The proposal, dated March 17 and recently made public, includes a list of initial topic areas the subcommittee will focus on, including the pharmaceutical and agricultural industries.
The group also seeks to aid the tax administrations of developing countries with transfer pricing risk assessments and audits, according to the proposal, and to study existing laws on transfer pricing.
Other potential areas of interest to the subcommittee, which is organized under the U.N. Committee of Experts on International Cooperation in Tax Matters, include tax dispute resolution mechanisms and the economic impacts of the COVID-19 pandemic.
Comments are being accepted on the proposal until June 15.
--Editing by Roy LeBlanc.
For a reprint of this article, please contact reprints@law360.com.