While the current upheaval due to the COVID-19 pandemic is unprecedented, lessons learned from prior economic crises can help provide structure for rapid decision-making. Business leaders who effectively coordinate changes to cross-border transactions with finance, tax, and legal teams can unlock value at this critical time. Conversely, lack of coordination can result in unanticipated tax consequences that are a drain on precious cash resources.
In this Insights, we identify 10 actions multinational companies can take now.
OECD issues guidance on transfer pricing implications of COVID-19
The Guidance is not prescriptive and leaves solutions to the issues that it raises unanswered. We note that the Guidance is not binding on tax administrations...