It should be remembered that meeting the above deadlines is of key importance, primarily for persons representing a given entity (commercial law companies) or directly representing a taxpayer (natural persons). These persons submit declarations on the preparation of local tax documentation and are responsible for the content of information on transfer pricing. Failure to meet the above deadlines may expose them to, among other things, criminal liability or financial sanctions.

In the era of the crisis caused by the Covid-19 pandemic, the legislator, in the act commonly known as the ‘Anti-Crisis Shield’, also introduced regulations concerning transfer pricing. The deadline for submitting transfer pricing information and a statement on the preparation of local transfer pricing documentation has been changed and extended to 30 September 2020. However, this change does not apply to all entities. It only applies to taxpayers whose tax year or financial year began after 31 December 2018 and ended before 31 December 2019. Therefore, it does not apply to entities whose tax year coincides with the calendar year and has not been shortened for other reasons, as for these entities the current deadline, i.e. the end of the ninth month after the end of the tax year, coincides with the deadline introduced by the ‘Anti-Crisis Shield’, i.e. 30 September 2020. However, the change applies to entities whose tax or financial year coincides with the calendar year but has been shortened and ended before 31 December 2019, e.g. due to the liquidation of the entity. In such a situation, the deadline for submitting transfer pricing information and a statement on the preparation of local transfer pricing documentation, which would fall on a date earlier than 30 September 2020, is extended to 30 September 2020.

Considering that the change introduced by the ‘Anti-Crisis Shield’ applies to a very narrow group of entities, it seems that this is only a technical change, standardising the deadline for submitting transfer pricing information and a statement on the preparation of local transfer pricing documentation for all entities on which this obligation has been imposed.

However, the Act is silent on the marketability of transfer prices applied during the Covid-19 pandemic. The prices previously applied between related entities, in the context of changes in the relevant terms of transactions forced, among other things, by changes in risk distribution, division of functions or assets involved, may constitute grounds for challenging the market nature of the prices applied. On the other hand, a change in the price applied between related entities during the Covid-19 pandemic must be strongly justified in order to best protect the taxpayer from sanctions related to the determination of a non-market price.

In summary, the legislator has only made technical changes to transfer pricing, which do not alter the obligations of most taxpayers. The real effect of the Covid-19 pandemic is its impact on the marketability of prices applied in transactions between related entities. Taxpayers who have already changed the terms of their transactions should ensure that they are properly justified, while taxpayers who intend to change the terms should determine their marketability. The desirable solution for taxpayers is to audit the terms of transactions, including the pricing terms applied in transactions with related entities.