Learn Transfer Pricing Regulations with Deloitte Ex-Partner Sanjay Kumar #Ep7

Learn Transfer Pricing Regulations with Deloitte Ex-Partner Sanjay Kumar #Ep7

This video is an interview with Sanjay Kumar, a transfer pricing expert who is a former partner at Deloitte and a former commissioner for transfer pricing. The interview discusses transfer pricing, which is the pricing of transactions between related parties.

Important points:

  • Transfer pricing is important for safeguarding tax revenue: It helps prevent multinational corporations from shifting profits to low-tax jurisdictions.
  • Transfer pricing regulations are based on OECD and UN guidelines: These guidelines provide a framework for countries to develop their own transfer pricing rules.
  • Key considerations for transfer pricing regulations:
    • Clear definition of related parties and transactions
    • Inclusion of all relevant transfer pricing methods
    • Detailed guidelines for comparability analysis
    • Dispute resolution mechanisms
    • Safe harbor rules and advance pricing agreements
  • Nepal’s transfer pricing regulations:
    • The current regulations need to be more comprehensive and detailed.
    • The act should clearly define related parties, transactions, and methods.
    • The rules should provide detailed guidance on comparability analysis and other relevant issues.
    • Dispute resolution mechanisms should be established to provide certainty to taxpayers.
  • Recommendations for Nepal:
    • Improve tax administration and create a comprehensive database.
    • Digitize tax administration procedures.
    • Establish effective dispute resolution mechanisms.
    • Prioritize debt and implement debt management strategies.
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