835D Principles for construing rules in accordance with OECD Guidelines

Summary

This section provides that the transfer pricing rules are to be construed in accordance with the 2017 OECD Guidelines and certain other OECD guidance. The section effectively ensures that the OECD guidance is applied in Irish law.

Details

(2) The transfer pricing rules contained in section 835C are to be construed in such a way as to ensure, as far as possible, consistency with the 2017 OECD Guidelines and the following additional guidance published by the OECD after the date of publication of the 2017 OECD Guidelines—

• (1)(a) Guidance for Tax Administrations on the Application of the Approach to Hard-to-Value Intangibles - BEPS Action 8-10 – approved on 4 June 2018 by the Inclusive Framework on BEPS,
• (1)(b) Revised Guidance on the Application of the Transactional Profit Split Method: Inclusive Framework on BEPS: Action 8-10 – approved on 4 June 2018 by the Inclusive Framework on BEPS, and
• (1)(c),(3) any additional guidance published by the OECD on or after the date of the passing of the Finance Act 2019 as the Minister for Finance may designate by order.

Relevant Date: Finance Act 2021