TRANSFER PRICING COMPLIANCE [LOCAL FILE & MASTER FILE]

Transfer Pricing - Compliance (Local File & Master File)

Base Erosion and Profit Shifting (BEPS) Action Plan 13 sets the minimum standard for Transfer Pricing documentation. 

UAE, being a member of the BEPS Inclusive Framework, has initiated action and formulated Regulations to ensure it all documentation in relation to Transfer Pricing is being adhered to.

OECD has defined a three-tiered standardized approach for transfer pricing documentation containing master file, local file, and Country-by-Country Report.

• Local File: Provide an entity and transaction-level transfer pricing analysis for each jurisdiction. It is to be filed locally with the tax authorities in each jurisdiction
• Master File: Provide a high-level view of a company’s business operations and global transfer pricing policies. It is to be filed locally with the tax authorities in each jurisdiction
• Country-by-Country Report: Provide a global financial snapshot of a multinational enterprise. It shall be filed by the ultimate parent company in tax jurisdiction.

Further, Tax authorities are actively devoting significant resources to transfer pricing issues. 

Our objective is to significantly alleviate your compliance burden by creating robust, contemporaneous, and defensible reports well within your budget and on time.

Professionals at Emirates Chartered Accounts Group (ECAG) are fully equipped to guide you in the preparation and maintenance of Documentation. We can provide you following services to ensure you are compliant with all the Regulations of Transfer Pricing in the UAE: 

• Maintenance of robust documentation as per overseas jurisdiction requirements.
• Assisting in compilation of ‘Master file’ and ‘Local File’.
• Assisting in filing the Transfer Pricing details as required by the Regulation
• Issuing the Transfer Pricing Audit Report for Statutory Compliances, whenever required.