Transfer pricing and COVID-19: Arm’s length conditions in the new normal

Tim Keeling and Tony Gorgas outline recent guidance from the ATO, which is offered in response to COVID-19.

Changes being made to transfer pricing policies in a COVID-19 environment are coming under closer scrutiny by the Australian Taxation Office (ATO).The ATO released further guidance late last Friday on ‘COVID-19 economic impacts on transfer pricing arrangements’ and ‘Changing related party arrangements’.The fact that the ATO is providing guidance on ways to evidence the impact of COVID-19 is welcomed. The approach is also aligned with how the ATO’s advanced pricing arrangements (APA) unit is l...

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Authors: Tim Keeling, Tony Gorgas

Published Date: 23 June 2020