These Regulations give effect to the record keeping requirements in the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations 2022.
The Commissioners for His Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by section 12B(3A), (5BA) and (5C) of the Taxes Management Act 1970, paragraph 21(5A), (5AA) and (5B) of Schedule 18 to the Finance Act 1998and paragraph 7 of Schedule 5 to the Finance (No. 2) Act 2023.