Transfer Pricing (Amendment) Rules, 2024

L.N. 9 of 2024

INCOME TAX ACT

(CAP. 123)

Transfer Pricing (Amendment) Rules, 2024

IN EXERCISE of the powers conferred by articles 51A of the

Income Tax Act, the Minister responsible for finance has made the

following rules:-

The title of these rules is the Transfer Pricing (Amendment)

Rules, 2024 and these rules shall be read and construed as one with the

Transfer Pricing Rules, hereinafter referred to as the "principal rules".

Sub-rule (2) of rule 1 of the principal rules shall be

substituted by the following new sub-rule

"(2) These rules shall apply for basis years commencing

on or after 1st January 2024 in relation to any arrangement

entered into on or after that date, and for those arrangements

entered into before that date, these rules shall apply to those

arrangements that are materially altered on or after the said date

Provided that in relation to any arrangements entered

into before 1st January 2024 and which were not materially

altered on or after that date, these rules shall apply for basis years

commencing on or after 1st January 2027.".

€0.09