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Deadline challenges

Let’s face it, transfer pricing compliance is no walk in the park and deadlines only make this worse. Deadlines vary by jurisdiction and local regulations are constantly changing. Depending on the country you operate in, TP documentation can consist of a local file, master file, Country by Country Report (CbCR), Pillar II (safe harbours) and even TP forms. Not even mentioning different requirements per document per country.  Simply put, it’s a lot to handle.

More about Pillar 2 safe harbours

 

What if I miss deadlines?

Tracking deadlines is a serious challenge, missing them is a significant risk.  Missing a transfer pricing deadline does not just mean extra stress, it can lead to serious financial consequences like penalties and increased costs. And let’s not forget that these penalties can vary per country!

That’s why it’s so important to stay on top of what to prioritize. Missing a deadline can have serious consequences, but the solution is surprisingly simple: create an prioritized overview. We are here to help you solve this challenge. Coperitas ensures you are always up-to-date on what’s required and when.

Creating your own goals

The best way to get things done is to set goals for yourself. At Coperitas, we do not just help you set goals for your transfer pricing deadlines—we achieve them with you! These are the goals Coperitas will help you achieve:

 

deadline overview

Never miss a deadline

Transfer pricing deadlines, as well as documentation requirements, can vary per jurisdiction. While formal deadlines associated with penalties are usually on top of the priority list, some others might not always be on your radar.

Have all deadlines in sight 

Coperitas helps you to keep track of all transfer pricing filing deadlines that are relevant to your company.

Keep progress in your workflow  

No more last-minute scrambles to pull everything together. Coperitas keeps track of all your transfer pricing tasks so you don’t have to. 

 

Next step

Once you’ve hit these two goals, you’re ready to shift your focus back to the big picture. Here’s what you should concentrate on next:

 

staying compliant

Follow-up

Coperitas can help you take these nexts steps:

Create compliant documentation easily

From master files to local files and country-by-country reports, our platform helps you prepare and stay compliant.

Make a compliance strategy tailored to your company

When it comes to this strategy, two factors play a huge role: risk appetite and resources. We can help you align your strategy with your compliance strategy.

Automate your compliance

The promises we make

We’ve talked about how we can support you, but what exactly do you get? Let’s take a look at what’s waiting for you when you open the Coperitas tool:

 

tailored reminder

Deadlines in Coperitas

In Coperitas you will find the following components:

Deadlines overview

With Coperitas tracking deadlines and sending automated reminders & updates, you’ll never have to worry about missing a deadline again. You can start with your current overview, or let us handle it for you! We’d be more than happy to help you gather all the right information. No effort required on your part.

Only relevant deadlines 

After you processedyour company information, Coperitas will use it to provide only the relevant deadlines for your business.  No need to double-check their relevance.

 

With Coperitas, you can finally breathe again, knowing your compliance processes are under control. No more last-minute panics or intimidating penalties. Just smooth, stress-free operations.

FAQ

  • What is a local file?

    The local files are an annual requirement on a jurisdictional level, depending on the local tax legislation and thresholds that vary per jurisdiction. The contents of the local files focuses on describing the local organization and its material intercompany.

  • What is a master file?

    The master file is an annual transfer pricing compliance requirement in most jurisdictions. This file is prepared on a group level and its contents focuses on describing the context in which intercompany transactions take place.

  • Are local filing deadlines included in Coperitas?

    It is possible to include local filing deadlines in Coperitas, but these are not included by default.