Transfer pricing: operational guidance: governance: what types of enquiry are within the governance?
What is covered - and what is not
The transfer pricing governance (see INTM481030) applies from 1 April 2008 to any enquiry or potential enquiry where TIOPA10/Part 4 (formerly ICTA88/SCH28AA) or the arm’s length principle may be invoked, so it covers
- transfer pricing of goods and services
- post-return thin capitalisation
- private equity leveraged buy-outs
- attribution of profit to permanent establishments (but not the question of whether a permanent establishment exists)
- Advance Thin Capitalisation Agreements
The transfer pricing governance does not apply to
- Advance Pricing Agreements
- Mutual Agreement Procedure/Competent Authority work
- Petroleum Revenue Tax issues
despite the fact that Transfer Pricing Group (TPG) resource is sometimes used in this work. These areas are subject to their own separate governance.