1. Issues and challenges facing tax administrations and taxpayers Hafiz Choudhury

2. Ecosystem for operation of TP rules Tax authorities Taxpayers  Corporate affiliates  Other related parties under TP rules in relevant jurisdictions Data vendors ICT Solution Providers  Government revenue solutions  Private sector compliance solutions  BI/Analytics solutions  Integrators Advisory firms

3. Standards for business rules and their interaction Comparable Data Standards Jurisdiction specific legislative Standards Accounting Standards International Compliance Standards - BEPS Standards bodies  G 20/OECD  XBRL – a markup standard or data exchange standard?  GAAP - Generally Accepted Accounting Principles  IASC - International Accounting Standards Committee  Global Legal Entity Identifier System (GLEIS)

4. ICT Applications Rely On Technology Standards Interoperability relies on interpretation of  Transfer Pricing Standards AND  Technology Standards Industry- Defined Meaning Communications among applications that comply with Industry Standards, and data at rest, are “wrapped” in Technology Standards (XML, UML, JSON, Hadoop, etc.). Technology Standards

5. Agreement Through Industry Standards (Goal) Automated Interoperab ility Through Industry Standards Data Tool Goal: Automated interoperability Without Standards: Labor intensive point-to-point coordination With Standards: Automated interoperability through shared interpretation Industry Standard

6. Agreement Through Industry Standards (Reality) Negotiated Interoperabi lity Data Tool Reality: Point to point, negotiated interoperability Industry Standard With Standards (Reality): Independent interpretations of Industry Standards, often published in prose, prevent automation of interoperability

7. Stakeholder issues and concerns Tax authorities  ….. Taxpayers  …… Government solution vendors Data vendors Private sector solution vendors

8. Example Interoperability Negotiation Process IntegrationCoordination Industry Standards Interpretation NIEM ASC X12 GS1NIST STIX- TAXII... Technology Standards Interpretation UMLXSDOWLJSON… Parties Must Coordinate Their Independent Interpretations In Order To Integrate

9. The Registry Approach Semantic Interoperabilit y through a Standards Registry Data Tool Common Registry Neutral registry Industry Standard interpretations accessible using a variety of Technology Standards A Registry of TP Industry and Technology Standards  Capture coordinated interpretations  Capture Independent interpretations and Versions  Capture Alignments among the interpretations  Publish coordinated interpretations and alignments

10. A possible TPSemantics.org Semantic Interoperabi lity through Registries Data Tool A common registry of  TP Rules Standards  Technology Standards  Master Data Automated Agreement and Integration at the speed and scale of the Internet