The Taxation (International and Other Provisions) Act 2010 Transfer Pricing Guidelines Designation Order, SI 2022/1147, will update the definition of transfer pricing guidelines in TIOPA 2010 s 164 to refer to the 2022 OECD's transfer pricing guidelines. This Order comes into force on 1 January 2023.
This ensures domestic legislation aligns with the international consensus on the interpretation of the arm’s length principle: both to comply with its bilateral tax treaties, and to provide clarity for individual businesses.
The Taxation (International and Other Provisions) Act 2010 Transfer Pricing Guidelines Designation Order, SI 2022/1147, will update the definition of transfer pricing guidelines in TIOPA 2010 s 164 to refer to the 2022 OECD's transfer pricing guidelines. This Order comes into force on 1 January 2023.
This ensures domestic legislation aligns with the international consensus on the interpretation of the arm’s length principle: both to comply with its bilateral tax treaties, and to provide clarity for individual businesses.
