Italian taxpayers welcome clearer guidelines
June 23, 2010
Transfer pricing documentation requirements introduced under Law decree number 78 will provide clearer guidance for Italian taxpayers.
The requirement, set out in article 26 of decree 78, that multinational companies engaged in cross-border intra-group transactions prepare contemporaneous documentation in support of their transfer prices, will allow the taxpayer to avoid the penalty payments if the tax authority disagrees with their pricing.
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