OECD Outlines Document Needs for Tax Risk Assessment Program

The OECD provided a new checklist of documents multinational companies must provide for a risk assessment program that helps them avoid transfer pricing disputes.

Firms applying for the OCED’s International Compliance Assurance Program (ICAP) will need to provide documents such as consolidated financial statements for the period, unaudited statements if the audited accounts aren’t ready, and the tax strategy of the multinational group, according to the checklist released Tuesday.

The ICAP program allows companies to discuss transfer pricing positions with tax administrations to obtain more certainty. Transfer pricing relates to transactions between related companies that are part of multinational ...