On 21 June, the OECD published revised guidance on application of the profit split method. This follows a mandate in Action 10 of the BEPS Action Plan, seeking clarification on application of the profit split method in light of global value chains, and represents a full revision of the current guidance on the use of profit splits in Chapter II of the OECD's Transfer Pricing Guidelines for Multinational Enterprises, as well as the associated Annex II.
