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Turnover is a relevant comparability factor in software development services under TNMM because scale affects profitability through economies of scale, bargaining strength and asset-risk profile; on that basis, the Tribunal excluded high-turnover companies from the final comparable set. It also accepted exclusion of three additional companies on the same reasoning. On delayed trade receivables, the Tribunal held that deferred receivables can constitute an international transaction, and that working capital adjustment does not automatically absorb invoice-wise delay beyond the agreed credit period. The interest adjustment was sustained in principle, but recomputation was directed after netting receivables and payables with the same associated enterprise and applying LIBOR plus 200 basis points for foreign-currency invoices.
Turnover is a relevant comparability factor in software development services under TNMM because scale affects profitability through economies of scale, bargaining strength and asset-risk profile; on that basis, the Tribunal excluded high-turnover companies from the final comparable set. It also accepted exclusion of three additional companies on the same reasoning. On delayed trade receivables, the Tribunal held that deferred receivables can constitute an international transaction, and that working capital adjustment does not automatically absorb invoice-wise delay beyond the agreed credit period. The interest adjustment was sustained in principle, but recomputation was directed after netting receivables and payables with the same associated enterprise and applying LIBOR plus 200 basis points for foreign-currency invoices.
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