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ARTICLE · 10 FEBRUARY 2021

Transfer Pricing In The Time Of COVID-19

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Many Canadian businesses have closed the books on their 2020 fiscal year, having faced an unprecedented economic shock wrought by the pandemic.

CanadaTax
Claire Kennedy
Claire Kennedy
Hennadiy Kutsenko
Hennadiy Kutsenko
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Many Canadian businesses have closed the books on their 2020 fiscal year, having faced an unprecedented economic shock wrought by the pandemic. 2020 fiscal year results will undoubtedly be affected, in many cases to the downside, though positively for those businesses serving customers working and learning in a virtual environment and filling strong demand for PPE. As enterprises prepare 2020 income tax filings, there are special considerations for those multi-national enterprises (MNEs) subject to Canada's transfer pricing (TP) rules. In this Bennett Jones blog, we summarize recently released guidance from the Organization for Economic Development and Cooperation (OECD) on COVID-19-impacted TP, drawing attention to relevant statements by the Canada Revenue Agency (CRA).

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