Malaysia legislation
Section 138C
Section 138C
(a)
the Director General may enter into an advance pricing arrangement with that person; or
(b)
in the case where section 132 applies, the competent authorities may enter into an advance pricing arrangement, in order to determine the transfer pricing methodology to be used in any future apportionment or allocation of income or deduction to ensure the arm’s length transfer prices in relation to that transaction.
(2)
An application under subsection (1) shall be made in the prescribed form and shall contain particulars as may be required by the Director General.
(3)
The transactions referred to in subsection (1) shall be construed as a transaction between—
(a)
persons one of whom has control over the other;
(b)
individuals who are relatives of each other; or
30 Laws of Malaysia ACT 693
(c)
persons both of whom are controlled by some other person.
(4)
In this section, “relative” and “transaction” have the same meanings assigned to them under subsection 140(8).”.
New section 140A