On 24th December 2024, the Inland Revenue Board of Malaysia (IRBM / LHDN) has published updated Transfer Pricing Guidelines and Transfer Pricing Audit Framework.

The 190-page guideline covers many technical and practical aspects of transfer pricing. One of such important update is on the thresholds to permit taxpayers to prepare minimum Contemporaneous Transfer Pricing Documentation (CTPD), rather than a full CTPD.

Nasha Raina Rahim explains this change and its implications on businesses on the SunBiz, the business section a reputable mainstream newspaper in Malaysia. On this article published on 31st Jan 2025,  she emphasizes on the need for minimum CTPD to contain the relevant justification to arm’s length principle.