重磅！速速下载！联合国发布2021年版《发展中国家转让定价操作手册》（第三版）

在联合国2017年4月7日发布2017年版《发展中国家转让定价操作手册》（第二版）整整4年后，2021年4月27日，联合国在借鉴第一版(2013)和第二版(2017)的经验并同时反映近年来转让定价分析和管理领域最新发展的基础上，更新发布了2021年版《发展中国家转让定价操作手册》（第三版，以下简称“手册”）。

2021年版《手册》新增了金融交易、集中采购职能和国别实践等内容；同时还更新了关于利润分割法和可比性问题的操作指南，并进行了其他一些内容的修订和结构调整。

这本678页的《手册》旨在帮助发展中国家的决策者和税务部门解决复杂的转让定价问题，以避免双重征税和解决争端。该《手册》由联合国小组委员会起草，其成员包括来自政府部门的税务和政策官员以及私营部门、学术界和非政府组织的代表。

为提高2021年版《手册》（第三版）的可读性，第三版《手册》引入了一种新的四位数段落编号系统，但仍然沿用了以前两个版本的四部分字母布局（例如“A部分”等）以标识《手册》的各部分，然而不再用于段落编号。

A部分：概述了跨国企业及其运作和结构、价值链分析以及跨国企业转让定价功能管理等。

B部分：阐述了独立交易原则、可比性分析、转让定价方法、集团内劳务、无形资产的转让定价考虑、成本分摊协议、企业重组的转让定价问题，并新增了集团内金融交易。

新增的集团内金融交易包含在《手册》B部分第9章中，新的章节包括关于集团内金融交易的常见类型、国家税收政策如何影响跨国企业融资决策以及独立交易原则在集团内贷款中的应用等金融交易安排的转让定价问题。

B部分还包括第5.6节至第5.14节中关于集中采购职能的新增内容。该《手册》解释说，大多数跨国公司经营某种形式的集中采购职能，但其基本活动及其经济实质可能存在很大差异。该《手册》旨在帮助发展中国家确定实质性安排相对于缺乏经济实质的安排的特点。

C部分：着重于转让定价立法设计和实施、文档要求、风险评估、审计和解决争端等。

D部分：着眼于选定发展中国家的国家做法。与2017年版一样，2021年版也包含了巴西、中国、印度、墨西哥和南非等主要新兴市场国家的章节，而且还新增了肯尼亚的国家实践概况。此外需要特别关注是中国实践的内容做了大幅度增加，从2017年第二版的4节内容增加到了15节。

（来源：转让定价人）

《手册》目录如下，需要《手册》（英文版）的点击”阅读原文“进行下载。

Contents

Foreword to the Third Edition (2021)   iii

Foreword to the Second Edition (2017)   vii

Foreword to the First Edition (2013)   xi

Glossary   xxxv

Part A Transfer Pricing in A Global Environment  1

1 Multinational Enterprises  1

1.1 Introduction    1

1.2 Development of Multinational Enterprises  2

1.3 Corporate Structures of MNEs  6

1.3.1 General Principles of Company Law  6

1.3.2 Management and Organizational Structures  8

1.3.3 Value Chain Analysis   12

1.4 Managing the Transfer Pricing Function in a Multinational Enterprise   24

Part B Design Principles and Policy Considerations  29

2 Introduction to Transfer Pricing   29

2.1 What is Transfer Pricing?   29

2.1.1 General    29

2.1.2 Examples    30

2.1.3 Summary of transfer pricing concept  32

2.2 Basic Issues Underlying Transfer Pricing  32

2.3 Evolution of Transfer Pricing   35

2.4 The Arm’s Length Principle in Transfer Pricing   37

2.4.1 Legal basis of the Arm’s Length Principle  37

2.4.2 Application of the Arms Length Principle   39

2.5Transfer Pricing as a Current and Future Issue  41

2.5.1 General issues with transfer pricing  41

2.5.2 Transfer pricing and developing countries   42

2.5.3 Lack of comparables   42

2.5.4 Lack of experience and requisite skill sets  43

2.5.5 Treatment of MNE Group Synergies  43

2.5.6 Complexity   46

2.5.7 Impact of the digitalization of the economy   46

3 Comparability Analysis   49

3.1 Rationale for comparability analysis   49

3.2 Comparability analysis process  51

3.3 Analysis of Economically Significant Characteristics and Controlled Transactions53

3.3.1 Gathering of basic information about the taxpayer  53

3.3.2 Identify the accurately delineated transaction  53

3.3.3 Evaluation of separate and combined transactions  54

3.4 Examination of Comparability Factors of the Controlled Transaction 56

3.4.1 Overview    56

3.4.2 Characteristics of the property or service transferred 56

3.4.3 Contractual terms of transaction   57

3.4.4 Functional analysis   58

3.4.5 Economic circumstances of the transaction   83

3.4.6 Business strategies    88

3.5 Further steps in Comparability analysis  90

3.5.1 Selection of the Tested Party  90

3.5.2 Identification of potentially comparable transactions or companies  91

3.5.3 Adjustments to comparables  105

3.5.4 Selection of the most appropriate transfer pricing method    112

3.5.5 Interpreting the data to determine the arm’s length price or range   112

3.5.6 Analyzing Comparability Data and Determining an Arm’s Length Price   113

3.6 Further issues regarding comparability analysis   113

3.6.1 General    113

3.6.2 Timing Issues   113

3.6.3 Lack of Reliable Comparables   115

3.6.4 “Cherry-picking” of Comparables / Losses   116

3.6.5 Intentional Set-offs   117

3.6.6 Use of Customs Valuations  117

3.6.7 Use of Secret Comparables  120

3.6.8 Overall Process Complexity  121

3.7 Conclusion    121

4 Methods    123

4.1 Introduction to Transfer Pricing Methods  123

4.1.2 Selection of Methods (How, Why and Use of  Methods)    123

4.1.3 Choice of Available Methods  127

4.2 Traditional Transaction Methods: Comparable

Uncontrolled Price (CUP)   128

4.2.1 Introduction to CUP   128

4.2.2 Comparability in Application of the CUP Method  129

4.2.3 Strengths and Weaknesses of the CUP Method  132

4.2.4 When to Use the CUP Method   133

4.2.5 Case Examples of Use of the CUP Method   134

4.3 Traditional Transaction Methods: Resale Price Method (RPM)   135

4.3.1 Introduction to RPM   135

4.3.2 Arm’s Length Gross Profit Margin   137

4.3.3 Transactional Comparison Versus Functional  Comparison   138

4.3.4 Comparability in Applying the Resale Price Method 139

4.3.5 Strengths and Weaknesses of the Resale Price Method  141

4.3.6 When to Use the Resale Price Method  142

4.3.7 Case Examples of the Resale Price Method   143

4.4 Traditional Transaction Methods: Cost Plus Method  146

4.4.1 Introduction to Cost Plus Method   146

4.4.2 Mechanism of the Cost Plus Method  148

4.4.3 Arm’s Length Gross Profit Mark-up for Cost Plus Method  148

4.4.4 Transactional Comparison Versus Functional Comparison 149

4.4.5 Comparability   150

4.4.6 Determination of Costs   151

4.4.7 Strengths and Weaknesses of the Cost Plus Method 152

4.4.8 When to Use the Cost Plus Method  153

4.4.9 Case Examples of Cost Plus Method  154

4.5 Transactional Profit Methods: Transactional Net Margin Method (TNMM)   155

4.5.1 Introduction   155

4.5.2 Transactional Net Margin Method   156

4.5.3 Definition and Choice of Tested Party  157

4.5.4 Mechanism of the Transactional Net Margin Method 159

4.5.5 Examples    161

4.5.6 Arm’s Length Net Profit Margin   167

4.5.7 Transactional Comparison Versus Functional  Comparison   170

4.5.8 Comparability   171

4.5.9 Other Guidance for Application of the TNNM  172

4.5.10 Strengths and Weaknesses of the TNMM  174

4.5.11 When to Use the Transactional Net Margin Method 175

4.6 Transactional profit methods: Profit Split Method (PSM) 177

4.6.1 Introduction to PSM   177

4.6.2 Strengths and Weaknesses of the Profit Split Method 178

4.6.3 When to Use the Profit Split Method  179

4.6.4 How to apply the profit split method  188

4.6.5 Determining the profits to be split   193

4.7 The “Sixth method” or “Commodity rule”  199

4.7.1 Introduction   199

4.7.2 Practical Operation of the Sixth Method  201

4.7.3 OECD Guidance    205

4.7.4 CIAT Guidance   207

4.7.5 Considerations for use of the sixth method   209

5 Intragroup Services   213

5.1 Introduction    213

5.2 Analysis of Intragroup Services  215

5.2.1 Types of intragroup services  215

5.2.2 The benefit test   215

5.2.3 Service activities for the specific needs of an associated enterprise   217

5.2.4 Centralized services   217

5.2.5 On-call services   221

5.2.6 Non-chargeable activities   222

5.3 Determining an Arm’s Length Charge   230

5.3.1 Functional analysis   230

5.3.2 Charging approaches   232

5.3.3 Provision of assets and ancillary services  233

5.4 Calculating Arm’s Length Consideration  234

5.4.1 Introduction   234

5.4.2 Comparable Uncontrolled Price Method (CUP)  235

5.4.3 Cost Plus Method    237

5.4.4 Total service costs: direct and indirect costs   238

5.4.5 Transactional Net Margin Method (TNMM)  238

5.4.6 Profit Split Method   240

5.4.7 Pass-through costs   241

5.4.8 Allocation keys   242

5.5 Safe Harbours    245

5.5.1 Introduction   245

5.5.2 Low value-adding services safe harbour  246

5.5.3 Minor expense safe harbour  248

5.6 Group Procurement Activities: An Illustration of the Operation of the Rules on Services   251

5.7 Cost-savings issues arising from centralized procurement  functions    252

5.8 Commercial objectives in centralizing procurement functions    253

5.9 Evaluating compensation for procurement activities  255

5.10 The role and expertise of the procurement services  provider   255

5.11 The nature of the items procured and the commercial risks associated with those items  257

5.12 Risks assumed by the group procurement company  258

5.13 Procurement from associated enterprises  260

5.14 Pricing methods 260

5.14.1 Overview  260

5.14.2 Example of a centralized procurement activity  262

5.14.3 Application and interpretation of CUP method with example    264

5.14.4 Extended example    269

Annex 1: Example list of low value-adding services  272

6 Transfer Pricing Considerations for Intangibles  275

6.1 Introduction    275

6.2 Identifying Intangibles    276

6.2.1 Definition of intangibles   276

6.2.2 Classification of intangibles  277

6.2.3 Trade intangibles    279

6.2.4 Marketing intangibles   279

6.2.5 Other aspects of identifying intangibles  281

6.3 Ownership of Intangibles and Transactions Involving  Intangibles    286

6.3.1 Analytical framework for the use or transfer of intangibles   286

6.3.2 Legal ownership and contractual terms  288

6.3.3 The significance of DAEMPE   290

6.3.4 Functions, assets and risks contributing to DAEMPE 291

6.3.5 Risks    293

6.3.6 Assets    294

6.3.7 “Ex ante” and “ex post” returns   295

6.3.8 Return to funding and associated financial risk  297

6.3.9 Practical guidance for fact-finding in transactions  involving intangibles   298

6.4 Comparability    299

6.5 Selection of the Most Appropriate Transfer Pricing Method   299

6.5.1 General    299

6.5.2 CUP Method: acquisition price method in the case of transactions involving sales of intangibles  300

6.5.3 Cost-based methods to value transfers of intangibles 302

6.5.4 Valuation techniques to value transfer of intangibles (“Discounted cash flow approach ”)  302

7 Cost Contribution Arrangements   315

7.1 Introduction    315

7.2 CCA Features    317

7.3 Participation in a CCA    318

7.4 Valuing CCA Contributions   319

7.5 Predicting Expected Benefits   321

7.6 Non-arm’s Length CCAs   323

7.6.1 General    323

7.6.2 Balancing payments   324

7.6.3 Disregarding the CCA terms  325

7.7 CCA Entry, Withdrawal and Termination  325

7.7.1 General    325

7.7.2 “Buy-in” payments   325

7.7.3 “Buy-out” amounts   326

7.7.4 Termination of a CCA   326

7.8 General CCA Requirements   327

8 Transfer Pricing Aspects of Business Restructurings 333

8.1 Setting the framework and definition issues  333

8.1.1 General    333

8.1.2 Business restructurings: considerations regarding  developing countries   334

8.1.3 Process for setting or testing the arm’s length principle in a business restructuring  335

8.2 Types of Business Restructurings  338

8.2.1 General    338

8.2.2 Transfer of functions and risks arising from business restructurings   339

8.2.3 Termination or substantial renegotiation of existing arrangements   340

8.2.4 Example: Operational Considerations on the Transfer Pricing Aspects of a Business Restructuring 341

8.3 Model approach for auditing business restructuring issues 343

9 Intragroup Financial Transactions................347

9.1 Financing arrangements within MNEs   347

9.2 Corporate financing decisions   349

9.3 Common types of intragroup financial transactions  349

9.4 Common types of group financing departments / entities 352

9.5 Corporate income tax approaches addressing MNE financing decisions   353

9.6 The application of the arm’s length principle to financial transactions (in general)   355

9.7 The arm’s length nature of intragroup financial transactions    355

9.7.1 General    355

9.7.2 Economically significant characteristics of financial transactions   357

9.8 Considering the creditworthiness of associated enterprises 365

9.9 Considering the risks embedded in the financial instrument    371

9.10 Potential Transfer Pricing Methods   372

9.11 The Use of Simplification Measures and Safe Harbours  373

9.12 The application of the arm’s length principle to intragroup loans   374

9.12.1 Different types of intragroup loans and relevant characteristics to consider  374

9.12.2 Determining the arm’s length nature of intragroup  loans    376

9.12.3 Interplay between intragroup loans and other intragroup transactions   382

9.13 The application of the arm’s length principle to  intragroup financial guarantees  385

9.13.1 Different types of intragroup financial guarantees and relevant characteristics to consider  385

9.13.2 Determining the arm’s length nature of intragroup financial guarantees   387

Part C Transfer Pricing Legislation Design and Practical Implementation of a Transfer Pricing Regime  395

10 General Legal Environment for Establishing and Updating Transfer Pricing Regimes  395

10.1 Introduction    395

10.1.1 Historical development of transfer pricing rules  395

10.1.2 Key Considerations in the Design of a Transfer Pricing Regime   396

10.1.3 Domestic Transfer Pricing Legislation: Structural Overview    397

10.1.4 Key Considerations in the Design of a Transfer Pricing Regime   398

10.1.5 Associated Enterprises   400

10.1.6 Coverage of Transactions, Availability/Priority of Transfer Pricing Methods and Compliance   402

10.1.7 Insufficient Information   403

10.1.8 Burden of Proof   404

10.1.9 Presumptive Taxation Approaches and the Arm’s  Length Principle    407

10.1.10 Transfer Pricing Information Requirements   407

10.1.11 Balance to be Struck between Statute and  Subsidiary Regulations   408

10.2 Transfer Pricing Rules in National Tax Regimes   409

10.2.1 Domestic Rules   409

10.2.2 Safe Harbour Rules   411

10.2.3 Safe Harbour Practical Issues   414

10.2.4 Downwards Adjustments   415

10.2.5 Advance Pricing Agreements/Arrangements (APAs) 416

10.2.6 Interaction of Transfer Pricing Provisions with Domestic Tax Rules   418

10.3 Keeping Transfer Pricing Regimes Updated  418

10.3.1 Gathering Information   418

10.3.2 Examples of Measures to Update Transfer Pricing Regimes    421

11 Establishing Transfer Pricing Capability in  Developing Countries   423

11.1 Introduction    423

11.2 Relationship between Tax Policy and Tax Administration 423

11.3 Assessing Current Capabilities and Gaps to be Filled  425

11.4 Developing the Mission, Vision and Culture of the Transfer Pricing Unit   427

11.4.1 Objectives   427

11.4.2 Client/Taxpayer Orientation  428

11.4.3 The Enforcement Approach: A Risk-Based Approach to Compliance   430

11.5 Organizational Structure for the Transfer Pricing Unit  431

11.5.1 Introduction   431

11.5.2 Establishing Transfer Pricing Capability: Possible Structures   433

11.6 Building Team Capability   436

11.6.1 General Human Resource Management Issues  436

11.6.2 Competences/Skill Sets Needed by the Unit: Putting Together the Best Team   439

11.6.3 Training    443

11.6.4 Research Materials/Databases   445

11.6.5 Information Strategies   446

11.7 Effective and Efficient Business Processes  447

11.8 Application of the above considerations in implementation 448

11.9 Assessing Effectiveness and Fine Tuning  450

11.10 Country Examples of Capacity-Building in Transfer Pricing 451

12 Documentation   455

12.1 Introduction    455

12.2 International Guidelines on Transfer Pricing  Documentation   456

12.2.1 OECD/G20 Transfer Pricing Documentation  Standard    456

12.2.2 Implementation of Global Documentation Standards in Developing Countries  464

12.3 Experiences of MNEs with International Guidelines on  Documentation   466

12.4 Practical Guidance on Documentation Rules and Procedures    467

12.4.1 Burden of Proof   467

12.4.2 Time Frame to Produce Transfer Pricing Documentation   468

12.4.3 Penalties    470

12.4.4 Special Considerations for Small and Medium-sized Enterprises   471

12.4.5 Language to be Used for Transfer Pricing Documentation   472

13 Risk Assessment    473

13.1 Introduction    473

13.2 Selection of Taxpayers for Transfer Pricing Examination:

Risk Assessment   474

13.2.1 General principles in risk assessment  474

13.2.2 Categories and Identification of Risk  476

13.2.3 Possible Approaches in Risk Assessments  480

13.2.4 Sources of Information for Risk Assessment  481

13.2.5 Risk Factors   483

13.2.6 The Risk Assessment Process   483

13.2.7 Risk Assessment Tools   484

13.2.8 Risk Assessment Findings  485

14 Transfer Pricing Audits   487

14.1 Planning a Transfer Pricing Examination  487

14.1.1 Overview    487

14.1.2 Formation of the Examination Team  487

14.1.3 Supervision of Examination  489

14.1.4 Issues for Examination/Examination Plan   489

14.1.5 Audit Timetable   490

14.1.6 Statute of Limitations as Provided for in the  Domestic Law   490

14.1.7 Approvals and Sign-off   490

14.2 Preliminary Examination   491

14.2.1 Desk Audit   491

14.2.2 Understanding the Taxpayer’s Business  491

14.2.3 Understanding the Industry in which the Taxpayer Operates    493

14.2.4 Approval    494

14.3 Audit Procedure   494

14.3.1 Audit Approach   494

14.3.2 Notification to Taxpayer   494

14.3.3 Gathering of Information  495

14.3.4 Sources of Information   497

14.3.5 Language    497

14.3.6 Types of Information to be gathered  498

14.3.7 Points for Examination at the Initial Stage   499

14.3.8 Information Request / Supplemental Information  500

14.3.9 Request for Interviews   501

14.3.10 Request to Visit Facilities   502

14.3.11 Secret Comparables   502

14.3.12 Comparison Chart   503

14.4 Narrowing of Issues: Development of Tax Authority’s Position   503

14.4.1 Refining Understanding of the Taxpayer’s Business 503

14.4.2 Refining Understanding of the Taxpayer’s Industry 503

14.4.3 Refining Functional Analysis   505

14.4.4 Choice of Transfer Pricing Method  505

14.4.5 Examiners’ Interim Opinion or Preliminary Position Paper   505

14.4.6 Draft Proposed Adjustments  506

14.4.7 Formal Notification to Taxpayer of Proposed Adjustment   506

14.4.8 Issuance of Adjustment/Correction  506

14.4.9 Settlement Opportunities  506

14.5 Case Closure    507

14.6 Tax Audits and Dispute Resolution   509

15 Dispute Avoidance and Resolution  511

15.1 Introduction    511

15.2 Special Considerations for Developing Countries  511

15.3 Dispute Avoidance Procedures   512

15.3.1 Legislation and Guidance  512

15.3.2 Formalized processes and practices  514

15.3.3 Audit settlements    517

15.3.4 Advance Pricing Agreements/Arrangements  517

15.3.5 Developing and operating an APA programme  520

15.3.6 Joint audits   522

15.4 Domestic Dispute Resolution Procedures  522

15.4.1 Administrative appeals   522

15.4.2 Mediation/conciliation   523

15.4.3 Judicial system   523

15.5 Dispute Resolution Procedures: Tax Treaty Provisions  524

15.5.1 Division of taxing jurisdiction   524

15.5.2 The Mutual Agreement Procedure   524

15.5.3 Operational considerations for MAPs  526

15.5.4 MAP under the Inclusive Framework initiative  529

15.5.5 Arbitration   530

15.5.6 Non-binding dispute resolution procedures   533

15.6 Multilateral Approaches   533

15.7 Coordination of Domestic and Cross-Border Dispute Resolution Procedures    534

Part D Country PractIces 537

Preamble by the Subcommittee on Article 9 (Associated  Enterprises): Transfer Pricing   537

1 Brazil—Country Practices  539

1.1 Introduction: General Explanation   539

1.2 Resale Price Method with Fixed Margins  540

Explanation of the methodology  540

Resale price (with manufacturing operation)  542

Fixed margins for the Resale Price Method (RSP)  544

1.3 Cost Plus Method with Fixed Margins   547

Fixed margins for the Cost Plus Method   548

1.4 Differences Between the Application of the Methods Regarding Import and Export Operations  549

1.5 Imports   550

1.6 Exports   550

1.7 Strengths and Weakness of the Brazilian Methods with

Predetermined Profit Margins   551

1.8 Other Explanations of the Brazilian Transfer Pricing Methodology    552

1.9 Comments for Countries Considering the Adoption of  Fixed Margins    554

2 China—Country Practices  557

Transfer Pricing Opportunities and Challenges for Developing Countries in the Post-BEPS Era  557

2.1 Introduction    557

2.2 Part One: Recent Developments in China Transfer Pricing Practice   559

2.3 Domestic Legislation and Practical Guidance  560

2.4 Centralized Approval System to Assure Consistency and Standardization   561

2.5 Monitor Profits of MNEs in China   562

2.6 Intensify Audit Efforts    563

2.7 APA Programme and MAP Process   563

2.8 Expand Data Sources for Comparability Analysis  564

2.9 Enhance International Communication and Cooperation 564

2.10 Build a Professional Transfer Pricing Team  564

2.11 Part Two: China’s Transfer Pricing Regime  565

2.12 Related Party Filing   566

2.13 Related Party Relationships   566

2.14 Contemporaneous Transfer Pricing Documentation Requirements    567

2.15 Transfer Pricing Audits    568

2.16 Transfer Pricing Methods   569

2.17 APA Programme   569

2.18 MAP Process    570

2.19 Part Three: Challenges Facing China and Other Developing Countries    571

2.20 Major Challenges   571

Arm’s Length Principle   571

Lack of Reliable Comparables   572

Location Specific Advantages   573

Steps Calculations   576

2.21 Intangibles    577

2.22 Practical Issues and Solutions   578

2.23 Alternative Methods to the Traditional Transactional Net Margin Method   581

2.24 Other Experience and Recommendations  582

2.25 Conclusion    583

3 India—Country Practices  585

Transfer Pricing Practices and Challenges in India  585

3.1 Introduction    585

3.2 Transfer Pricing Regulations in India   585

3.3 Transfer Pricing Issues in India  587

3.3.1 Comparability Analysis   587

3.4 Issues relating to Risks    587

3.5 Arm’s Length Range   588

3.6 Comparability Adjustment   589

3.7 Secondary Adjustment    589

3.8 Location Savings   590

3.9 Issues related to cost base under TNMM  591

3.10 Intangibles    592

3.10.1 General    592

3.11 Intangibles generated through R&D activities  594

3.12 Marketing intangibles    595

3.13 Intragroup Services   600

3.14 Financial Transactions    602

3.15 Dispute Resolution   603

3.16 Advance Pricing Agreements (APAs)   605

3.17 Safe Harbour    606

3.18 The Base Erosion and Profit Shifting (BEPS) Final Reports on Actions 8 to 10 and 13  606

4 Mexico—Country Practices  609

4.1 Introduction    609

4.2 Related Party Definition   610

4.3 Deemed Related Party Definition  610

4.4 Specific Documentation Requirements   610

4.5 Comparability    613

4.6 Audit Procedure   615

4.7 Advance Pricing Agreements (APA) Procedures   617

4.8 Maquila Export Companies   617

4.9 Current Maquila Provisions   619

4.10 Competent Authority Procedure  620

4.11 Effective Implementation of the Arm’s Length Standard   620

4.12 Recent Developments   622

5 South Africa—Country Perspectives  625

5.1 Introduction    625

5.2 South African Transfer Pricing Landscape  625

5.3 Recent Developments   626

5.4 Legislative and Administrative Framework  626

5.5 Year-End Adjustments    632

5.6 Comparability    632

5.7 Intangibles    633

5.8 Intra Group Services   634

5.9 Dispute Resolution   635

5.10 Exchange of Information   636

5.11 Mutual Agreement Procedure (MAP)   637

5.12 Advance Pricing Agreements (APAs)   638

5.13 Conclusion    639

6 Kenya—Country Practices  641

Kenya’s Transfer Pricing Experience   641

6.1 Introduction    641

6.2 Transfer Pricing legislation in Kenya   641

6.3 Transfer Pricing developments  641

6.4 Embracing the G20/ OECD BEPS Project outcomes  642

6.5 Other developments and proposals   644

6.6 Tax administration for transfer pricing capacity development    644

6.7 International engagements   645

6.8 Conclusion    645

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