EU TRANSFER PRICING – CODE OF CONDUCT – MULTINATIONAL ACCOUNTS
November 1st, 2005
BY KEITH NUTHALLTHE EUROPEAN Commission has proposed the creation of an official code of conduct for European Union (EU) for simplifying tax returns made by multinationals currently hamstrung by contrasting revenue collection rules.Brussels wants to help large companies present clear accounts covering activities in a number of countries, taking into account inter-group transfers of assets and funds. Under the code, multinational would have to file two sets of documents:*A so-called 'masterfile', that provides a cogent description of the company structure, its ...
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