Summary of Information Table (SIT)
The SIT is a form which must be submitted to the Tax Department on an annual basis and reflects high-level information about the taxpayer’s annual intercompany transactions, including details of the counterparties, category of intercompany transactions entered into, and amount per transaction category.
Who is obliged to prepare the SIT?
The SIT reporting obligation is applicable for all Taxpayers who have transactions between related parties on an annual basis.
When is the deadline for preparation and submission of the Local File?
The SIT shall be submitted to the Tax Department, via Tax For All (TFA) portal concurrently with the income Tax Return
PENALTIES
What is the penalty for not submitting the SIT on time?
The penalty for non-submission of the SIT by the deadline as provided in the Regulations (e.g., the submission deadline of the income tax return) is €500.
