Armenian tax authorities begin transfer pricing audits

Armenian transfer pricing (TP) rules came into force in 2020. The TP rules introduced the notification on controlled transactions and documentation requirements with 2020 being the first reporting period. TP notifications for 2020 were due by 20 April 2021, and now the tax authorities have started requesting TP documentation in order to select taxpayers for TP audits. According to the Armenian Tax Code, TP documentation should be provided within 30 working days upon request of the tax authoritie…