Tax News 2014/7- Transfer Pricing Documentations

31 May 2014, the deadline for submitting corporate income tax declarations is approaching; and, at the same time, the preparation of the transfer pricing documentations is also due.

Companies with calendar business year have to comply with the modifications of the governing decree prescribing the documentation obligation – effective as of 21 June 2013 – first related to the 2013 documentation obligation. Although, the modifications resulted in simplification and less administration, the Tax Authority still pays special attention to this field, and the possible penalties in case of incomplete documentations haven't decreased either.

In our present newsletter, we provide a short summary of the new rules to be first applied during the preparation of the documentations for 2013.

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