Higher Thresholds for Transfer Pricing and Local File Requirements

On 1st February 2024 the Tax Department has issued an announcement that in anticipation of legislative amendments on transfer pricing provisions they will apply higher thresholds for Local File requirements, from the year 2022 onwards.  
 
More specifically:
– The threshold for the category of financing transactions increases from €750.000 to €5.000.000.
– The threshold for all other categories of transactions (Goods, Services, Royalties and Other transactions) increases from €750.000 to €1.000.000.

It must be noted that transactions below the above thresholds are subject to simplified transfer pricing provisions and safe harbour rules, where applicable, as per the Circular 6/2023.

How can we help?
For more information and assistance with respect to your Transfer Pricing Documentation please contact us at our phone: 22484429 or at [email protected]