Business
Glencore secures transfer pricing victory – The Australian Financial Review
The Anglo-Swiss mining giant’s legal victory against the Tax Office could be Australia’s most significant transfer pricing decision.
Multinational taxpayers were waiting for a result, seeking certainty related to risk from cross-border contracts with related businesses. Incoming High Court judge Simon Steward was one of three judges to consider the appeal.
The court said a more risk-averse approach by Glencore was acceptable and the rules were “at least wide enough to include a pricing formula or some other methodology for the determination of price”.
The company will be required to pay only $2 million, a large saving on the…
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