Lithuania Draft Order on Updating Transfer Pricing Regulations includes New Master/Local File Requirements

The Lithuanian Ministry of Finance has published a draft order that will update and replace the current transfer pricing regulations. One of the main changes is the introduction of new Master and Local file transfer pricing documentation requirements. Some of the main points of the requirements are summarized as follows:

• The Master file content requirements are generally in line with the guidelines developed as part of BEPS Action 13, while the Local file requirements are more an expansion …