РЕНТА НА МЕСТОПОЛОЖЕНИИ В ТРАНСФЕРТНОМ ЦЕНООБРАЗОВАНИИ

Abstract

Location rent describes the excess profits (if any) derived (principally or exclusively) from the existence and use of advantages specific to a particular location. The importance of introducing this concept arises from the need to distinguish between location savings (and location specific advantages, more generally) and any potential excess profits derived (mainly or exclusively) from them. This article examines situations where an MNE, whether as part of a relocation of activity or in its normal course of business, benefits in certain locations from a location specific advantageous access to factors of production and distribution that can be exploited to produce a particular product or service cheaper, better and/ or with less risk, or to increase the company’s ability to sell more products, at a higher price and/or achieve a larger market share, which in the short to medium term leads to excess profits (location rent) for the MNE, i.e., profit , exceeding the normal profit that the MNE receives in the normal course of business. Thus, excess profits derived from location rents should be treated separately from the profits derived from intangibles that the MNC earns in other comparable locations. According to the author, location rent can be considered an additional intangible asset specific to a given location.