Effective Management of Transfer Pricing: Introduction to new Transfer Pricing Provisions in Malaysia
Failure to Furnish Contemporaneous Transfer Pricing DocumentationEffective 1 January 2021, a new Section 113B was introduced into the Malaysian Income Tax Act (“the Act”), setting out the penalty for failure to furnish contemporaneous transfer pricing documentation.
On conviction: Fine of MYR 20,000 – MYR 100,000 or imprisonment of up to 6 months. ...
Transfer Pricing (TP)a year ago