Parliament approved amendments to legislation on transfer pricing
Astana. June 4. Kazakhstan Today - Today at the plenary session Majilis deputies agreed with amendments of the Senate to the bill on transfer pricing, the agency reports. As it was informed earlier, the bill is developed with objective of improvement of administration of transfer pricing and ensuring consistency with the international principles of control, recommended by the Organization of Economic Cooperation and Development. The bill introduces the principle of "the extended hand", applied for defining of market price by comparison of conditions of transactions between interdependent entities and independent parties. Control over participants of transactions registered in the state with preferential taxation has been strengthened in order to eliminate the facts of tax evasion.
Resourse: Kazakhstan Today