December 31, 2008 “A Mining S.A.” sold a mine wash plant to Company B, with which it was associated until December 23, 2008. The sale of the plant was negotiated in parallel with various share acquisition negotiations, etc. The tax authorities considered the sale of the wash plant to be a controlled transaction because the agreement was negotiated while the parties were still related. On this basis, the agreed price for the washing plant was adjusted based on the CUP method in accordance with Portuguese arm’s length rules. The resulting assessment issued by the tax authorities was later confirmed by the Administrative Court. “A Mining S.A.” then appealed to the Supreme Administrative Court. Judgment The Supreme Administrative Court ruled in favor of “A Mining S.A.”, overturning the decision of the Administrative Court and annulling the assessment issued by the tax authorities. Excerpt in English “We therefore don’t see how we can maintain, as the Public Prosecutor’s Office before this Supreme ... Read more

The Platform for Collaboration on Tax (IMF, OECD, UN and the WBG) has published a toolkit for addressing difficulties in accessing comparables Data for Transfer Pricing Analyses. The Toolkit Includes a supplementary report on addressing the information gaps on prices of Minerals Sold in an intermediate form ... Read more