Transfer pricing documentation: submission of notification of controlled transactions
For what purposes transfer pricing is used
All companies whose transactions fall under the controlled category must submit notifications to the tax inspectorate by May 20, 2022. At the same time, starting from June 1, 2022, the tax authorities have the right to request documentation from companies confirming the level of transfer prices applied by them in controlled transactions last year.
Procedure for determining prices for tax purposes
The order of application of price determination methods
Submission of notification of controlled transactions
Analyzing transactions and preparation of transfer pricing documentation is a necessary precondition for effective preparation and filing of reports to tax authorities. Considering the deadline for filing the reports, it is now the right time to start their preparation, as well as to draft a plan for elaboration (if it has never been developed before), or update transfer pricing documentation for transactions conducted in the previous year.
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