Hong Kong issues guidance but risks remain
June 03, 2009
The Hong Kong Inland Revenue Department has released a highly anticipated guidance document on transfer pricing and profit allocation. Travis Benjamin and Glenn DeSouza of Baker & McKenzie discuss the development.
Transfer pricing issues have, in recent years, gained increasing prominence in Hong Kong. This has highlighted the lack of suitable transfer pricing legislation or effective Hong Kong Inland Revenue Department (IRD) guidance, and the absence of generally accepted transfer pricing methodologies in Hong Kong. Fortunately, things are changing, but many transfer pricing risks remain.
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