The principle of transfer pricing is the pricing of goods, services and so on in related party transactions surrounded by multinational enterprises to fulfill the conditions for a self-governing business relationship or to meet the arm’s length principle. Someone involved in financial or business transactions with entities connected to them must maintain transfer pricing documentation. This responsibility is binding both for transactions with legal entities and with individuals with no exception. The Finance Ministry has published a Guidelines No. MF/014283/2016-724 regarding the content of documentation on the transfer pricing method applied by a taxable person that replaces the previous guidelines in 2015, also include a definition of related parties due to economic linkage due to direct or indirect participation of the state, municipalities or higher territorial units in assets, control or management. It applies for 2015 tax period. This guidance specifies the documentary obligations of public interest entities, central administrations and entities with direct or indirect government, municipal or higher territorial unit participation came into force in 14th of July 2016.
PGA Highlights: July 2016
»
Related Posts
Slovak Republic consults excise duty law amendment
The Slovak Republic’s Ministry of Finance has launched a public consultation on a proposed bill (No. MF/002387/2024-732); which aims to amend the Excise Duty Act concerning electricity, coal, and natural gas, as well as the Excise Duty Act on
Read MoreKyrgyzstan ratifies income tax treaty with Slovak Republic
Kyrgyzstan's President Sadyr Japarov signed the law ratifying the pending income tax treaty with the Slovak Republic on 19 November 2024. The treaty, signed on 13 March 2024. This agreement seeks to prevent double taxation and tax
Read MoreMoldova: Cabinet of Ministers approve ratification of amending tax treaty protocol with Slovak Republic
Moldova's Cabinet of Ministers approved ratification of the protocol to the 2003 tax treaty with the Slovak Republic on 13 November 2024. The protocol marks the first amendment to the treaty, incorporating changes that align it with BEPS and
Read MoreSlovak Republic considers abolishing financial transaction tax
The Slovak Republic’s Parliament has agreed to consider a draft bill to abolish the financial transaction tax (FTT), on 6 November 2024, due to its negative impact on businesses and potential conflicts with the country’s Constitution and
Read MoreSlovak Republic issues guidance on reintroduced minimum tax
The Slovak Republic Financial Administration released Document No. 13/PO/2024/IM, offering guidance on paying minimum tax or tax licences on 28 October 2024. The Slovak Republic has reinstated the obligation for companies to pay a minimum tax
Read MoreSlovak Republic issues tax return form for sugary beverages
The Slovak Republic Ministry of Finance released the tax return form and the related instructions for the new tax on sweetened soft drinks, effective 1 January 2025. Earlier, the Slovakian Parliament enacted the Sugar Tax Act targeting sweetened
Read More