Filing of documentation in India before 31 March 2018

Specific transfer pricing documentation for the accounting year 2016-2017 has to be filed with the Indian Tax Authorities on or before the due date of 31 March 2018.

Out of the 15 OECD BEPS Actions Plans, one such Action Plan that is gripping the attention of every MNE under the sun is the minimum standard ‘Action Plan 13 – Transfer Pricing Documentation and Country-by-Country Reporting’. India first adopted the approach of Action Plan 13 by amending the Finance Act 2016 to provide for requirement and maintenance of transfer pricing documentation in the form of Country-by-Country Reporting and Master File from the Fiscal Year 2016-17. Accordingly, India has notified Master File and CbCR documentation requirements.

While the requirement to furnish CbCR in India is subjected to a consolidated group turnover threshold of INR 55 billion, the Indian Master File is subject to two threshold tests. The first threshold being the group consolidated turnover of INR 5 billion or more and the second threshold being aggregate value of international transactions of INR 500 million (on all international transactions) or INR 100 million of intangible international transactions. Combined, both the CbCR and Master file are more like blueprints of the MNE’s group business worldwide.

Together with our Indian alliance partner, Quantera Global already assists MNEs in drafting and filing the required documentation. For more information on the specific forms that have to be filed, please click Alert Filing in India due before 31 March 2018.

Contact us if you need any help in this regard, or call us on +31 88 221 5800.