JAKARTA. MUC Consulting in collaboration with UOB Indonesia once again organized a webinar on tax practices for corporations. On the occasion, the webinar is about the preparation of Transfer Pricing Documentation (TP Doc).
This event took place on Tuesday (24/8) and was attended by around 60 corporate participants who are customers of UOB Indonesia. The material was presented by Tigor Mulia Dalimunthe, Manager Transfer Pricing Division MUC Consulting, and Lulu Purwanti, Supervisor Transfer Pricing Division MUC Consulting.
This webinar only discusses an overview of the practice of TP Doc preparation, because discussions related to the technicalities of TP Doc preparation will be discussed in different webinar sessions.
Some of the things discussed this time include the development of rules for the preparation of TP Doc in Indonesia and best practices that are regulated globally.
In his presentation, Tigor said that the preparation of a TP Doc must be carried out by companies that conduct transactions with affiliated companies, or those within the same group of companies. There are three types of documents that must be made. These are master file, local documentation file, and country-by-country reports (CbCR).
Having a TP Doc is very important as it is closely related to other corporate tax obligations, such as preparing an annual corporate income tax return. In addition, by having a TP Doc, companies in a group can comprehensively explain pricing in affiliated transactions according to the arm's length principle.
This webinar also discussed several methods of transfer pricing to some issues of concern in preparing TP Doc. However, related to the technique of TP Doc preparation and other technical issues will be discussed in the upcoming webinar.
On the webinar, Ekky A. Basuki Cash Sales Head, EB Commercial Banking and Business Banking UOB Indonesia hopes that all the material presented in this webinar can be implemented and become new insights for participants.
For information, the collaboration between MUC and UOB Indonesia is part of the UOB Transaction Banking Experience Center (TBEX) program, which is a workshop forum created to increase the knowledge of UOB customers on financial or banking aspects in general as well as UOB products.