Apart from being treated as having no Taxable Income for the Tax Period, what other Corporate Tax benefits (e.g., documentation) can I enjoy when selecting Small Business Relief?
Businesses that opt for Small Business Relief can benefit from various compliance-related advantages, in addition to being treated as if they have no Taxable Income:
- Exemption from filing transfer pricing documentation, including the requirement to submit a transfer pricing information disclosure form with a Tax Return and maintaining a master file and local file.However, it’s important to note that businesses must still adhere to transfer pricing regulations, and transactions involving Related Parties must meet the arm’s length principle.
- Elimination of the requirement to calculate Taxable Income
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