TPG2022 Annex to OECD Transfer Pricing Guidelines paragraph 1

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Category: OECD Transfer Pricing Guidelines (2022), TPG2022 Annex to the OECD TPG – Monitoring procedures and involvement of business | Tag:
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In July 1995, the OECD Council approved for publication the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (“the Guidelines”), submitted by the Committee on Fiscal Affairs (“the Committee”). At the same time, the OECD Council endorsed the Committee’s recommendation that the Guidelines be reviewed and up-dated periodically as appropriate based upon the experience of member countries and the business community with the application of the principles and methods set forth in the Guidelines. For this purpose, and to facilitate on-going clarifications and improvements, the OECD Council instructed the Committee to undertake a period of monitoring international transfer pricing experience. The monitoring role is seen as an integrated part of the agreement reached in July 1995 and its successful implementation is a key feature to getting a consistent application of the Guidelines. The Council Recommendation “instructs the Committee on Fiscal Affairs to monitor the implementation of the 1995 Report in cooperation with the tax authorities of member countries and with the participation of the business community and to recommend to the Council to amend and update, if necessary, the 1995 Report in the light of this monitoring”.

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