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Master File Updates Medicare Limited Coverage ProcessingHL7 Master File ProposalVersion: 20140810 Author: HK McCaslin, FHL7Contents Overview 2 Assumptions 3 Constructs for the message 3 The flow of
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Master file updates refer to the process of updating the central repository of information related to a company's global business operations.
Multinational enterprises (MNEs) with annual consolidated group revenue exceeding a certain threshold are required to file master file updates.
Master file updates can be filled out electronically through the designated tax authority portal with information on transfer pricing documentation, business activities, and group structure.
The purpose of master file updates is to provide tax authorities with comprehensive information about the global business operations of MNEs for transfer pricing analysis and risk assessment.
Master file updates typically include details on the MNE's business activities, intangible assets, intercompany transactions, and transfer pricing policies.
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