IN response to the OECD's July call for comments on the 'Transfer Pricing Aspects of Intangibles' to be undertaken in 2011 by a Committee, the Paris-based organisation has received 50 contributions from across the world.

The Committee yesterday met the commentators from the private sector to discuss the comments received and the scoping of this project. In her opening remarks, the Chair indicated that this new OECD project would be carried out by a Special Session on the Transfer Pricing Aspects of Intangibles, open to all interested member countries and non member country observers and set up for this particular work. This would be a process similar to the one used for completing its business restructuring project and its review of comparability and profit methods, which resulted in 2010 changes to the OECD’s Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations.

The Chair highlighted the critical importance for the OECD of carefully scoping this project to ensure that efforts are focused on the most important issues and the ones on which progress can be made towards better guidance. The overarching goal is to provide more clarity and certainty for taxpayers and governments and greater international consensus, thus minimising the risks of double taxation.