From Australia to the USA, this is your guide to recent developments around the world
Statutory rules on Transfer Pricing (TP) are included in Article 9 and Article 110 of the Italian Income Tax Code (ITC). In particular Article 110 (7) states that income which an Italian enterprise derives from operations with non-resident corporations which directly or indirectly control the enterprise or are controlled by the enterprise or are under common control have to be valued on the basis of the ‘normal value’ of the goods or services if an increase in taxable income derives therefrom. The ‘normal value’ is defined in Article 9(3) of ITC and resembles very closely the OECD's arm's length principle.
To help in the interpretation and application of the statutory rules two Circular Letters were issued by Italian Tax Authorities in 1980 and 1981 based on the OECD 1979 Guidelines ...
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From Australia to the USA, this is your guide to recent developments around the world
Statutory rules on Transfer Pricing (TP) are included in Article 9 and Article 110 of the Italian Income Tax Code (ITC). In particular Article 110 (7) states that income which an Italian enterprise derives from operations with non-resident corporations which directly or indirectly control the enterprise or are controlled by the enterprise or are under common control have to be valued on the basis of the ‘normal value’ of the goods or services if an increase in taxable income derives therefrom. The ‘normal value’ is defined in Article 9(3) of ITC and resembles very closely the OECD's arm's length principle.
To help in the interpretation and application of the statutory rules two Circular Letters were issued by Italian Tax Authorities in 1980 and 1981 based on the OECD 1979 Guidelines ...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
