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On 26 June 2024, the General Tax Administration (AGT) of Angola issued a notice informing taxpayers of an extension to the deadline for submitting transfer pricing documentation for fiscal year 2023. The notice also covers new rules for electronic submission and the detailed form that must accompany the documentation.

Deadline extension

Under Angolan law, taxpayers required to submit transfer pricing documentation to the AGT must do so by 30 June of the year following the one to which the income relates, under penalty of fines. However, the AGT has decided to extend the deadline for the submission of transfer pricing documentation for fiscal year 2023 to 31 July 2024, as an exceptional measure.

New electronic submission rules

For the first time, the AGT's notice mandates the electronic submission of transfer pricing documentation via the Taxpayer Portal. This measure appears to be aimed at facilitating and streamlining the process of delivering and analyzing documentation, as well as reducing the costs and risks associated with the physical delivery of documents.

Detailed form

In addition to the transfer pricing documentation, taxpayers must also submit a detailed form that describes the taxpayer's transfer pricing policy, according to the information contained in the transfer pricing documentation file.

This form requires the identification of related parties, transactions carried out with those entities, the transfer pricing methods used, the definition of the interquartile range based on the statistical study of comparables, including the minimum, first quartile, median, third quartile, and maximum, the number of comparables used, and any transfer pricing adjustments made. The form also includes a special section for intra-group financing operations, with a similar level of detail.