Simplified vs Full Transfer Pricing Documentation in Malaysia
Knowledge • Simplified vs Full Transfer Pricing Documentation in Malaysia
Knowledge • Simplified vs Full Transfer Pricing Documentation in Malaysia
The arm’s length principle is the international standard to determine transfer price and is applicable to all Malaysian taxpayers that entered into a controlled transaction. In Malaysia, taxpayers are required to prepare and maintain contemporaneous transfer pricing documentation annually to prove compliance with the arm’s length principle.
Transfer Pricing Solutions Malaysia can assist with the preparation of TP documentation locally and regionally, Master File and Local File
to comply with the OECD and also local legislation.
Inland Revenue Authority of Singapore (“IRAS”) offers a Voluntary Disclosure Programme (“VDP”) help taxpayers rectify these errors and minimize potential penalties.
The world of transfer pricing can be a complex and sometimes treacherous one, especially when disputes arise.