Sri Lanka's Inland Revenue Department has issued a notice on the country's transfer pricing (TP) documentation rules.
One of the key aspects of the notice is that beginning with the 2015-2016 tax year, companies meeting the related party transaction thresholds will be required to submit with their tax return a certified statement by an approved auditor that their TP documentation was reviewed and that the transactions comply with the arm's length principle. A certified statement from the ma…