On 30 June 2022 the Cyprus parliament has voted into law the long-anticipated documentation requirements on transfer pricing (law and regulations). The law and regulations are aligned with the recommendations set forth in the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations published by the OECD.
The documentation requirements apply to Cypriot tax resident persons and Permanent Establishments (PE’s) of non-tax resident entities for certain transactions undertaken with related parties. The aim of the new law and regulations is to ensure compliance of covered entities with the arm’s length principle.
Interested persons are encouraged to read the informative leaflet that was prepared by the dedicated transfer pricing team of KPMG in Cyprus and reach out if more information or assistance is needed.
How can KPMG assist?
Should you like to further discuss the content of the legislation and potential impact to your business, please contact one of our trusted advisors from the Tax department at KPMG in Cyprus.
George Markides
Board Member
Head of Tax Services
KPMG Limited
Costas Markides
Board Member
International Tax Services
KPMG Limited
Michalis Loizides
Board Member
Tax & Legal Services
KPMG Limited
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Michael Halios
Board Member
International Tax Services
KPMG Limited
Katia Papanicolaou
Board Member
Direct Tax Services
KPMG Limited
Volodymyr Serdechniuk
Senior Manager
Transfer Pricing Services
KPMG Limited
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