Transfer Pricing Documentation Filing
In the case of the supporting documentation, it is expressly subject to the request of the Tax Administration. On the other hand, the Transfer Pricing Declaration (Form 982) must be filed within the first three months of the fiscal year.
Entities Obligated to File the Transfer Pricing Studies
According to the Transfer Pricing guidelines contained in Article 62-A of the Tax Code, taxpayers performing related-party transactions must determine their prices based on market prices, i.e., prices agreed upon by independent parties.
Filing Documentation
- Information Transfer Pricing Statement – Form 982
- Supporting Documentation
Filing Situation
As stipulated in Article 124-A of the Tax Code, taxpayers performing transactions with parties related, domiciled, constituted, or located in tax havens during a fiscal year, either individually or jointly, equal to or exceeding $571,429.00 must file a Report of the transactions performed with such subjects, through Form-982.
Keeping Time for the Prepared Documentation
Article 147 of the Tax Code stipulates those persons or entities, whether or not taxpayers, responsible parties, withholding or perception agents, auditors, or accountants, must keep in good order and condition for ten years from their issuance or receipt the information and documentation that may serve as evidence to be provided when requested through a financial audit.
Filing Non-Compliance
Failure to file the report or the corresponding statement will generate the infraction typified in section b), Article 241 of the Tax Code to file the reports established by the Tax Administration after the deadline. The penalty will be a fine equivalent to 0.5% of the asset value of the taxpayer who commits the infraction.
Source: Dirección General de Impuestos Internos (DGII)
