Submit a declaration of international transactions - appendix to the annual report - Form 1385

Who needs to submit the declaration of international transactions

Anyone who has made an international transaction with related parties abroad is required to report the transaction to the tax authority.
Among other things, the report must include:

• names of the parties involved and their place of residence
• the nature and type of international transaction
• the price of the international transaction

You must also:

• specify if this is a specific transaction listed on the form
• sign the declaration that the international transaction was made under market conditions

You can find the definition of an international transaction under special in section 85A and the income tax regulations (determination of market conditions) by virtue of section 85A.

How to submit the declaration

Complete the declaration form – Form 1385 and submit it as an appendix together with your annual report.