• Service: Tax, Global Transfer Pricing Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 7/14/2014

Czech Republic - New BEPS-inspired statement for related-party transactions 

July 14:  The Czech tax administration has introduced a new attachment that will be required for reporting certain related-party transactions and filed with the taxpayer’s tax return.

Partly inspired by the OECD’s BEPS (base erosion and profit shifting) plan, the new mandatory attachment is intended to allow for the systematic collection of basic information on selected transactions with related parties—such as the residence of the related parties, the transaction volume, and an overview of the transaction.

It is anticipated that the Czech tax administration will use the collected data and information for internal analysis and for other purposes, such as to allow for more efficient selection of audit subjects for the control of transfer pricing, and for identifying “risky transactions” or risks from the perspective of transfer pricing.

Completing the attachment will be mandatory for companies that satisfy a specific requirement—such as having assets in excess of CZK 40 million, net turnover of CZK 80 million, or an average number of 50 employees.

Read a July 2014 report (Czech)(PDF 154KB) or (English)(PDF 185KB) prepared by the KPMG member firm in the Czech Republic: Mimorádné financní aktuality

Contact a tax professional with KPMG's Global Transfer Pricing Services.

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