Transfer pricing regulation in Iceland compared to OECD countries
Ólafur Evert Úlfsson discusses transfer pricing rules in Iceland in Viðskiptablaðið this week and raises the question of whether Iceland’s transfer pricing rules are becoming too complex for the system intended to enforce them. Recent court rulings, in particular the recent Rio Tinto judgments, suggest that both taxpayers and tax authorities are struggling to navigate a framework that is still relatively new in the country. In the article, Ólafur also discusses documentation requirement, the powers of the tax authorities, and whether Iceland is drifting away from accepted OECD practice, and what significance that could have for Icelandic businesses.
The full article is available on Vidskiptabladid's website (in Icelandic only).
Ólafur Evert Úlfsson discusses transfer pricing rules in Iceland in Viðskiptablaðið this week and raises the question of whether Iceland’s transfer pricing rules are becoming too complex for the system intended to enforce them. Recent court rulings, in particular the recent Rio Tinto judgments, suggest that both taxpayers and tax authorities are struggling to navigate a framework that is still relatively new in the country. In the article, Ólafur also discusses documentation requirement, the powers of the tax authorities, and whether Iceland is drifting away from accepted OECD practice, and what significance that could have for Icelandic businesses.
The full article is available on Vidskiptabladid's website (in Icelandic only).
Ólafur Evert Úlfsson discusses transfer pricing rules in Iceland in Viðskiptablaðið this week and raises the question of whether Iceland’s transfer pricing rules are becoming too complex for the system intended to enforce them. Recent court rulings, in particular the recent Rio Tinto judgments, suggest that both taxpayers and tax authorities are struggling to navigate a framework that is still relatively new in the country. In the article, Ólafur also discusses documentation requirement, the powers of the tax authorities, and whether Iceland is drifting away from accepted OECD practice, and what significance that could have for Icelandic businesses.
The full article is available on Vidskiptabladid's website (in Icelandic only).