The Italian Revenue Agency has published Circular no. 15 of 26 November 2021, which provides clarifications on required transfer pricing documentation for the verification of arm's length pricing. The Circular provides clarifications in relation to the Implementing Provision of 23 November 2020, which introduced new rules for the preparation of documentation in order for a taxpayer to be considered in compliance with the arm's length principle, including a Master file and national documentat…