The South African Revenue Service (SARS) has issued a final notice on additional record-keeping requirements for transfer pricing purposes. The new requirements apply for years of assessment commencing on or after 1 October 2016 and are largely based on the Local file requirements developed as part of BEPS Action 13. In terms of items required, the final notice is generally in line with the prior draft notice ({News-2016-08-04/P/3- previous coverage}), and includes:
- The records, books of acc…