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arm's length |
Also found in: Wikipedia, Hutchinson | 0.01 sec. |
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arm's length adj. the description of an agreement made by two parties freely and independently of each other, and without some special relationship, such as being a relative, having another deal on the side or one party having complete control of the other. It becomes important to determine if an agreement was freely entered into to show that the price, requirements, and other conditions were fair and real. Example: if a man sells property to his son the value set may not be the true value since it may not have been an "arm's length" transaction. (See: contract) How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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For example, as indicated in Chapter I of these Guidelines, the application of the arm's length principle would take into account, inter alia, the contractual terms and economic circumstances particular to the CCA, e. As the arm's length principle underlies the transfer pricing regulations of most tax jurisdictions, global documentation provides a consistent and effective solution that can be efficiently prepared. The discussion draft proposes to adopt the "functionally separate entity" approach as the authorized OECD approach because it is "simpler, more administrable, and more consistent with the understanding of the arm's length principle. |
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