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13.4. Transfer Pricing

There are no specific transfer pricing ('TP') provisions under the tax laws of Dominica. However, the tax authorities are empowered to review related-party transactions to ensure that the transactions are conducted on an arm's-length basis. Failing that, the tax authorities are empowered to readjust the price of the transaction in order to reflect the arm's length price.

Country-by-Country (CbC) Reporting

Dominica has till date not introduced a Country-by-Country reporting requirement. However, it has joined the OECD’s Inclusive Framework, all members of which have committed to implement the BEPS minimum standards, including Country-by-Country reporting.

Dominica has ratified the OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters as amended by the 2010 protocol. Dominica also signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (MCAA), which provides for the exchange of information under the OECD Common Reporting Standard (CRS). Dominica began exchanges under the CRS from 1 August 2019.