The Malaysian Transfer Pricing Guidelines 2012 have been updated by the Inland Revenue Board (IRB) of Malaysia to reinforce the existing standards based on current international taxation requirements. The updated Guidelines have been integrated in consistent with the Base Erosion and Profit Shifting (BEPS) Action Plan 8-10. The Chapters of the Guidelines that have been updated wef from 15 July 2017 are:-
• Chapter II – The Arm’s Length Principle
• Chapter VIII – Intangibles
• Chapter X – Commodity Transactions
• Chapter XI - Documentation
How does the updated Transfer Pricing Guidelines impact businesses?
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