The Korean National Tax Service (NTS) has revealed that it will host a meeting of officials from 15 Asian countries and the OECD about how to solve problems the countries face in implementing stringent transfer pricing rules.

The forum is titled "Study Group on Asian Tax Administration and Research (SGATA) Working Level Meeting.’’

The forum is an annual conference for 16 members of the Asia-Pacific region. All of the members, including China, Japan and New Zealand, will take part in the meeting except Australia, which will miss the conference due to “ internal problems.’’

Korea is hosting the meeting for the first time. Thirty five officials from all over the region will share their experiences and policies on transfer pricing.

Transfer pricing continues to concern tax authorities in the region who fear that multinational entities may set transfer prices on cross-border transactions to reduce taxable profits in their jurisdiction. This has led to the rise of regulations and enforcement, making transfer pricing a major tax compliance issue for multinational companies.

The NTS, headed by commissioner Baek Yong-ho, said officials will talk about various strategies on ways to impose proper taxation.