Transfer pricing.

On January 1, 2001, rules relating to transfer pricing came into force. Under these rules, the tax authorities are entitled in certain cases to regulate for tax purposes prices established between 'dependent' parties. Parties assumed to be 'dependent' if a company, directly or indirectly, has at least 20 per cent or more of the other company shares; or where there is a relationship between the parties by way of employment or marriage. In other cases 'dependence' can be declared by court.