Stamp duty - no need to memorise
4 important questions on Stamp duty - no need to memorise
When are companies required to prepare a Contemporaneous Transfer Pricing Document according to IRB guidelines?
- Gross income > RM25 mil and total controlled transactions > RM15 mil
- Financial assistance to associated person exceeds RM50 million
What should a Transfer Pricing Document contain?
- Organizational Structure
- Group financial report
- Nature of business/industry and market conditions
- Controlled transactions details
- Pricing policies
- Assumptions, strategies, and information
- Comparability, functional, and risks analysis
- Selection of transfer pricing method
- Application of the transfer pricing method
How soon must TP documentation be furnished upon IRBM request?
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What are the penalties for non-compliance with transfer pricing documentation requirements?
- Fine between RM 20,000 to RM 100,000
- Imprisonment for not exceeding six (6) months
- Both fine and imprisonment
- Surcharge of up to 5% of the increase of income or reduction of any deduction
The question on the page originate from the summary of the following study material:
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