코로나19가 다국적기업의 이전가격에 미치는 영향과 관련한 지침에 대한 연구 – OECD 지침의 시사점 및 국내 도입방안을 중심으로 –

Abstract

The COVID-19 pandemic has negatively affected business operations for a number of multinational enterprises, making it difficult for them to implement their existing group transfer pricing policies. Accordingly, the OECD has released the ‘Guidance on the Transfer Pricing Implications of the COVID-19 Pandemic’ to support multinational taxpayers and tax authorities to respond to transfer pricing issues for the fiscal years affected by COVID-19. The OECD Guidance focuses on four areas, namely: (i) comparability analysis; (ii) losses and the allocation of COVID-19 specific costs; (iii) government assistance programs; and (iv) APAs. However, it would be difficult to apply this OECD Guidance directly to the relevant domestic regulations, i.e. the current transfer pricing regulations of the Adjustment of International Taxes Act. The following amendments to these Regulations are therefore proposed. Firstly, the deadline for submission of transfer pricing documentation should be extended. This would make it easier for taxpayers to obtain the financial information of comparable companies, thereby improving the comparability standards and enabling the taxpayers to make compensating adjustments in the following year. Secondly, a legal basis should be established for the selection of comparable companies with operating losses, so that exceptional or non-recurring operating costs can be allocated to limited-risk bearing tested parties. This would enable profitability before and after COVID-19 to be compared, as well as making it possible to analyze and adjust for the effect of government assistance. Finally, the tax authorities should also consider the introduction of legislative measures relating to the impact of COVID-19 that ensure that critical assumptions in existing APAs are not violated. The ultimate objective of the OECD Guidance is to provide a preliminary response, which takes into consideration the significant impact of COVID-19 on the transfer prices of multinational enterprises, as well as the expected disputes over transfer pricing issues between tax authorities and taxpayers. Therefore, it is anticipated that the Korean government will promptly reflect the OECD Guidance in domestic legislation through legislative and administrative measures.