B. Contracts or agreements with persons close to us 188 OR that concern each director/interested u/s 184 (2) The Report of the Board of Directors should include special contracts with close relatives. The RPT notification form will provide IRAS with the relevant information to better assess business transfer pricing risks and improve the implementation of the arm length requirement. If the transaction exceeds the limits prescribed by Rule 15, Co. concludes a party close to the contract and agreement after obtaining prior shareholder approval through an ordinary resolution. III. The decision is adopted at the board meeting, whether it is a physical meeting of the office or a video conference. This transaction must be ratified by the Board of Directors and the General Assembly within three months of the conclusion of this contract or such agreement. c) Does not apply to a section 8 (not for the winning company) if the value of the transaction is 1.00,000/- (Rupees One Lakh).
IV. No need to present an MGT-14 for such a decision at the General Assembly. iii. The audit committee may ratify the transaction within three months of closing the transactions. For more information, see sections 8 and 10 of the e-tax guide on the transfer of pricing guidelines (PDF, 1.46MB), including the administrative app application procedure. i. In the Review Committee, the resolution can also be adopted by a full resolution. VI. If all directors are interested in a case, this matter may be referred to the General Assembly. Starting in the 2019 audit year, when IRAS adjusts transfer prices in accordance with Section 34D of the Income Tax Act, a 5% increase is applied on the amount of the transfer price adjustment.
The 5% surcharge is levied regardless of whether or not the transfer price adjustment will result in additional taxes. The IRAS may consider transferring all or part of the supplement to a good cause. I. Transaction by „Company“ (as a party) The final report on Action 5 „More effective against harmful tax practices taking into account transparency and substance“, published by the OECD in October 2015, establishes an agreed framework for the mandatory spontaneous exchange of information regarding judgments.