The author examines whether there is a need for both transfer pricing rules and CFC provisions, and what outcomes should be expected where these rules are applied concurrently. An analysis is provided of the structure known as the Double Irish with a Dutch Sandwich and the structure involving a so-called cash-box company in an operating lease arrangement. Moreover, the author considers (i) whether CFC rules can act as a backstop to transfer pricing rules and (ii) whether the application of these two sets of rules could lead to double taxation.