UK Income and Corporation Tax: update to definition of transfer pricing guidelines

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Source: HMRC Policy Paper 6 March 2018

The UK Treasury, in exercise of the powers conferred by section 164(4)(b) of the Taxation (International and Other Provisions) Act 2010, has made the Order to amend the definition of “transfer pricing guidelines” within s164(4)(a) to refer to the updated version of the OECD Guidelines published on 10 July 2017.

The change will have effect for corporation tax purposes in relation to accounting periods beginning on or after 1 April 2018 and for Income Tax purposes in relation to the tax year 2018 to 2019 and subsequent tax years.

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