The documents detail an intelligence-gathering effort by the United States and Mexican authorities, targeting more than 50 people including journalists, an.
Monday, 24 May 2021 06:41 PM MYT
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MAY 24 With the recent tightening in transfer pricing (TP) requirements and increasing tax audit activity in Malaysia, this is a good time for Malaysian companies to review and improve their TP practices.
TP is a tax concept which requires group companies to transact at market prices with one another, similar to transactions between independent companies. Since 2009, Malaysia has TP rules in place, which require companies to prepare TP documentation to demonstrate the arm’s length nature of their intercompany transactions (also referred to as “controlled transactions”), such as sale of goods/services, licensing of intellectual property, etc. Penalties are applicable for non-compliance of TP rules.