Implementación y adaptación de las recomendaciones de la OECD en 2020 para el análisis de operaciones financieras pactadas entre vinculadas

Abstract

In common practice, loans agreed upon between companies that are part of the same economic group are often analyzed using only comparables from the active interest rates published by the SBS, which does not reflect the economic reality of independent companies. Therefore, the compliance with the principle of full competition or market value is questionable. In this regard, the present work evaluates a financial loan transaction agreed upon between related companies in order to analyze it using the transfer pricing methodology, comparing two approaches: one utilizing information from the average interest rates of loans classified under standard criteria such as commercial risk, date, term, currency, among others defined by the SBS; and another approach using interest rates from effectively executed transactions (corporate bonds), following OECD’s recommendations regarding the assessment of economic circumstances and functional analysis of the loan transaction. This is done to subsequently classify it under technically supported criteria such as debtor's credit rating, guarantees, term, principal amount, disbursement date, and other criteria that will be used for obtaining comparable transactions. In this context, the present report makes a comparison of approaches and outcomes in order to conclude which method should be more suitable for analyzing loan transactions agreed upon between affiliated companies. It's important to note that the problem presented as a case to be solved was drawn from work experience at Deloitte Peru, Dumás and Masvalue.