S.L. 123.194 Art. 7Submission of documentation to the Commissioner.

(1) Whenever so requested by the Commissioner, for every item of qualifying IP in relation to which income is derived and against which the Patent Box Regime deduction is claimed, the beneficiary claiming such deduction shall submit to the Commissioner in such form and manner as the latter may deem fit to request:

(a) a copy of a confirmation issued by the Corporation describing the particular qualifying IP, confirming that the qualifying IP is actually in existence and confirming the amount of qualifying expenditure to which the Patent Box Regime deduction is applicable and the Total IP Expenditure;

(b) documentary evidence which demonstrates to the satisfaction of the Commissioner the amount of the Patent Box Regime deduction and how it was calculated for the particular year of assessment as well as the income or gains derived from qualifying IP and the costs and expenditure constituting the qualifying IP Expenditure and the Total IP Expenditure;

(c) evidence which demonstrates to the satisfaction of the Commissioner that profits or gains derived from transactions relevant in the context of these rules and carried out between parties who are related in the sense set out in rule 5(2) are calculated as if the parties to the relevant transactions are independent enterprises operating in similar conditions and at arm’s length; and

(d) such additional supporting documentation as may be laid down in guidelines issued by the Corporation or as may be otherwise requested by the Commissioner in respect of each year of assessment in which the Patent Box Regime deduction is claimed.

(2) Without prejudice to the provisions of sub-rule (1), the Corporation shall forward to the Commissioner such information as may be in possession of the Corporation and as may be requested by the Commissioner for the purpose of the performance of his duties under the Income Tax Acts.

(3) Any beneficiary shall maintain at all times sufficient proof of the continued satisfaction of the provisions of these rules and of any guidelines issued thereunder by the Corporation and shall make such proof available to the Commissioner and to the Corporation whenever so required.

(4) Any beneficiary shall furnish to the Corporation a copy of any tax return and of all supporting documentation filed with the Commissioner in respect of any year of assessment in which a Patent Box Regime deduction is claimed.

(5) The Commissioner shall spontaneously exchange information on beneficiaries claiming the Patent Box Regime deduction in respect of assets referred to in paragraph (c) of the definition of "qualifying IP" in rule 2.