Tuesday, 9 August 2016

Austria implements transfer pricing documentation, country-by-country reporting requirements

The Austrian Parliament on July 14, 2016 enacted legislation that introduces mandatory transfer pricing documentation requirements as defined in Action 13 of the OECD’s Action Plan on Base Erosion and Profit Shifting (BEPS). A corresponding Ministerial Ordinance was published in draft on May 25, 2016.

The legislation follows the three-tiered approach to transfer pricing documentation requiring multinational enterprises (MNEs) to prepare a Master File, a Local File, and a country-by-country (CbC) Report.

According to the legislation, the new regulations on transfer pricing documentation are effective as of January 1, 2016.

Source & more info: PwC