Profit shifting has become a bane to the economic development of West African countries because it has robbed them of developmental funds. Profit shifting is a process as well as a tool employed by Multinational corporations to move funds from a high tax jurisdiction to a low tax jurisdiction. One of the methods of profit shifting is through transfer pricing which is a pricing system that exists within a controlled group. In view of the nature of transfer pricing determination, issues on transfer pricing have continued to generate heated debate in Africa in general and West Africa in particular. The reason for this is not far from the fact that West African countries are amongst the developing economies of the world which have become fertile ground for new investments opportunities. On this backdrop, this paper attempts to examine the issues associated with transfer pricing dynamics. The study employs an explorative research design where prior literature that borders on issues associated with transfer pricing in Africa and West Africa sun region were reviewed. The study identifies some challenges that have militated against the development of an African specific TP framework being one of the main issues that have remained unresolved in African TP regime. Amongst the recommendations made is the call for ATAF to as a matter of urgency develop an African specific TP framework which will form a foundation for countries in Africa and West Africa sub region in developing TP regulations.
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