1.9 Comments for Countries Considering the Adoption of Fixed Margins 554
  
2 China—Country Practices 557
Transfer Pricing Opportunities and Challenges for Developing Countries in the Post-BEPS Era 557
2.1 Introduction 557
2.2 Part One: Recent Developments in China Transfer Pricing Practice 559
2.3 Domestic Legislation and Practical Guidance 560
2.4 Centralized Approval System to Assure Consistency and Standardization 561
2.5 Monitor Profits of MNEs in China 562
2.6 Intensify Audit Efforts 563
2.7 APA Programme and MAP Process 563
2.8 Expand Data Sources for Comparability Analysis 564
2.9 Enhance International Communication and Cooperation 564
2.10 Build a Professional Transfer Pricing Team 564
2.11 Part Two: China’s Transfer Pricing Regime 565
2.12 Related Party Filing 566
2.13 Related Party Relationships 566
2.14 Contemporaneous Transfer Pricing Documentation Requirements 567
2.15 Transfer Pricing Audits 568
2.16 Transfer Pricing Methods 569
2.17 APA Programme 569
2.18 MAP Process 570
2.19 Part Three: Challenges Facing China and Other Developing Countries 571
2.20 Major Challenges 571
Arm’s Length Principle 571
Lack of Reliable Comparables 572
Location Specific Advantages 573
Steps Calculations 576
2.21 Intangibles 577
2.22 Practical Issues and Solutions 578
2.23 Alternative Methods to the Traditional Transactional Net Margin Method 581
2.24 Other Experience and Recommendations 582
2.25 Conclusion 583
  
3 India—Country Practices 585
Transfer Pricing Practices and Challenges in India 585
3.1 Introduction 585
3.2 Transfer Pricing Regulations in India 585
3.3 Transfer Pricing Issues in India 587
3.3.1 Comparability Analysis 587
3.4 Issues relating to Risks 587
3.5 Arm’s Length Range 588
3.6 Comparability Adjustment 589
3.7 Secondary Adjustment 589
3.8 Location Savings 590
3.9 Issues related to cost base under TNMM 591
3.10 Intangibles 592
3.10.1 General 592
3.11 Intangibles generated through R&D activities 594
3.12 Marketing intangibles 595
3.13 Intragroup Services 600
3.14 Financial Transactions 602
3.15 Dispute Resolution 603
3.16 Advance Pricing Agreements (APAs) 605
3.17 Safe Harbour 606
3.18 The Base Erosion and Profit Shifting (BEPS) Final Reports on Actions 8 to 10 and 13 606
  
4 Mexico—Country Practices 609
4.1 Introduction 609
4.2 Related Party Definition 610
4.3 Deemed Related Party Definition 610
4.4 Specific Documentation Requirements 610
4.5 Comparability 613
4.6 Audit Procedure 615
4.7 Advance Pricing Agreements (APA) Procedures 617
4.8 Maquila Export Companies 617
4.9 Current Maquila Provisions 619
4.10 Competent Authority Procedure 620
4.11 Effective Implementation of the Arm’s Length Standard 620
4.12 Recent Developments 622
  
5 South Africa—Country Perspectives 625
5.1 Introduction 625
5.2 South African Transfer Pricing Landscape 625
5.3 Recent Developments 626
5.4 Legislative and Administrative Framework 626
5.5 Year-End Adjustments 632
5.6 Comparability 632
5.7 Intangibles 633
5.8 Intra Group Services 634
5.9 Dispute Resolution 635
5.10 Exchange of Information 636
5.11 Mutual Agreement Procedure (MAP) 637
5.12 Advance Pricing Agreements (APAs) 638
5.13 Conclusion 639
  
6 Kenya—Country Practices 641
Kenya’s Transfer Pricing Experience 641
6.1 Introduction 641
6.2 Transfer Pricing legislation in Kenya 641
6.3 Transfer Pricing developments 641
6.4 Embracing the G20/ OECD BEPS Project outcomes 642
6.5 Other developments and proposals 644
6.6 Tax administration for transfer pricing capacity development 644
6.7 International engagements 645
6.8 Conclusion 645
（THE END)
  
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