PERU
Ecuador
Brazil
Peru
Law and Practice Contributed by: Tania Quispe, Raquel Cabrera, Ramzi Benzaquen and Jadhira Unda +Value
Lima
Bolivia
Contents 1. Rules Governing Transfer Pricing p.186 1.1 Statutes and Regulations p.186
9. Alignment With OECD Guidelines p.195 9.1 Alignment and Differences p.195 9.2 Arm’s Length Principle p.196 9.3 Impact of the Base Erosion and Profit Shifting (BEPS) Project p.196 9.4 Impact of BEPS 2.0 p.196 9.5 Pillar One Amount B p.196 9.6 Entities Bearing the Risk of Another Entity’s Operations p.196 9.7 Allocation of Profits to Permanent Establishments (PEs) p.197 10. Relevance of the United Nations Practical Manual on Transfer Pricing p.197 10.1 Impact of UN Practical Manual on Transfer Pricing p.197 11. Safe Harbours or Other Unique Rules p.197 11.1 Transfer Pricing Safe Harbours p.197 11.2 Rules on Savings Arising From Operating in the Jurisdiction p.197 11.3 Unique Transfer Pricing Rules or Practices p.197 11.4 Financial Transactions p.197 12. Co-Ordination With Customs Valuation p.197 12.1 Co-Ordination Requirements Between Transfer Pricing and Customs Valuation p.197 13. Controversy Process p.197 13.1 Options and Requirements in Transfer Pricing Controversies p.197 14. Judicial Precedent p.198 14.1 Judicial Precedent on Transfer Pricing p.198 14.2 Significant Court Rulings p.198 15. Foreign Payment Restrictions p.198 15.1 Restrictions on Outbound Payments Relating to Uncontrolled Transactions p.198 15.2 Restrictions on Outbound Payments Relating to Controlled Transactions p.198 15.3 Effects of Other Countries’ Legal Restrictions p.198 16. Transparency and Confidentiality p.199 16.1 Publication of Information on APAs or Transfer Pricing Audit Outcomes p.199 16.2 Use of “Secret Comparables” p.199
1.2 Current Regime and Recent Changes p.186 2. Definition of Control/Related Parties p.187 2.1 Application of Transfer Pricing Rules p.187 3. Methods and Method Selection and Application p.188 3.1 Transfer Pricing Methods p.188 3.2 Unspecified Methods p.188 3.3 Hierarchy of Methods p.189 3.4 Ranges and Statistical Measures p.189 3.5 Comparability Adjustments p.190 4. Intangibles p.190 4.1 Notable Rules p.190 4.2 Hard-to-Value Intangibles p.190 4.3 Cost Sharing/Cost Contribution Arrangements p.190 5. Adjustments p.191 5.1 Upward Transfer Pricing Adjustments p.191 5.2 Secondary Transfer Pricing Adjustments p.191 6. Cross-Border Information Sharing p.192 6.1 Sharing Taxpayer Information p.192 6.2 Joint Audits p.192 6.3 Simultaneous Controls p.192 6.4 International Compliance Assessment Programme (ICAP) p.192 7. Advance Pricing Agreements (APAs) p.192 7.1 Programmes Allowing for Rulings Regarding Transfer Pricing p.192 7.2 Administration of Programmes p.192 7.3 Co-Ordination Between the APA Process and Mutual Agreement Procedures p.193 7.4 Limits on Taxpayers/Transactions Eligible for an APA p.193 7.5 APA Application Deadlines p.193 7.6 APA User Fees p.193 7.7 Duration of APA Cover p.194 7.8 Retroactive Effect for APAs p.194 8. Penalties and Documentation p.194 8.1 Transfer Pricing Penalties and Defences p.194 8.2 Transfer Pricing Documentation p.194
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