Because the tax administration’s ultimate interest would be satisfied if the necessary documents were submitted in a timely manner when requested by the tax administration in the course of an examination, the way that documentation is stored – whether in paper, electronic form, or in any other system – should be at the discretion of the taxpayer provided that relevant information can promptly be made available to the tax administration in the form specified by the local country rules and practices.
TPG2022 Chapter V paragraph 5.36
Posted on |
By OECD
Category: OECD Transfer Pricing Guidelines (2022), TPG2022 Chapter V: Transfer Pricing Documentation | Tag: Retention of documents, Transfer pricing documentation
« Prev |
Next » Related Guidelines
- TPG2022 Chapter V paragraph 5.35Taxpayers should not be obliged to retain documents beyond a reasonable period consistent with the requirements of domestic law at either the parent company or local entity level. However, at times materials and information required in the documentation package (master file, local file and Country-by-Country Report) may be relevant to...
- TPG2022 Chapter V paragraph 5.27Each taxpayer should endeavour to determine transfer prices for tax purposes in accordance with the arm’s length principle, based upon information reasonably available at the time of the transaction. Thus, a taxpayer ordinarily should give consideration to whether its transfer pricing is appropriate for tax purposes before the pricing is...
- TPG2022 Chapter V paragraph 5.26Annex III to Chapter V of these Guidelines contains a model template for the Country-by-Country Report together with its accompanying instructions....
- TPG2022 Chapter V paragraph 5.25The Country-by-Country Report will be helpful for high-level transfer pricing risk assessment purposes. It may also be used by tax administrations in evaluating other BEPS related risks and where appropriate for economic and statistical analysis. However, the information in the Country-by-Country Report should not be used as a substitute for...
- TPG2022 Chapter V paragraph 5.24The Country-by-Country Report requires aggregate tax jurisdiction-wide information relating to the global allocation of the income, the taxes paid, and certain indicators of the location of economic activity among tax jurisdictions in which the MNE group operates. The report also requires a listing of all the Constituent Entities for which...
- TPG2022 Chapter V paragraph 5.23Annex II to Chapter V of these Guidelines sets out the items of information to be included in the local file....
- TPG2022 Chapter V paragraph 5.22In contrast to the master file, which provides a high-level overview as described in paragraph 5.18, the local file provides more detailed information relating to specific intercompany transactions. The information required in the local file supplements the master file and helps to meet the objective of assuring that the taxpayer...
- TPG2022 Chapter V paragraph 5.21Annex I to Chapter V of these Guidelines sets out the information to be included in the master file....
- TPG2022 Chapter V paragraph 5.20Taxpayers should present the information in the master file for the MNE group as a whole. However, organisation of the information presented by line of business is permitted where well justified by the facts, e.g. where the structure of the MNE group is such that some significant business lines operate...
- TPG2022 Chapter V paragraph 5.14In situations where a proper transfer pricing risk assessment suggests that a thorough transfer pricing audit is warranted with regard to one or more issues, it is clearly the case that the tax administration must have the ability to obtain, within a reasonable period, all of the relevant documents and...