Tax Analysts Releases Exclusive Article Examining Privately Circulated OECD Document

FALLS CHURCH, Va., May 29, 2014 (GLOBE NEWSWIRE) -- Tax Analysts, the nonprofit, independent provider of federal, state, and international tax news and analysis, today released an exclusive article examining the OECD's confidential copies of a revised draft on transfer pricing that have been released only to select stakeholders.

The article, written by legal reporter Margaret Burow, describes some of the more substantive revisions to the discussion draft. It details 10 updates, including those on objectives, country-by-country reporting, and implementation. The article also notes that although the revised draft was not officially released to the public, it was unofficially released to some stakeholders other than working party members and official consultative members ahead of the May 19 public consultation on transfer pricing documentation and country-by-country reporting.

Tax Analysts obtained a copy of the document, titled "Revised Draft Revision of Chapter V of the Transfer Pricing Guidelines," that is dated April 18 and marked confidential. It reflects the discussions held during the public consultation and Working Party No. 6 meeting in March 2014, as well as comments received in response to the January 30 discussion draft.

"The number and identity of those stakeholders are largely unknown," Burow writes, "but some of them may have received copies directly from Joseph Andrus, head of the OECD's transfer pricing unit. Andrus told recipients that they could share the revised draft with other select stakeholders but that they could not publish the document. Sources told Tax Analysts that the draft was released to improve the dialogue at the May 19 consultation."

As part of its public education mission, Tax Analysts seeks to establish transparency in the tax laws and more dialogue between tax authorities and taxpayers. Through these and other efforts, Tax Analysts works to ensure that the tax laws are applied fairly and equally to taxpayers across the country.

Read the article at TaxAnalysts.com.

For more information or to speak with Burow, please contact Shaima Cardillo at 703-531-4852 or shaima_cardillo@tax.org, or Shannon David at 703-531-4835 or Shannon_david@tax.org.

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