Deadlines for preparing transfer pricing documentation for 2020 have been extended

23 April 2021

The deadlines for filing a transfer pricing information return and a statement on the preparation of the local file have been extended:

• until 30 September 2021– for entities for whom the deadline expires between 1 February 2021 and 30 June 2021;
• by 3 months – for entities for whom the deadline expires between 1 July 2021 and 31 December 2021.

Thus, taxpayers whose tax year was from 1 January 2020 to 31 December 2020 have time until 31 December 2021 to meet their transfer pricing obligations for 2020.

Transfer pricing in the context of COVID-19

As the COVID-19 pandemic has affected the economic situation of many taxpayers and their immediate competitive environment, it is particularly important to duly document transactions performed with associated enterprises and to confirm their arm's length nature.

We recommend starting preparing transfer pricing documentation for 2020 well in advance - so as to enable an accurate analysis of the situation and to fulfil the respective obligations on time.

For more information, see our brochure Transfer Pricing Documentation 2020.