With the new transfer pricing changes in Malaysia and the new transfer pricing documentation standard, a benchmarking analysis that is reliable and defendable, is key when preparing transfer pricing documentation. For this reason, we have compiled four key tips that will help you get a benchmarking analysis right.
Transfer Pricing Solutions Malaysia can assist with the preparation of Transfer Pricing Documentation locally and regionally, Master File
and Local File, local and regional benchmarking searches.
With increasing scrutiny, transfer pricing audits are becoming more common. Failure to comply with documentation requirements can lead to significant penalties.
The IRBM has recently issued a Frequently Asked Questions to address the questions taxpayers and tax professionals regarding the Transfer Pricing Surcharge.
Malaysia taxpayers will be required to include the date on which their contemporaneous TP documentation is completed from YA 2023.