RE: RE: Morning All21 Feb 2019 05:21
Scoop I read it yesterday it dates back to 2008
In its results statement on Wednesday, it said the British tax authorities “issued formal transfer pricing, permanent establishment and diverted profits tax assessments for the 2008 – 2017 tax years, amounting to $680 million”.
Transfer pricing happens when multinationals sell to their parent or subsidiaries abroad at lower prices, potentially avoiding taxes if they lead to the declaration of lower earnings or even losses.