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Transfer Pricing Compliance and Documentation

Jitendra Tax Consultants (JTC) and its associate Jitendra Chartered Accountants (JCA) deliver robust transfer pricing compliance services in Dubai under their flagship brand Tax Gian. This service includes providing assistance in creating transfer pricing strategies and help for meeting the UAE transfer pricing documentation and compliance requirements.

Tax Gian consists of a team of highly qualified transfer pricing advisers in Dubai who can help you develop a robust strategy for transfer pricing compliance and documentation.

Transfer Pricing Compliance & Documentation Solutions

Our transfer pricing experts in the UAE can help you:

  • Prepare contemporaneous documentation as per the UAE transfer pricing requirements
  • Review your existing documentation
  • Prepare guidelines and procedures to keep your documentation up to date

UAE Transfer Pricing Documentation Requirements

The five transfer pricing documentation requirements as per the UAE transfer pricing guidelines are:

  • Transfer Pricing disclosure form
  • Master File
  • Local File
  • Country-by-Country Report (CbCR)
  • Additional supporting information

Our Transfer Pricing Documentation Services

Preparation of transfer pricing Documents in compliance with the UAE transfer pricing guidelines and OECD guidelines

  • Preparation of Master File and Local File
  • Preparation and filing of transfer pricing disclosure form
  • Preparation and submission of CbCR
  • Intercompany Transfer Pricing Policy development
  • Intra-group services and agreements
  • Identifying risks and gaps in documentation
  • Comprehensive documentation management
  • Performing benchmark analyses
  • Audit defence during discussion with the FTA
  • Compliance support
  • Data collection and analysis related to documentation
  • Addressing any transfer pricing queries raised by the FTA

Benefits of Maintaining Transfer Pricing Documentation

Maintaining transfer pricing documentation in the UAE will help you achieve exclusive benefits such as:

  • Help you comply with Tax Regulations
  • Avoid the risk of transfer pricing disputes
  • Improving Tax Risk Management
  • Help you make informed business decisions
  • Demonstrate Arm’s Length Principle (ALP) compliance
  • Support Advance Pricing Agreements (APAs)
  • Maintain a positive image in front of the FTA

Our Approach Towards Transfer Pricing Documentation

Our team of transfer pricing specialists in Dubai will provide you with tailor-made documentation solutions. Our approach is marked by:

  • Personalized assistance
  • Accurate assessment and reviews
  • Globally consistent and locally flexible approach
  • Practical and cost-effective services
  • A penchant for robustness
  • Qualified professionals and tax advisers

Frequently Asked Questions (FAQs)

  1. Who is required to maintain transfer pricing documents?

Taxable persons who must maintain transfer pricing documentation, including the Master File & Local File, are:

A Taxable Person who, during the applicable Tax Period, had a total consolidated group Revenue of AED 3,150,000,000 (three billion one hundred and fifty million United Arab Emirates dirhams), or furthermore, is a Multinational Enterprises Group as stated in Cabinet Decision No. 44 of 2020. OR

A taxpayer whose revenue for the applicable tax period is AED 200,000,000 (two hundred million United Arab Emirates dirhams) or higher.

  1. Is transfer pricing documentation a one-time requirement?

No, transfer pricing documentation is an ongoing requirement. Companies should review, update and maintain their documentation regularly to reflect changes in business operations and comply with the latest regulations.

  1. What is the recommended timeframe for reviewing and updating the TP Documentation by a taxpayer?

Our transfer pricing advisers in the UAE recommend conducting an annual review of your transfer pricing documentation to ensure the accuracy and relevance of functional and economic analyses and to validate the applied transfer pricing methodology.

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