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IFC to help East Asia & Pacific tone up their taxation systems
By TII News Service
Sep 09, 2014 , Washington

    
INTERNATIONAL Finance Corporation (IFC) has conceived a project to advice countries in East Asia and Pacific (EAP) region improve their taxation governance.

The project/program named EAP Tax Transparency Program will assist countries in the region to improve or put in place taxation regulation and administration to respond to problems of abusive transfer pricing and related issues while increasing certainty and avoiding an excessive compliance burden for taxpayers.

According to an IFC disclosure, "The program will engage with regional bodies to promote harmonisation of transfer pricing regulation across the region and promote sharing of resources and expertise among tax authorities in relation to transfer pricing and associated issues."

It says: "The program is expected to result in the implementation of new laws, supporting regulations and administrative procedures relating to transfer pricing and associated issues, developed in accordance with best practice. This is expected to lead to increases in taxation revenue as the result of transfer pricing audits undertaken by tax authorities in the countries in which the program is implemented."

 
 
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