The two and a-half days of open and candid discussions at the consultation focused on:
- Possible ways of simplifying transfer pricing compliance and enforcement, including the adoption of targeted safe harbour provisions; and
- Approaches to clarifying transfer pricing rules for transactions involving intangibles, including rules aimed at limiting the opportunities for using transfers of intangibles for tax advantage by attributing income to parties that only hold the legal title to the intangible, without economically contributing to its development or maintenance.
Ms. Michelle Levac, the Chair of Working Party No. 6 of the Committee on Fiscal Affairs, indicated that the goal of the Working Party is to address transfer pricing issues involving intangibles within the framework of the arm’s length principle and to provide clear guidance that reflects a consensus view among countries. She thanked all commentators and participants at the consultation for their valuable contributions. She indicated that the Working Party will consider the public comments received and the discussions at the consultation and will seek to release final guidance on safe harbour provisions and a revised discussion draft on intangibles in 2013.
The transfer pricing projects on intangibles and simplification are part of the broader OECD project on (BEPS).