Batanayi Katongera (in-house specialist) and Sarah Bond (Freshfields Bruckhaus Deringer) discuss whether the UK terms should be given the broader meaning of the OECD concepts in order to bring greater clarity and reduce the risk of double taxation.
Batanayi: A question for you Sarah. Thinking about the Upper Tribunal (UT) decision in HMRC v BlackRock HoldCo 5 LLC [2022] UKUT 199 (TC) insofar as that relates to transfer pricing is a provision the same thing as a condition? I think they are distinctly different.
Sarah: Before getting into BlackRock let’s set the scene. TIOPA 2010 s 147 the UK’s key transfer pricing rule focuses on the existence of a ‘provision’. It applies if:
‘[a] provision (“the actual provision”) has been made or imposed as between any two persons (‘the affected persons’) by means of a transaction or series of transactions’ (s 147(1)(a))
in...
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Batanayi Katongera (in-house specialist) and Sarah Bond (Freshfields Bruckhaus Deringer) discuss whether the UK terms should be given the broader meaning of the OECD concepts in order to bring greater clarity and reduce the risk of double taxation.
Batanayi: A question for you Sarah. Thinking about the Upper Tribunal (UT) decision in HMRC v BlackRock HoldCo 5 LLC [2022] UKUT 199 (TC) insofar as that relates to transfer pricing is a provision the same thing as a condition? I think they are distinctly different.
Sarah: Before getting into BlackRock let’s set the scene. TIOPA 2010 s 147 the UK’s key transfer pricing rule focuses on the existence of a ‘provision’. It applies if:
‘[a] provision (“the actual provision”) has been made or imposed as between any two persons (‘the affected persons’) by means of a transaction or series of transactions’ (s 147(1)(a))
in...
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