Transfer Pricing: International Controlled Transactions Schedule
Technical consultation on the requirement for in-scope multinationals to report certain information about cross-border related party transactions to HMRC.
Detail
This technical consultation sets out the details of a draft International Controlled Transactions Schedule (ICTS) reporting requirement. The ICTS will facilitate automated, data-led risk assessment by HMRC, permitting more accurate identification of transfer pricing risk, improving fairness and increasing efficiency.
The government is seeking views on draft regulations, a draft HMRC notice and a draft template illustrating the information that would need to be filed annually.
Documents