Date of Publication: 11 November 2022
The objective of the Malaysian Transfer Pricing Guidelines (“TP Guidelines”) is to explain the provision of Section 140A in the Income Tax Act 1967 (“ITA”) and the Transfer Pricing Rules 2012. This TP Guideline applies to the transactions between the associated persons based on arm’s length principle.
The Malaysia Inland Revenue Board issued a template for preparing a minimum Transfer Pricing Documentation (“TPD”) to assist taxpayers which fall outside the scope of Paragraph 1.3.1 of the TP Guidelines. Paragraph 1.3.1 requires taxpayer which fulfil the following criteria to prepare contemporaneous TPD:
Taxpayers who do not fall within the above criteria may opt to prepare a minimum TPD under Paragraph 11.2.4 (a), (c) and (d) of the TP Guidelines.
For the minimum transfer pricing documentation template, kindly click HERE.
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