Change is also significant in transfer pricing

The Base Erosion and Profit Shifting (BEPS) Project by the Organization of Economic Co-operation and Development (OECD) and (supported by) the G20 countries, aimed to address the discordant tax laws and rules among and between different jurisdictions/countries that make it possible for multinational group of companies to commit BEPS. After the issuance in October 2015 of the final reports on the BEPS Initiative, many might still be unaware that the final reports have significant impact on existing international guidelines on transfer pricing (TP).