Business Assurance employees underwent advanced training in transfer pricing

Трансфертное ценообразование
October 3, 2024

On September 26 and October 2, 2024, Business Assurance employees underwent advanced training in transfer pricing (a programme for professionals).

Transfer pricing – pricing in business transactions between interdependent persons.

In Belarus, transfer pricing legislation has been in force since January 1, 2012, and since January 1, 2019, it is regulated by Chapter 11 of the Tax Code of the Republic of Belarus (TC RB) “Principles for determining the price of goods (works, services), property rights for tax purposes”. The provisions of Chapter 11 of the TC RB are interrelated with the approaches of the Management of the Organization for Economic Cooperation and Development (OECD) on transfer pricing.

One of the main requirements of the legislation of the Republic of Belarus is that prices in transactions between related parties for the purposes of calculating income tax must correspond to the market level.

All transactions between related parties and some other transactions are controlled by the tax authorities for the regulation of transfer prices. In such cases, the tax authorities have the right to compare the prices applied by taxpayers with market prices and to charge additional income tax in case of deviations from market prices.

The use of “non-market” prices in the analyzed transactions may lead to the accrual of:

  • Income tax based on the difference between actual and market prices;
  • Fine for non-payment or incomplete payment of tax;
  • Penalties.

The payer of income tax is obliged to provide information about the controlled transaction made by them in the tax period. Failure to submit documentation on the TPF at the request of the tax authority is one of the grounds for conducting a tax audit.

Our company is ready to offer its services in transfer pricing diagnostics and preparation of documentation confirming the economic validity of the applied prices in accordance with the requirements of Chapter 11 of the TC RB.

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