Second Extension of the Period Designated for Submission of the First Country by Country Report
Through the Revenue Administration Circular On Implicit Profit Distribution Through Transfer Pricing dated 22.02.2021 and numbered 3 (“Circular”), the submission period for Country by Country Report (“CbCR”), which has become part of the documentation obligation in transfer pricing for multinational business groups, has been extended once again.
Through the Circular, the deadline for submission of the following the CbCR via BTRANS has been extended as follows:
- The period of submitting the CbCR pertaining to FY 2019 and the special accounting periods ending in January 2020 and February 2020 of the multinational business groups whose ultimate parent company or proxy business are located in Turkey has been extended to March 31, 2021.
- The period of submitting the CbCR pertaining to FY 2019 and the special accounting periods ending in January, February, March, April and May 2020 of the multinational business groups whose ultimate parent company or proxy business are not located in Turkey has been extended to June 30, 2021.
You may find the full text of the Circular here.
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