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Old 12th January 2020, 01:24 PM   #1
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Join Date: May 2010
Location: Detroit, MI
Posts: 1,374
Default What Do UKs New Transfer Pricing Rules Mean For SMEs?

SMEs have historically been exempted from UK transfer pricing rules. This years new rules have extended the rules to all UK businesses, including SMEs. What are the new rules, how do they work, and how can SMEs prepare for them?

In recent years, there have been major changes to UK tax legislation to ensure that large international businesses cannot take advantage of differences between domestic and international tax rules. Amazon is an obvious example were all familiar with.

As part of HMRCs ongoing efforts to close tax loop holes and ensure that taxpayers and businesses are declaring and paying the correct amount of tax, in April last year the government introduced new legislation governing anti-profit fragmentation.

The new rules are intended to deal with cross-border structures which result in a tax mismatch between jurisdictions in particular, where UK value or profit is transferred offshore or undervalued, leading to that value or profit being realised in a lower tax jurisdiction.

Read more - http://www.smallbizviewpoints.com/20...mean-for-smes/

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