Portugal extends the deadline to submit the TP file

11 July, 2022

On 6 July 2022, the government announced that it would extend the transfer pricing (TP) deadlines for preparation and/or submission to the tax authority. The deadline is extended from 15 July to 15 September 2022 without any accruals or

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Cyprus: Parliament adopts new transfer pricing legislation

10 July, 2022

On 30 June 2022, the Cyprus House of Representatives enacted detailed transfer pricing legislation amending the Cyprus Income Tax Law (ITL) and the issuance of Regulations. The amendment includes the new TP documentation requirements and a framework

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Kenya: President gives assent to the finance act 2022

28 June, 2022

On 21 June 2022, Kenya’s President has given his assent to the Finance Act 2022 which was presented to the Parliament on 13 April 2022. The act contains following tax measures mostly take effect on 1 July 2022. The Bill proposed to introduce

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Dominican Republic: DGII publishes clarifications on CbC Reporting for MNE

25 June, 2022

On 22 June 2022, the Directorate General of Internal Revenue (DGII) published a Notice (No. 18-22) clarifying Country-by-Country Reporting (CbC) for Multinational Enterprises (MNEs). The notice includes the following procedures: Submit CbC

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OECD: Tax Administration 2022

23 June, 2022

On 23 June 2022 the OECD’s Forum on Tax Administration (FTA) issued Tax Administration 2022, which is the tenth edition of the report. The report sets out internationally comparative data on various features of tax systems and tax

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Qatar: Tax authority updates master file and local file submission deadline

18 June, 2022

On 8 June 2022, the General Tax Authority (GTA) of Qatar issued Decision No. 10 of 2022 that amends certain provisions in Decision No. 4 of 2020 to clarify that the deadline for filing the transfer pricing Master File (MF) and Local File (LF) is 60

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Ukraine clarifies transfer pricing requirements under martial law

11 June, 2022

On 2 June 2022, the Ukrainian State Tax Service (STS) has published a notification that clarifies transfer pricing requirements under martial law conditions in Ukraine, taking into account of COVID-19 situation. Transfer pricing

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Poland: MoF publishes draft decree changing the TP reports

06 May, 2022

On 25 April 2022, the Polish Ministry of Finance published a draft decree to change the scope of data and information to be disclosed via transfer pricing reports. The changes introduced by the draft decree include limiting the scope of transfer

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Denmark introduces new filing requirements for TP documentation

03 May, 2022

Recently, the Danish Ministry of Finance introduced an obligation to file a transfer pricing documentation (TPD) with the Danish Tax Authorities on an annual basis. For the financial years beginning on or after 1 January 2021, the new law requires

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Kenya: Transfer pricing measures in Finance Bill 2022

27 April, 2022

On 12 April 2022, the Finance Bill 2022 was presented in the National Assembly of Kenya, which provides following tax measures related to transfer pricing. The Bill aims to amend Section 18(A) of the ITA to include transactions between residents

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Zambia: Government implements budget tax changes for 2022

26 April, 2022

Recently, the Zambian Government has published Practice Note No. 1/2022 which provides an overview of the various 2022 tax changes implemented through the Budget 2022 Amendment Acts. The most important changes are summarized below: Corporate

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Paraguay issues resolution on TP reporting requirements

25 April, 2022

On 7 April 2022, the tax authority of Paraguay has issued General Resolution No. 115/2022, which provides detailed rules on the preparation and submission of the transfer pricing (TP) reporting requirements as per Law No. 6380/2019 and

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Oman publishes guidelines to clarify CbC reporting obligations

23 April, 2022

In March, the Tax Authority published guidance clarifying the country-by-country (CbC) reporting requirements of multinational corporations (MNEs) operating in Oman. The guide provides a general overview of the CbC reporting requirements as part of

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Croatia: Tax Administration declares CbC notification deadline

18 April, 2022

On 11 April 2022, the Tax Administration declared that the notification deadline for submitting Country-by-Country (CbC) report until 2 May 2022. This deadline applies for multinational entities

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Hong Kong: IRD extends the CbC notification deadline

28 March, 2022

On 18 March 2022, the Hong Kong Inland Revenue Department issued a press release announcing an extension of the CbC notification deadline for accounting periods ending between 31 December 2021 and 28 February 2022. Under section 58H of the

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Angola revises number of large taxpayers required to prepare TP documentation

28 March, 2022

On 15 March 2022, the Ministry of Finance of Angola has issued Order No. 1083/22 through which the list of the large taxpayers has been revised subject to the preparation of transfer pricing (TP) documentation. The listed large taxpayers must

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Sweden Updates CbC reporting guideline

20 March, 2022

On 14 March 2022, the Swedish Tax Agency updated the country-by-country reporting (CbC) guidelines for multinational companies (MNEs). The guidelines introduced the following updates: 1) Annual notification requirements for Swedish

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Nigeria: FIRS posts digital FAQs regarding transfer pricing

20 March, 2022

On 15 March 2022, the Federal Inland Revenue Service (FIRS) made a post of frequently asked questions and answers (FAQs) related to transfer pricing (TP) through online. This includes applicable regulations and their scope; documentation

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