Finance News by Mazars Romania

Thu | 14.01.2021

Accounting/audit/tax

Four main topics set the latest recommendations published within the OECD’ Guidance on the implications of the COVID-19 pandemic.

Every year has a few defining moments, but the past one has contained so many world-changing challenges that now it’s even harder to predict how the new year will go, in terms of business or in our personal lives. In a still uncertain landscape, with vaccines starting to be approved and distributed all over the word and with many countries dealing with even more cases than they expected, the Organisation for Economic Co-operation and Development (OECD) released its recommendations on the transfer pricing implications of the COVID-19 pandemic in the transactions performed between related parties. Unprecedented economic conditions and government responses to the COVID-19 pandemic have led to significant challenges in the application of the arm’s length principle.

In a recent material, Mazars tackled this topic and talked about the four areas that the Guide focuses on:

comparability analysis;
losses and the allocation of COVID-19 specific costs;
government assistance programmes;
advance pricing agreements.

Read more info HERE.

COVID-19 Global Tax and Law Tracker

The COVID-19 pandemic is a constantly evolving global health crisis that is creating a huge range of challenges for individuals and businesses around the world. As governments take unprecedented action to prevent the spread of the virus, businesses are facing an ever-more complex environment to operate within.

Businesses around the world need to understand the changing COVID-19 legislation and tax measures that apply to their business operations, whilst simultaneously develop strategies to protect their employees and the stability of their business during this crisis. Mazars’ global tax and legal experts from around the world have created an interactive tool enabling you to track the global COVID-19 legislation and tax measures around the world that you need to be aware of, and insights providing practical guidance to help you protect your business.

This interactive tool enables you to select the countries, legislation and tax measures you need to know about, giving you immediate access to just the information that is relevant for you.

Keep ahead of the changing COVID-19 legislation and tax measures that apply to your business operations, enabling you to focus on developing strategies to protect your employees and the stability of your business during the crisis.

You can find more information about the tool HERE.

This article is provided by our Finance Partner, MAZARS Romania

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