Venezuela transfer pricing authorities flex their muscles
November 24, 2010
Erin Kelechava in New York TPW
Venezuelan tax authorities have penalised 68 taxpayers that failed to comply with the country’s transfer pricing rules.
The Venezuelan Tax Administration (SENIAT) claims that the taxpayers either did not file the required documentation or did not apply the correct transfer pricing methodology that was established in the Venezuelan income tax law (VITL) for intercompany transactions which occurred during 2009 and 2010.
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