In 2017, the Federal Inland Revenue Service (FIRS) announced the introduction of six (6) new electronic services. One of the services was e-filing which enables taxpayers to file their returns on FIRS’ Integrated Tax Administration System (ITAS).
ITAS however did not include a module for the filing of transfer pricing (TP) related returns. To close this gap, the FIRS now plans to deploy a platform for e-filing of TP-related returns. At a recent FIRS-organized stakeholders’ forum, the FIRS demonstrated a beta version of the platform.
When deployed, the platform will have functionality for electronic filing of TP declaration, TP disclosure, Country-by-Country reporting notification and Country-by-Country Report.
Read our alert below for more information:
Download PwC Tax Alert_FIRS to introduce e-filing for TP returns_Oct2019