According to Action 13 of the BEPS (Base Erosion and Profit Shifting) Plan, up to three levels of Transfer Pricing documentation are established, being the first one the so-called Local Report.
This report can be configured as a financial (economic) measurement, which serves to place the transfer values of goods and/or services between companies belonging to economic groups within the context of market value.
Unlike the other two higher levels of documentation focused on information as an economic group, the Local Report requires the information from the local entity such as its structure, the intercompany transactions carried out in the fiscal year, the methodology for analysis of these transactions, and its financial information.
The countries that currently require such affidavit are the following:
Our Firm has a wide experience, in addition to a multi-disciplinary team and first-class technology, which guarantees a final high-performance product and that duly supports through the filing of the Informative Affidavit and Local Report to the Tax Authorities.