Cyprus: Transfer pricing documentation legislation

The long-anticipated transfer pricing documentation requirements passed in parliament.

The long-anticipated transfer pricing documentation requirements passed in parliament.

The Cyprus parliament recently passed long-anticipated transfer pricing documentation requirements.

The documentation requirements apply to Cypriot tax resident persons and permanent establishments of non-tax resident entities for certain transactions undertaken with related parties.

The aim of the new documentation requirements is to ensure compliance of covered entities with the arm’s length principle, and the requirements are aligned with the recommendations set forth in the OECD’s transfer pricing guidelines.

Read a July 2022 report prepared by the KPMG member firm in Cyprus 


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