Transfer Pricing

In the practice of corporation tax, a tax loss is not merely a negative result for a given tax year, but a factor that affects the amount of tax liabilities in subsequent years. However, it can only be utilised if strictly defined conditions are met.  

In today’s global business environment, transactions between related parties are the order of the day. As a result, tax authorities are increasingly focusing on controlling transfer pricing to prevent erosion of the tax base and shifting of profits to lower-tax jurisdictions. One of the key responsibilities of companies is to prepare appropriate transfer pricing documentation within certain deadlines. In this article, we will outline the most important deadlines related to transfer pricing documentation and tips on how to prepare for them.