The Cyprus Tax Department (CTD) announced further developments concerning the Cyprus transfer pricing (TP) rules on Monday, 27 May, 2024.
These updates include detailed information on the filing process for the summary information table (SIT). Furthermore, the CTD has clarified the quality assurance review procedure for local files.
The recent developments mandate that the SIT must be filed on the Tax For All (TFA) portal.
On 21 May, 2024, the CTD issued guidance on the completion of the SIT. Taxpayers not yet registered with TFA will need to register and link their tax identification code to the portal to submit the SIT.
Additionally, taxpayers can manage the appointment of representatives for SIT filing purposes.
The quality assurance review certificate (QARC) template for local files was published by the CTD in a letter sent to the Institute of Certified Public Accountants of Cyprus on 24 May, 2024.
The QARC will also be uploaded to the TFA portal alongside the SIT.
