Tax Notes
Submission of BIR Form 1709, preparation of transfer pricing documentation
On Dec. 22, 2020, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 34-2020 to inform all concerned on the streamlined guidelines and procedures in the submission of BIR Form 1709 (Information Return on Related Party Transactions) and its required attachments including transfer pricing documentation (TPD).