KPMG Germany Webpage
Click on the above link to visit the KPMG Germany webpage on the Mondaq website
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1. Introduction
In mid-February of this year, the OECD released a 40 page paper describing global trading in financial instruments including derivatives and tentatively addressing the transfer pricing issues which it poses. The paper was designated as a "discussion draft" and circulated both to the tax authorities of the OECD member states and to the banking industry together with its advisors. The OECD's invitation to comment elicited responses in April of this year from KPMG, the British Bankers' Association, and the London Investment Banking Association, among others. Lengthy comments by the important American Bankers' Association (ABA) followed in mid-June. Most of the input for KPMG's comments came from its member companies in Japan, the United Kingdom, the United States, and Germany. The British Bankers' Association and
