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Extension of the deadline for filing the Company Income Statement and the Summary Table of Information on Controlled Transactions for the year 2022 only for companies that are required to file the Summary Table of Information on Controlled Transactions for the year 2022.
The Department of Taxation informs that according to paragraph 2 of C.I.P. 59/2024, is extended until 30 November 2024 the date of submission of:
[A](a) the Company Income Tax Return for the tax year 2022 by a person who, under the provisions of section 33(10) of the Income Tax Act 2002, as amended (N118(I)/2002), is required to submit a Controlled Transaction Information Summary Table; and
(b) the Controlled Transaction Information Summary Table (pursuant to paragraph 5(a) of C.D.P. 314/2022), for the year 2022 is extended until 30 November 2024.
It is emphasized that the Summary Table is submitted only electronically through the Tax For All (TFA) Taxpayer Portal and will be available within the next few weeks when an announcement will be issued.
For information regarding the items included in the Summary Table of Controlled Transaction Information, consult the Department of Taxation's website, section Frequently Asked Questions - Transfer Pricing.
It should be noted that, pursuant to Article 50G of the Tax Confirmation and Collection Act, failure to submit the Summary Table of Information on Controlled Transactions by the specified date (30/11/2024) will result in an administrative fine of five hundred euros (€500).
(MS/NYAN)
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