In a major victory for the taxpayer, the federal court in Australia found in favor of Glencore, a mining firm, and ruled that the terms between the Glencore Australian subsidiary and its Swiss trader parent for the sale of copper concentrate were within an arm’s-length range. In a KPMG analysis of the case, the decision “reinforces that evidence is key and taxpayers should direct their attention to gathering a combination of evidence” that includes an analysis of comparable transactions that are characteristic of typical arm’s-length arrangements and “via independent expert opinion where issues are more complex.” The case is Glencore Investment Pty Ltd v Commissioner of Taxation of the Commonwealth of Australia [2019] FCA 1432.