Transfer Pricing Deadline Update
It is a busy time for companies whose tax year coincides with the calendar year. The last day of October marked the deadline for filing local transfer pricing documentation for 2022, and the deadline for submitting TPR-P or TPR-C forms elapses on 30 November.
With all the extensions granted during the COVID-19 pandemic, this year’s shorter deadlines and new requirements came as a shock to many taxpayers. Not only do they have to make additional calculations, but they also have less time to do so.
Flooded with requests and enquiries, the Ministry of Finance has announced that the fast approaching deadline for submitting the TPR-P or TPR-C forms with transfer pricing information may be extended until the end of February 2024, but the final decision has yet to be announced.
Penteris Junior Tax Associate Klaudia Szczepanowska warns that failure to meet the statutory deadlines carries the risk of sanctions, including exorbitant fines, which may exceed PLN 33 million (approx. EUR 7.5 million).
Originally published 30.10.2023 in prawo.pl