Transfer pricing—Ireland—Q&A guide

The following Tax practice note provides comprehensive and up to date legal information covering:

  • Transfer pricing—Ireland—Q&A guide
  • 1. Identify the principal transfer pricing legislation.
  • 2. Which central government agency has primary responsibility for enforcing the transfer pricing rules?
  • 3. What is the role of the OECD Transfer Pricing Guidelines?
  • 4. To what types of transactions do the transfer pricing rules apply?
  • 5. Do the relevant transfer pricing rules adhere to the arm’s-length principle?
  • 6. How has the OECD’s project on base erosion and profit shifting (BEPS) affected the applicable transfer pricing rules?
  • 7. What transfer pricing methods are acceptable? What are the pros and cons of each method?
  • 8. Are cost-sharing arrangements permitted? Describe the acceptable cost-sharing pricing methods.
  • 9. What are the rules for selecting a transfer pricing method?
  • More...

Transfer pricing—Ireland—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to transfer pricing in Ireland published as part of the Lexology Getting the Deal Through series by Law Business Research (published: July 2020).

Authors: Matheson—Joe Duffy; Tomás Bailey

1. Identify the principal transfer pricing legislation.

The primary Irish transfer pricing legislation is contained in Part 35A of the Taxes Consolidation Act 1997, which applies to accounting periods commencing on or after 1 January 2011 for transactions the terms of which were agreed on or after 1 July 2010. The transfer pricing legislation has been modernised with effect from 1 January 2020, and the grandfathering of pre-1 July 2010 transactions has been abolished.

2. Which central government agency has primary responsibility for enforcing the transfer pricing rules?

The Revenue Commissioners deal with transfer pricing and all other tax matters. The Irish competent authority team within the Revenue Commissioners is responsible for tax matters under Ireland’s treaties. There are transfer pricing specialists and economists within the Revenue Commissioners dealing with transfer pricing matters.

3. What is the role of the OECD Transfer Pricing Guidelines?

The 2017 OECD Transfer Pricing Guidelines are tantamount to being Irish law by virtue of Irish tax legislation, which states that the transfer pricing rules are to be construed in such a way as to ensure, as far as practicable, consistency with the OECD Transfer Pricing Guidelines. Consequently, Irish

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