Common mistakes transfer pricing advisers make when dealing with the authorities
February 16, 2012
Sophie Ashley
Your transfer pricing advisers provide the local link between your company and the tax officials working in every operational jurisdiction. An Italian revenue official explains the common mistakes advisers can make and how communications can be improved.
In 2010, Italy introduced new legislation stating that taxpayers are not subject to mandatory documentation requirements, but they can avoid tax penalties, after transfer pricing investigations, by confirming to the tax authorities the existence of documentation within a prescribed deadline and by being able to support arm's-length policies with adequate documentation when called upon to do so in a tax audit.
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