Malaysia Seeks More Information From Mncs For Undertaking Transfer Pricing Risk-Assessment

Recently, the Inland Revenue Board of Malaysia (IRBM) introduced certain changes in Form MNE, requiring additional details in relation to cross-border transactions for undertaking transfer pricing risk–assessment. Form MNE is required to be filled and submitted by the taxpayers within 30 days of receiving a notice from the IRBM.

The updated Form MNE [Pin 1/2017], requires the following additional information in Part C of the Form:

• Name of the company and country in which the taxpayer has entered into a cross-border transaction if the said country has a lower tax rate compared to Malaysia.
• Details on any business restricting activity carried out within the group in last five years including: