Episode 69: UK Transfer Pricing Update: HMRC Statistics and Enforcement Trends

In this episode of EY Transfer Pricing Roundup, host Ryan J. Kelly is joined by Kent Stackhouse to unpack Perrigo Company v. United States (W.D. Mich.). They discuss the 2006 contract reassignment at the center of the dispute, the IRS's economic substance and Section 482 arguments, and why the court emphasized ex ante pricing using contemporaneous projections, not actual results. The episode also highlights key practical takeaways on documentation, assumptions, and reliance on advisors, with a note that the decision was appealed in late March 2026.

In the latest episode of the EY Transfer Pricing Roundup, EY host and Financial Services Transfer Pricing Leader Jonathan Thompson is joined by EY France Transfer Pricing Leader, Nadia Sabin and EY EMEIA Tax Policy and Controversy Leader, Jean-Pierre Lieb for a discussion on tax controversy in France and the increasing challenges multinational businesses face in today's complex global tax environment. The conversation explores evolving transfer pricing dispute trends, heightened enforcement activity, and key considerations for managing tax risk across jurisdictions. The speakers share practical insights on how organizations can navigate scrutiny from tax authorities, prepare for controversies, and respond to a rapidly changing international tax landscape. Listen to the episode to learn more about the latest developments and what they may mean for multinational businesses operating globally. #TaxControversy #InternationalTax #TransferPricing #TaxPolicy #GlobalTax #EYTPRU

In this episode of the EY Transfer Pricing Roundup, EY host and Financial Services Transfer Pricing Leader, Jonathan Thompson is joined by Manuel de los Santos Poveda, Head of the OECD Transfer Pricing, Tax Treaties and International Agreements Division, and Ronald van den Brekel, EY Global TP Market and Innovation Leader, to discuss the OECD's consultation on transfer pricing aspects of intra-group services. Together, they explore the background to the consultation, the key issues the OECD is seeking to address, and the potential implications for multinational enterprises across industries. The discussion covers: ✅ The policy objectives behind the consultation ✅Areas where existing services guidance may be creating challenges ✅The interaction between services, value creation and transfer pricing outcomes ✅The OECD's work on global mobility ✅Other area's on the OECD's agenda This was a fascinating discussion that brought together both the OECD's perspective and practical experience from working with multinational groups around the world. Whether you are involved in transfer pricing, tax policy, controversy, or international tax governance, this episode provides valuable insights into one of the most important OECD initiatives currently under consideration.

UK transfer pricing continues to evolve at a rapid pace. Recently we have seen the release of the Guidelines for Compliance, the outcomes of a number of transfer pricing cases and, a transfer pricing consultation on documentation and an international controlled transactions schedule. In the middle of all of this, HMRC also released its annual diverted profits tax and Advance Pricing Agreement (APA) statistics. Join EY host and Financial Services Transfer Pricing Leader, Jonathan Thompson as he discusses these statistics with Matthew Bacon, who has recently joined EY from HMRC's APA team. 

The most recent version of the Singapore Transfer Pricing Guidelines, version 8, was published late last year. EY Host and Financial Services Transfer Pricing Leader, Jonathan Thompson recently sat down with EY Singapore Transfer Pricing Partner, Adam Henderson, to unpack the latest transfer pricing guidelines. In this episode, they explore: ✅ Key changes in the updated IRAS guidance ✅ Practical implications for multinational groups operating in or through Singapore ✅ How taxpayers should approach documentation, substance, and risk allocation in light of the revisions ✅ Common areas where increased scrutiny from the authorities may be expected Singapore remains a critical hub in many global operating models, and this eighth version of the IRAS guidelines is a clear signal of continued refinement, and heightened expectations for transfer pricing compliance. 

Brazil fundamentally re‑engineered its transfer pricing framework, moving away from its long‑standing formulaic approach and aligning with the #OECD arm's length principle. In this episode, EY host and EY Financial Services Transfer Pricing Leader, Jonathan Thompson and Daniel Biagioni, a Transfer Pricing Partner from EY Brazil discuss what this change really meant in practice for multinationals operating in or with Brazil. 🎙️ Key topics include: ✅ What changed under Brazil's new transfer pricing rules ✅ Lessons from the first year of documentation ✅ Practical challenges businesses are already facing in implementation ✅ What tax leaders should be prioritizing now in terms of governance, systems, and controversy risk #EYTPRU #TPCompliance #Brazil #TransferPricing

Canada is entering a new era of transfer pricing regulation. With the federal government introducing sweeping amendments through the 2025 budget and Bill C‑15, businesses now face a far more substance‑driven, #OECD‑aligned framework. In the latest EY Transfer Pricing Roundup podcast episode, EY host and Financial Services Transfer Pricing leader Jonathan Thompson sits down with Marlon Alfred, a Transfer Pricing Partner from EY Canada, to break down what these changes mean in practice. Marlon shares insights on how taxpayers should approach delineation, documentation, and risk assessment under the new regime—and what multinationals should be doing now to stay ahead of the curve. 👉 Tune in to understand the impact, the opportunities, and the road ahead.

In the latest episode of the EY Transfer Pricing Roundup, EY host and Financial Services Transfer Pricing leader, Jonathan Thompson and guest Sandra Farhat, a Transfer Pricing and Controversy Partner with EY Sydney, take a deep dive into recent developments in Australian transfer pricing legislation and what they mean for multinational groups operating in—or dealing with—Australia. With heightened ATO scrutiny and continued legislative evolution, transfer pricing is always a hot topic. The conversation explores: 📌 Key legislative and administrative developments shaping Australia's transfer pricing framework 📌 Practical implications for documentation, governance, and disputes 📌 What taxpayers should be prioritizing now to manage risk proactively  

As many multinational groups begin to think about 2025 transfer pricing compliance, join EY host and Financial Services Transfer Pricing leader, Jonathan Thompson and guest Divya Nair, a Managing Director in EY's Global Center of Excellence, as they discuss the increasingly complex transfer pricing compliance landscape, the relationship between robust transfer pricing documentation, technology usage, and end‑to‑end compliance. This episode unpacks: 📌 How evolving global standards are reshaping transfer pricing documentation requirements 📌 Practical challenges companies face when aligning their documentation 📌 The growing role of technology and data in creating defensible, efficient compliance processes 📌 What organizations can do today to anticipate regulator expectations tomorrow

As jurisdictions begin implementing the OECD's Pillar Two framework, the interaction between transfer pricing policies and GloBE rules is becoming increasingly complex—and consequential. In this episode of the EY Transfer Pricing Roundup, EY host and Financial Services Transfer Pricing Leader, Jonathan Thompson is joined by EY International Tax and Transaction Services Partner, Eddie Holland to unpack the transfer pricing implications of Pillar Two, including: ☑️ The current status of Pillar 2 implementation ☑️Where TP and Pillar 2 interact ☑️How TP impacts transitional safe harbor calculations ☑️How to address non arm's length transactions and ☑️What you should be thinking about going into year end This discussion offers timely insights into how TP and Pillar Two intersect—and what that means for your global tax posture.