On 11th February, the CIF and EY delivered a webinar on the transfer pricing changes after Brexit. The event was tailored to financial directors and finance functions in the construction/engineering industry.
Some key information regarding the webinar:
Substantial legislative changes in this area mean that more construction and engineering companies will be affected by transfer pricing issues.
Specific areas included:
- Providing services cross border, sending employees overseas, providing services cross border, sending employees overseas, providing parent guarantees to subsidiaries, providing know-how and IP to subsidiaries, and providing financing.
- Dealing with overseas tax authorities opportunities arising from legitimately optimising overall tax position.
- The broadening of the transfer pricing scope to such items as interest free loan financing, capital transaction and Irish to Irish transactions and penalties for non-compliance
The CIF and EY reviewed the first 6 weeks post-Brexit and the potential impact on the Construction Industry in 2021 and beyond.
To view the webinar recording, click here.
To follow on from the webinar, EY have provided a Q&A document which provides answers for some of our member’s FAQs. To view the document click here.