International group reporting and transfer pricing records under prescribed thresholds, Form No. 56 filing, and nine-year maintenance requirements. Maintenance and furnishing of prescribed information and documents by a constituent entity of an international group is required where the consolidated group revenue and aggregate value of international transactions exceed the specified thresholds. The records cover the group structure, business profile, supply chain, service arrangements, transfer pricing policies, intangible property, financing arrangements, annual consolidated financial statement, and relevant tax rulings. The information is furnished in Form No. 56 by the due date, with Part A required even if the conditions are not met, and the records must be retained for nine years.
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Provisions expressly mentioned in the judgment/order text.
International group reporting and transfer pricing records under prescribed thresholds, Form No. 56 filing, and nine-year maintenance requirements.
Maintenance and furnishing of prescribed information and documents by a constituent entity of an international group is required where the consolidated group revenue and aggregate value of international transactions exceed the specified thresholds. The records cover the group structure, business profile, supply chain, service arrangements, transfer pricing policies, intangible property, financing arrangements, annual consolidated financial statement, and relevant tax rulings. The information is furnished in Form No. 56 by the due date, with Part A required even if the conditions are not met, and the records must be retained for nine years.
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