The tax administration of Kosovo announced that annual reports of controlled transactions for 2016 must be completed and filed no later than 30 November 2017.
Administrative Instruction MF No. 02/2017 sets out rules and procedures for implementing the transfer pricing provisions of Law No. 05/L-029, and provides that submissions of the annual controlled transactions notification report apply retroactively (that is, from 2016). Read TaxNewsFlash-Transfer Pricing
The notification on controlled transactions (the summary of all the cross-border transactions between related parties) for the year 2016 must be submitted in hard copy no later than 30 November 2017, and filed with the transfer pricing division of the tax administration in Kosovo. Kosovo taxpayers also may need to prepare a transfer pricing Local file for the related-party transactions of 2016.
The 30 November 2017 deadline relates only to 2016. In future years, the deadline for submitting annual reports of controlled transactions will be 31 March in the year following the reporting year.
Read an October 2017 report prepared by the KPMG member firm in Albania
© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.