The Portuguese Secretary of State for Tax Affairs has extended the deadline for filing the transfer pricing documentation from 15 July 2024 to 31 July 2024.
The extension was granted by Order 43/2024-XXIV, issued on 27 June 2024.
Transfer pricing documentation refers to the set of documents and information that multinational enterprises (MNEs) and large corporations must prepare and maintain to support the pricing of transactions between related entities (such as subsidiaries, branches, or affiliates) in different tax jurisdictions.
This documentation is essential for demonstrating that transfer prices are set in accordance with the arm’s length principle, which requires that transactions between related parties be priced as if they were conducted under similar conditions by unrelated parties.
The content and requirements for transfer pricing documentation vary by jurisdiction but typically include details such as a description of the controlled transactions, analysis of comparables, economic analysis, and supporting financial data.
