More time to submit transfer pricing information

From this article, you will learn:

• By when taxpayers must submit information on transfer prices?
• How the method of submitting TPR information in Poland has changed?
• What to pay attention to when fulfilling your duties?

As previously announced, the Ministry of Finance decided to extend the deadline for submitting information on transfer prices (TPR information).

Pursuant to the regulation signed on 24 November 2023, the deadline for submitting TPR information has been extended until 31 January 2024 - if the original deadline expires between 30 November 2023 and 31 December 2023.

This applies to TPR information submitted for the tax year starting after 31 December 2021, for both CIT  and PIT taxpayers. Provisions extending the deadline shall enter into force on the day following the date of announcement.

What should you remember when submitting TPR information electronically?

The extension of the deadline for submitting transfer pricing information is undoubtedly a good decision of the ministry, which results mainly from the fact that for the first time taxpayers submit TPR information via electronic means of communication using an interactive online form, and not - as in previous years - using an interactive PDF form. The opportunity to learn about the new method of completing and submitting TPR information via electronic means of communication was made available on the website of the Ministry of Finance only on 30 October 2023, i.e. one month before the original deadline for fulfilling obligations in this regard.

The Ministry of Finance rightly emphasises in the justification to the regulation that taxpayers should be given additional time to familiarise themselves with the new method of reporting transfer pricing information, both substantively and formally.

We would also like to remind you that not only the method of submitting TPR information is different than in previous years. Another novelty is the transfer of the entity's previously separate declaration on transfer prices to the TPR form itself. There is now an additional field in the TPR form, the ticking of which confirms that the local transfer pricing documentation has been prepared in accordance with the actual situation and the transfer prices covered by this documentation are determined on market terms.

Therefore, information on transfer pricing can be signed by the entity's manager (management board) - it cannot be done by an attorney, unless he or she is a lawyer, legal advisor, tax advisor or statutory auditor.

How can taxpayers use the additional time to comply with transfer pricing obligations? 

You can also use the additional time received from the Polish Ministry of Finance to verify whether the person signing the TPR has a qualified electronic signature (also containing the PESEL number) and whether he or she has been authorized to electronically send tax returns on behalf of the taxpayer (the UPL-1 power of attorney has been submitted to the tax office). Thanks to this, you will avoid unpleasant surprises when submitting TPR information.

We would also like to emphasise that the deadline for preparing transfer pricing documentation for 2022 for taxpayers, whose tax year is the same as the calendar year, expired at the end of October 2023. In this respect, the Ministry of Finance did not extend the deadline.

We encourage you to read the interactive TPR information available online on the website of the Ministry of Finance. If you have any questions or doubts in this regard, please contact RSM Poland tax advisor.