SARS - Draft Public Notice Requiring The Submission Of CbC, Master File And Local File Returns

This draft public notice requires specified persons to submit returns in respect of transfer pricing documentation for reporting fiscal years and financial years commencing on or after 1 January 2016.

The proposed deadline for submission will be 12 months from the last day of the reporting fiscal year, in the case of country-by-country returns, and 12 months from the last day of the financial year, in the case of the master file and local file.

The information to be included in respect of each of the master file, local file and country-by-country report is specified in the External Business Requirements Specification: Country-by-Country and Financial Data Reporting (“BRS”).

Source: ENSafrica, SARS1, SARS2

ENSafrica is TPA Global Alliance Partner in South Africa.

TPA Africa Desk

Transfer Pricing Associates introduces TPA AFRICA Desk. If you have any questions, or need more detailed advice on any aspects of transfer pricing or taxes, please get in touch with us. The TPA Global network has alliance partners throughout Africa, and the network can provide multi-disciplinary approach on today’s critical transfer pricing challenges faced by multinational enterprises.

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