Not all is fair in love and war: A comprehensive study on the current legal status of inter-corporate transfer pricing taxation on sales and purchases of goods in the Philippines of a local affiliate company that has a transfer pricing agreement with its mother corporation domiciled abroad

All is fair in Love and War. As depicted in the classic Greek Mythology of The Fall of Troy. It is a popular English saying which usually means that one is allowed to do or say something that is deceitful, in order he/she can get what they want1. This saying is not applicable to taxation though, spe...

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Main Author: Granado, Lorelee Margaret T.
Format: text
Language:English
Published: Animo Repository 2014
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Online Access:https://animorepository.dlsu.edu.ph/etd_masteral/6986
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Institution: De La Salle University
Language: English
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spelling oai:animorepository.dlsu.edu.ph:etd_masteral-140852024-07-13T06:37:42Z Not all is fair in love and war: A comprehensive study on the current legal status of inter-corporate transfer pricing taxation on sales and purchases of goods in the Philippines of a local affiliate company that has a transfer pricing agreement with its mother corporation domiciled abroad Granado, Lorelee Margaret T. All is fair in Love and War. As depicted in the classic Greek Mythology of The Fall of Troy. It is a popular English saying which usually means that one is allowed to do or say something that is deceitful, in order he/she can get what they want1. This saying is not applicable to taxation though, specifically in the area of Transfer Pricing. The dramatic increase in globalization of trade has also led to harmful tax practices that have resulted in tremendous losses of tax revenue for government. The most significant international tax issue emerging from globalization confronting tax administrations worldwide is transfer pricing2. Transfer Pricing is probably the most critical and complicated issue in International Taxation. It is an extremely sensitive and secretive area for all firms, especially multinational firms, and with the taxing authorities as well, as it is an avenue for the companies to avoid or evade taxes. Currently, much of the problem arise out of the lack of suppletory laws or regulations to address the deficiency in the provision of Section 50 of the National Internal Revenue Code for the Commission of Internal Revenue (CIR) to distribute, apportion, or allocate gross income or deductions between or among related organization, trade or business, if the determination that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly reflect the income of such organization, trade or business and place the related entity in tax parity with an uncontrolled party. There is therefore a need for innovative revenue regulations that will take into account current transfer pricing regulations on intercompany sales and purchases and a modified version for the purpose of simplifying the regulative aspect of transfer pricing and subsequently, to render the effectivity and efficiency of Section 50 concrete. 2014-01-01T08:00:00Z text https://animorepository.dlsu.edu.ph/etd_masteral/6986 Master's Theses English Animo Repository Transfer pricing—Taxation—Philippines Transfer pricing—Taxation—Law and legislation—Philippines Taxation-Transnational Tax Law
institution De La Salle University
building De La Salle University Library
continent Asia
country Philippines
Philippines
content_provider De La Salle University Library
collection DLSU Institutional Repository
language English
topic Transfer pricing—Taxation—Philippines
Transfer pricing—Taxation—Law and legislation—Philippines
Taxation-Transnational
Tax Law
spellingShingle Transfer pricing—Taxation—Philippines
Transfer pricing—Taxation—Law and legislation—Philippines
Taxation-Transnational
Tax Law
Granado, Lorelee Margaret T.
Not all is fair in love and war: A comprehensive study on the current legal status of inter-corporate transfer pricing taxation on sales and purchases of goods in the Philippines of a local affiliate company that has a transfer pricing agreement with its mother corporation domiciled abroad
description All is fair in Love and War. As depicted in the classic Greek Mythology of The Fall of Troy. It is a popular English saying which usually means that one is allowed to do or say something that is deceitful, in order he/she can get what they want1. This saying is not applicable to taxation though, specifically in the area of Transfer Pricing. The dramatic increase in globalization of trade has also led to harmful tax practices that have resulted in tremendous losses of tax revenue for government. The most significant international tax issue emerging from globalization confronting tax administrations worldwide is transfer pricing2. Transfer Pricing is probably the most critical and complicated issue in International Taxation. It is an extremely sensitive and secretive area for all firms, especially multinational firms, and with the taxing authorities as well, as it is an avenue for the companies to avoid or evade taxes. Currently, much of the problem arise out of the lack of suppletory laws or regulations to address the deficiency in the provision of Section 50 of the National Internal Revenue Code for the Commission of Internal Revenue (CIR) to distribute, apportion, or allocate gross income or deductions between or among related organization, trade or business, if the determination that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly reflect the income of such organization, trade or business and place the related entity in tax parity with an uncontrolled party. There is therefore a need for innovative revenue regulations that will take into account current transfer pricing regulations on intercompany sales and purchases and a modified version for the purpose of simplifying the regulative aspect of transfer pricing and subsequently, to render the effectivity and efficiency of Section 50 concrete.
format text
author Granado, Lorelee Margaret T.
author_facet Granado, Lorelee Margaret T.
author_sort Granado, Lorelee Margaret T.
title Not all is fair in love and war: A comprehensive study on the current legal status of inter-corporate transfer pricing taxation on sales and purchases of goods in the Philippines of a local affiliate company that has a transfer pricing agreement with its mother corporation domiciled abroad
title_short Not all is fair in love and war: A comprehensive study on the current legal status of inter-corporate transfer pricing taxation on sales and purchases of goods in the Philippines of a local affiliate company that has a transfer pricing agreement with its mother corporation domiciled abroad
title_full Not all is fair in love and war: A comprehensive study on the current legal status of inter-corporate transfer pricing taxation on sales and purchases of goods in the Philippines of a local affiliate company that has a transfer pricing agreement with its mother corporation domiciled abroad
title_fullStr Not all is fair in love and war: A comprehensive study on the current legal status of inter-corporate transfer pricing taxation on sales and purchases of goods in the Philippines of a local affiliate company that has a transfer pricing agreement with its mother corporation domiciled abroad
title_full_unstemmed Not all is fair in love and war: A comprehensive study on the current legal status of inter-corporate transfer pricing taxation on sales and purchases of goods in the Philippines of a local affiliate company that has a transfer pricing agreement with its mother corporation domiciled abroad
title_sort not all is fair in love and war: a comprehensive study on the current legal status of inter-corporate transfer pricing taxation on sales and purchases of goods in the philippines of a local affiliate company that has a transfer pricing agreement with its mother corporation domiciled abroad
publisher Animo Repository
publishDate 2014
url https://animorepository.dlsu.edu.ph/etd_masteral/6986
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