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General Communiqué #0803 COMPASS and Self Service Title: COMPASS and Self Service Date: March 11, 2008, Priority: High Category: Informational Action Required: See Next Steps. Response Required:
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General Communiqué 08-03 Compass is a regulation issued by the Turkish Ministry of Finance that outlines the rules and requirements for transfer pricing documentation.
All Turkish taxpayers that engage in cross-border transactions with related parties are required to file General Communiqué 08-03 Compass.
General Communiqué 08-03 Compass must be filled out in accordance with the guidelines provided by the Turkish Ministry of Finance, ensuring all relevant information regarding transfer pricing documentation is accurately reported.
The purpose of General Communiqué 08-03 Compass is to provide transparency and prevent tax evasion in cross-border transactions by ensuring proper transfer pricing documentation is maintained and submitted.
General Communiqué 08-03 Compass requires reporting of detailed information on cross-border transactions, related party relationships, transfer pricing methodology, financial data, and more.
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