Article 16 - Master File

A. Each Taxable Person is required to maintain and make available upon request by the Authority, a Master File containing information on the global business operations and Transfer Pricing policies of the Multinational Enterprise Group to which the Taxable Person belongs. The following information should be included in the Master file:

1. Organizational structure, such as illustrating the Multinational Enterprise Group’s legal and beneficial ownership structure, and geographical location of operating entities.

2. Description of Multinational Enterprise Group’s business, i.e. general written description of the Multinational Enterprise Group’s business, including:
(a) important drivers of business profit;
(b) a description of the supply chain for the MEN Group’s largest products and service offerings by turnover plus any other products and services amounting to more than 5% of group turnover;
(c) a list and brief description of important service arrangements between Multinational Enterprise Group members other than research and development services, including a description of the capabilities of the principal locations providing important services and transfer pricing policies for allocation of the costs of services and determining prices to be paid for intra-group services;
(d) a description of the main geographical markets for the group’s products and services;
(e) a brief written functional analysis describing the principal contributions to value creation by individual entities within the group, i.e. functions performed, important assets used, and important risks assumed; and
(f) a description of important business restructuring Transactions, acquisitions, and divestitures occurring during the Reporting Year.

3. Information on the Multinational Enterprise Group’s intangibles, including:
(a) a general description of the Multinational Enterprise Group’s overall strategy for the development, ownership and exploitation of intangibles, including location of principal research and development facilities and of research and development management.
(b) a list of intangibles or groups of intangibles of the Multinational Enterprise Group or Constituent Entities that are material for Transfer Pricing purposes, and the identity of the legal and de facto owner of such intangibles.
(c) a list of important agreements among identified related parties concerning intangibles, including cost contribution arrangements, principal research service agreements and license agreements.
(d) a general description of the group’s transfer pricing policies related to research, development and intangibles.
(e) a general description of any important transfers of interests in intangibles among Related Persons during the Reporting Year concerned, including the entities, countries, and compensation involved.

4. Information on the Multinational Enterprise Group’s intercompany financial activities, including:
(a) a general description of how the group is financed, including material financing arrangements with independent lenders;
(b) the identification of any members of the Multinational Enterprise Group that provide a central financing function for the group, including the country under whose laws the entity is organized and the place of effective management of such entities; and
(c) a general description of Multinational Enterprise Group’s transfer pricing policies related to financing arrangements between Related Persons.

5. Information pertaining to the Multinational Enterprise Group’s financial and tax positions, including:
(a) the Multinational Enterprise Group’s annual consolidated financial statement for the that Reporting Year if otherwise prepared for financial reporting, regulatory, internal management, tax or other purpose; and
(b) a list and brief description of the Multinational Enterprise Group’s existing unilateral Advance Pricing Agreements and other tax rulings relating to the allocation of income among countries.

B. The Master File, or a part thereof, shall be provided or made available to the Authority upon its request within the period specified by the Authority in the request, provided that such period shall be no less than Thirty (30) days from the date of the request.