TaxCorporate TaxTransfer pricing taxes Swatch

Transfer pricing taxes Swatch

Internal emails at Swiss watch manufacturer, Swatch, claimed that the group feared an inquiry into its tax arrangements if its accounting practices became known to the authorities, according to reports in the Financial Times.

Links: PwC demands delay to start of transfer pricing

The newspaper claimed that transfer pricing is becoming a serious bone of contention with tax authorities, who are peeved that multinational corporations shift profits into low-tax jurisdictions.

The report names an official in the finance department official at Swatch’s group headquarters in Switzerland, who appears on e-mails to be wrestling with the problem that tax authorities might put an adverse construction on internal documents.

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