Following the introduction of Transfer Pricing documentation in Cyprus, PwC organised a live webcast to discuss in more detail the Local File and Summary Table obligations, which will affect most of the Cyprus companies that engage in domestic and cross border transactions with related parties.
Watch our webcast to find out more on the required contents of the Cyprus Local File and the Summary Table and how affected persons should approach their preparation.
On 30th June 2022, the Cyprus Parliament approved the long-awaited amendments to the Cyprus tax legislation to introduce Transfer Pricing documentation compliance obligations (Master File, Cyprus Local File, Summary Table) for Cyprus tax resident persons and permanent establishments of non Cyprus tax resident persons situated in Cyprus, that engage in transactions with related parties. A formal Advance Pricing Agreement procedure has also been established.
Watch our webcast to find out more about the new transfer pricing regulations, how these affect your business and what should be your next steps.
Nicos P Chimarides
Partner, Tax & Legal Leader, PwC Cyprus
Director - Tax Advisory, Transfer Pricing, PwC Cyprus