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Australia Issues Ruling Aligning Transfer Pricing Rules to Arm's Length Principle

|Approved Changes|Australia
Australia

The Australian Taxation Office has issued a ruling that provides the Commissioner's views about the application of section 815-130 of the Income Tax Assessment Act 1997 (ITAA 1997), which specifies the relevance of the actual commercial or financial relations to the identification of the arm's length conditions. The identification of these conditions is relevant to ascertaining whether an entity gets a transfer pricing benefit from the actual conditions which operate between the entity and an…

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