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  • IRPD service arrangements

    For reporting of service arrangements with IRPs, a service arrangement is one that is based on the performance of work by one party for the benefit of another party (refer to Employers Mutual Indemnity Association Ltd v. Federal Commissioner of Taxation [1943] HCA 36; (1943) 68 CLR 165 per Latham CJ at 174). The arrangement may be formal or informal. The reporting entity may be the customer or the provider of the service.

    The following kinds of services, for which the service fees or other consideration for the services are royalties, are not included in the transaction category for IRPD service arrangements outlined below:

    • the supply of assistance ancillary and subsidiary to, and furnished as a means of enabling application or enjoyment of use of the following kinds of rights, equipment, knowledge or information
      • a licence or other use or right to use intellectual property such as trademarks or patents
      • the use or right to use industrial, commercial or scientific equipment
      • the supply of scientific, technical, industrial or commercial knowledge or information.
       

    These kinds of services are instead included in the transaction category of royalties and are covered in these instructions as part of IRPD Use Rights.

    Table 4: IRPD service arrangements

    Code

    Description of transaction category

    TRS

    Treasury-related services

    Any IRPDs in the nature of Treasury-related services in the managing of financial operations, including:

    • transaction, investment and information services relating to securities, financial assets, financial liabilities, portfolios and/or other assets held by the reporting entity or an international related party
    • the generation of internal and external funding
    • risk management systems development and review
    • the management of currencies and cash flows
    • complex strategies, policies and procedures relating to financial operations.

     

    MAS

    Management and administration services

    Any IRPDs in the nature of management and administration services, that:

    • involve or relate to the control, facilitation, and monitoring of human resources (staffing) and financial resources (assets)
    • relate to administering the day to day business operations, including  
      • back office services
      • administrative services associated with employee share-based plans / recharge amounts
      • accounting services.
       

    Administration services exclude transactions relating to financing, marketing or production.

    INSERV

    Insurance services

    Any IRPDs in the nature of insurance services in the management of insurance contracts (predominantly undertaken through intermediaries). Effectively, the expenditure and revenue will represent intermediaries' commissions for providing an insurance management type service (for example, placement of the insurance portfolio to a third party or providing back office functions).

    Any premiums or other expenditure incurred or revenue earned or derived in relation to insurance contracts with international related parties should be shown for the transaction category Insurance.

    REINSERV

    Reinsurance services

    Any IRPDs in the nature of reinsurance services in the management of reinsurance contracts (predominantly undertaken through intermediaries). Effectively, the expenditure and revenue will represent intermediaries' commissions for providing an insurance management type service in relation to reinsurance contracts (for example, placement of the insurance portfolio to a third party or providing back office functions).

    Any premiums or other expenditure incurred or revenue earned or derived in relation to reinsurance contracts with international related parties should be shown for the transaction category Reinsurance.

    RD

    Research and development services

    Any IRPDs in the nature of research and development services that are activities associated with the undertaking of research and development services on behalf of a contracting party on a systematic basis in order to develop intellectual property, where the entity providing the research and development services does not take title to any resultant intellectual property created in the provision of the service.

    SAM

    Sales and marketing services

    Any IRPDs in the nature of sales and marketing services.

    Sales services include:

    • provision of services to facilitate the sale of goods or services
    • transaction, investment and information services carried out on behalf of customers relating to the customer’s securities, financial assets, financial liabilities, portfolios and/or other assets.

    Marketing services include activities that involve acquiring new customers or businesses and maintaining a relationship with them, including:

    • advertising
    • brand promotion
    • sales strategies
    • customer support services.

     

    SITS

    Software and IT services

    Any IRPDs in the nature of sales and marketing services in providing the support and maintenance of software and technology.

    Transactions relating to the ownership of the software and technology are excluded, such as leasing and rental fees.

    TS

    Technical services

    Any IRPDs in the nature of technical services that are associated with engineering, architecture, design, project management and mining exploration.

    LS

    Logistics services

    Any IRPDs in the nature of logistics services that are related to transport, freight, storage, scheduling, sourcing and procurement.

    AM

    Asset management services

    Any IRPDs in the nature of asset management services that are associated with the management of assets, funds or investments undertaken on a discretionary basis in accordance with an investment strategy, with the provider of the services responsible for both of the following:

    • acquiring, monitoring, managing and disposing of traditional and non-traditional financial products
    • assessing, monitoring and managing the market risks associated with holding the financial products.

     

    OS

    Other services

    Any IRPDs in the nature of services that are not covered by any of the following transaction categories:

    • Treasury-related services
    • Management and administration services
    • Insurance services
    • Reinsurance services
    • Research and development services
    • Sales and marketing services
    • Software and IT services
    • Technical services
    • Logistics services
    • Asset management services.

     

    1. What is the transaction category?

    Select the transaction category for the IRPD transaction.

    (LCMSF32)

    1. Is this transaction part of a RAS?

    If this transaction is covered by an IRPD agreement in a RAS, indicate True.

    Otherwise indicate False.

    (LCMSF33)

    1. How many transactions are part of the RAS?

    If the transaction is part of a RAS, indicate the applicable range for the number of the transactions in the same RAS that were current during the income year:

    • Low (1–5)
    • Moderate (6–50)
    • High (51 or more)

    (LCMSF35)

    1. ABN or TFN of the Australian counterparty to the transaction/RAS

    Show the ABN or TFN of the Australian counterparty (which may be the reporting entity itself) to the transaction/RAS.

    (LCMSF83 and LCMSF84)

    1. Name of the IRP non-resident counterparty to the transaction/RAS

    Show the full name of the IRP non-resident counterparty to this type of IRPD.

    The full name to be shown is the complete name of the IRP non-resident counterparty entity. While this would be expected to usually correspond with the name of the relevant party in any associated written agreement documentation, the full correct name of the entity should be shown at Part A even if this is not exactly the same as the name used in any associated written agreement documentation.

    (LCMSF37)

    1. Tax residency of the IRP non-resident counterparty to the transaction/RAS

    Show the country codeExternal Link for the country of tax residence of the IRP non-resident counterparty to this transaction/RAS.

    (LCMSF38)

    1. Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS

    If an amount of a capital nature was paid by the reporting entity in connection with this transaction/RAS during the income year, show this amount based on the reporting entity’s accounting records.

    If no amount of a capital nature was paid by the reporting entity in connection with this transaction/RAS during the income year, show zero.

    (LCMSF39)

    1. Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS

    If an amount of a capital nature was received by the reporting entity in connection with this transaction/RAS during the income year, show this amount based on the reporting entity’s accounting records.

    If no amount of a capital nature was received by the reporting entity in connection with this transaction/RAS during the income year, show zero.

    (LCMSF40)

    1. Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS?

    If non-monetary consideration of a capital nature was provided by the reporting entity in connection with this transaction/RAS during the income year, indicate True.

    Otherwise indicate False.

    (LCMSF85)

    1. Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS?

    If non-monetary consideration of a capital nature was obtained by the reporting entity in connection with this transaction/RAS during the income year, indicate True.

    Otherwise indicate False.

    (LCMSF86)

    1. Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS

    Show the amount of expenditure not of a capital nature for income tax purposes in connection with this transaction/RAS during the income year based on the reporting entity’s accounting records.

    If there was no amount of expenditure not of a capital nature in connection with this transaction/RAS during the income year, show zero.

    (LCMSF41)

    1. Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS

    Show the amount of revenue not of a for income tax purposes in connection with this transaction/RAS during the income year based on the reporting entity’s accounting records.

    If there was no amount of revenue not of a capital nature in connection with this transaction/RAS during the income year, show zero.

    (LCMSF42)

    1. Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS?

    If non-monetary consideration not of a capital nature for income tax purposes was provided by the reporting entity in connection with this transaction/RAS during the income year, indicate True.

    Otherwise indicate False.

    (LCMSF44)

    1. Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS?

    If non-monetary consideration not of a capital nature was obtained by the reporting entity in connection with this transaction/RAS during the income year, indicate True.

    Otherwise indicate False.

    (LCMSF45)

    1. Amount of foreign exchange losses deducted for the transaction/RAS

    Show the amount of foreign exchange losses deducted for income tax purposes by the reporting entity in connection with this transaction/RAS under Division 775 of the ITAA 1997 or, if applicable, the taxation of financial arrangements (TOFA) provisions in Division 230 of the ITAA 1997 for the income year.

    For more information about the circumstances in which foreign exchange gains are assessable and foreign exchange losses are deductible for Australian income tax purposes, refer to Appendix 3.

    If there was no foreign exchange loss deducted for income tax purposes in connection with this transaction/RAS for the income year, show zero.

    (LCMSF87)

    1. Amount of foreign exchange gains returned for the transaction/RAS

    Show the amount of foreign exchange gains assessable for income tax purposes in connection with this transaction/RAS under Division 775 of the ITAA 1997 or, if applicable, the TOFA provisions in Division 230 of the ITAA 1997 for the income year.

    For more information about the circumstances in which foreign exchange gains are assessable and foreign exchange losses are deductible for Australian income tax purposes, refer to Appendix 3.

    If there was no foreign exchange gain assessable for income tax purposes in connection with this transaction/RAS for the income year, show zero.

    (LCMSF43)

    1. What transfer pricing / capital asset pricing methodology has been applied to this transaction/RAS?

    If the reporting entity does not know which transfer pricing methodology has been applied to this transaction/RAS, select the code UNKT (Unknown TP Method).

    If the reporting entity does not know which capital asset pricing methodology has been applied to this transaction/RAS, select the code UNKC (Unknown CAP Method).

    (LCMSF46)

    1. What level of transfer pricing documentation has been prepared for this transaction/RAS?

    The level of transfer pricing documentation refers to the aggregate dollar amount of this transaction/RAS for which the reporting entity has prepared relevant transfer pricing documentation, expressed as a percentage of total dollar value of this transaction/RAS.

    1 = 0%

    2 = 1% to less than 25%

    3 = 25% to less than 50%

    4 = 50% to less than 75%

    5 = 75% to less than 100%

    6 = 100%

    If this transaction/RAS meets the conditions for one of the following Simplified Transfer Pricing Record Keeping (STPRK) options, outlined in PCG 2017/2 Simplified Transfer Pricing Record Keeping Options, show the code(s) for the STPRK option applied to the transaction/RAS:

    7 = STPRK (Materiality)

    8 = STPRK (Small Business)

    9 = STPRK (Distributors)

    10 = STPRK (Intra-Group Services)

    11 = STPRK (Management & Administration Services)

    12 = STPRK (Technical Services)

    (LCMSF47)

    1. If the reporting entity is a bank and this transaction is in a RAS, has the special short term tenor rule for ordinary borrowings and ordinary loans been applied to this RAS?

    Always indicate False if the transaction category is not ordinary borrowings and ordinary loans.

    (LCMSF88)

    1. If the reporting entity is a bank and this transaction is in a RAS, has the special short term tenor rule for short term derivatives been applied to this RAS?

    Always indicate False if the transaction category is not derivatives.

    (LCMSF128)

    1. If the reporting entity is a bank and this transaction is in a RAS, has the special rule for FX derivatives been applied to this RAS?

    Always indicate False if the transaction category is not derivatives.

    (LCMSF129)

    1. If the reporting entity is an OBU, is this transaction/RAS an OB activity?

    If the reporting entity is an OBU and this transaction/RAS is an OB activity under sections 121D and 121EAA of the ITAA 1936, indicate True.

    Otherwise indicate False.

    (LCMSF63)

    1. Is this transaction/RAS covered by a category on the Exclusions List?

    If this transaction/RAS is covered by one of the following categories on the exclusions list, indicate True.

    Otherwise indicate False.

    (LCMSF48)

    1. What category of the Exclusions List applies to this transaction/RAS?

    If you have indicated True to Question 23, select the category on the exclusions list which applies to this transaction/RAS.

    (LCMSF49)

    Reporting examples: IRPD service arrangements

    Example 5: Sales and marketing services provided by Singapore IRP

    The facts are the same as the facts in Example 3.

    Singapore Co has entered into agreements with Aus Co to provide services in relation to the sales and marketing of iron ore to third party customers, including customer support services.

    Singapore Co provided services to Aus Co in 18 individual service transactions during the income year. All the services Singapore Co provided to Aus Co were of the same kind and were provided under agreements with Aus Co on the same terms except for date, price, volume and delivery. The individual service transactions are therefore in the same RAS in accordance with Local file – Part B: Guidance on providing international related party agreements.

    All the services Singapore Co provided to Aus Co fall within the Sales and marketing services transaction category.

    The fees and commissions payable by Aus Co to Singapore Co for these services was payable in Australian dollars. The aggregate service fees and commissions payable by Aus Co to Singapore Co for these services for the income year was $17 million as shown in Aus Co’s accounting records.

    Aus Co did not pay or obtain any consideration of a capital nature in relation to the provision of the services by Singapore Co.

    Aus Co did not receive or obtain any non-monetary consideration in relation to the provision of the services by Singapore Co.

    Aus Co has applied the transfer pricing methodology ‘Cost plus method’ to this transaction/RAS.

    Aus Co has prepared relevant contemporaneous transfer pricing documentation for 100% of this transaction/RAS.

    The total amount deducted in the income year by Aus Co in connection with this services transaction/RAS is not less than A$2 million or less than 2% of Aus Co’s total IRPD expenses, so the transaction/RAS does not satisfy the category of ‘Low value / low risk services agreements’ on the exclusions list.

    Aus Co completes the questions for the services transaction/RAS in this example based on its accounting records as shown in the following table.

     

    Table 5: Completed entry – Provision of services by Singapore IRP (Sales and marketing services)
    Table 5: Completed entry – Provision of services by Singapore IRP (Sales and marketing services)

    Question no.

    Question label

    Response

    na

    Local file – Part A Transaction Identifier

    [Transaction ID]

    1

    Transaction category

    SAM

    2

    Is this transaction part of a RAS?

    True

    3

    How many transactions are part of the RAS?

    Moderate

    4

    ABN or TFN of the Australian counterparty to the transaction/RAS

    [ABN or TFN]

    5

    Name of the IRP non-resident counterparty to the transaction/RAS

    Singapore Co

    6

    Tax residence of the IRP non-resident counterparty to the transaction/RAS

    SG

    7

    Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS

    0

    8

    Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS

    0

    9

    Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS?

    False

    10

    Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS?

    False

    11

    Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS

    17000000

    12

    Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS

    0

    13

    Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS?

    False

    14

    Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS?

    False

    15

    Amount of foreign exchange losses deducted for the transaction/RAS

    0

    16

    Amount of foreign exchange gains returned for the transaction/RAS

    0

    17

    What transfer pricing / capital asset pricing methodology has been applied to the transaction/RAS?

    CP

    18

    What level of transfer pricing documentation has been prepared for this transaction/RAS?

    6

    19

    If the reporting entity is a bank and transaction is in a RAS, has the special short term tenor rule for ordinary borrowings and ordinary loans been applied to this RAS?

    False

    20

    If the reporting entity is a bank and this transaction is in a RAS, has the special short term tenor rule for short term derivatives been applied to this RAS?

    False

    21

    If the reporting entity is a bank and this transaction is in a RAS, has the special rule for FX derivatives been applied to this RAS?

    False

    22

    If the reporting entity is an OBU, is this transaction/RAS an OB activity?

    False

    23

    Is this transaction/RAS covered by a category on the Exclusions List?

    False

    24

    What category of the Exclusions List applies to this transaction/RAS?

    na

     

    End of example

     

    Example 6: R&D and other services provided to Swiss IRP

    Aus Co is a company resident in Australia for tax purposes.

    Aus Co has an income tax year ending 30 June.

    Aus Co’s functional currency for Australian tax purposes is Australian dollars

    During the income year, Aus Co via agreement (the Agreement), assigned its beneficial interest in certain patents to an IRP resident for tax purposes in Switzerland (Swiss Co) for A$100m.

    Under the same agreement, Swiss Co granted Aus Co a non-exclusive licence for 10 years to use the same patents for:      

    • an upfront payment of A$10 million
    • an annual licence fee of A$5 million.

    Under the same agreement, Aus Co agreed to provide services to Swiss Co in relation to the development of new technology and patents.

    There was a current agreement, entered into prior to the income year, under which Aus Co was granted a non-exclusive right to use trademarks by an IRP resident for tax purposes in Ireland (Irish Co), for a licence fee of US$15 million per annum.

    All the services provided by Aus Co to Swiss Co during the income year under the Agreement fall within the transaction category Research and development services.

    The service fees payable to Aus Co by Swiss Co for these R&D services was payable in Australian dollars. The aggregate service fees payable by Swiss Co for these R&D services for the income year was $8 million as shown in Aus Co’s accounting records.

    The total amount returned in the income year by Aus Co in connection with this R&D services transaction/RAS is not less than A$2 million or less than 2% of Aus Co’s total IRPD revenue, so the R&D services transaction/RAS does not satisfy the category of ‘Low value / low risk services agreements’ on the exclusions list.

    Aus Co has also entered into a separate agreement with Swiss Co under which Aus Co provides Swiss Co with customer support services in connection with products sold by Swiss Co to Australian customers.

    All the customer support services provided by Aus Co to Swiss Co during the income year under this separate agreement fall within the Sales and marketing services transaction category.

    The service fees payable to Aus Co by Swiss Co for these sales and marketing services was payable in Australian dollars. The aggregate service fees payable to Aus Co by Swiss Co for these sales and marketing services for the income year was $1 million as shown in Aus Co’s accounting records.

    The total amount returned in the income year by Aus Co for amounts payable by Swiss Co for sales and marketing services is less than A $2 million. These sales and marketing services were not provided in connection with:

    • the use or enjoyment of any trademark, patent, design, copyright, other intellectual property, secret formula or process or similar property or rights, or
    • any other IRP agreement.

    The separate agreement under which Aus Co provides Swiss Co with the customer support services solely covers:

    • the provision or receipt of services
    • rights and obligations in connection with effecting the provision or receipt of the services.

    The sales and marketing services transaction/RAS therefore satisfies the category of 'Low value / low risk services agreements' on the exclusions list.

    The R&D services provided by Aus Co to Swiss Co and the sales and marketing services provided by Aus Co to Swiss Co cannot be included in the same RAS because the services provided are not the same kind of services. For more information about when IRP transactions are covered by agreements that can be included in the same RAS, refer to Local file – Part B: Guidance on providing international related party agreements.

    Aus Co did not pay or obtain any consideration of a capital nature in relation to the provision of any of the services it provides to Swiss Co.

    Aus Co did not receive or obtain any non-monetary consideration in relation to the provision of any of the services it provides to Swiss Co.

    Aus Co has applied the transfer pricing methodology ‘Cost plus method’ to both the R&D services transaction/RAS and the sales and marketing services transaction/RAS.

    Aus Co has prepared relevant contemporaneous transfer pricing documentation for 100% of the R&D services transaction/RAS and the sales and marketing services transaction/RAS.

    Aus Co completes the Questions for the services transactions / RAS in this example based on its accounting records as shown in the following tables.

     

    Table 6: Completed entry – Provision of services to Swiss IRP (R&D services)
    Table 6: Completed entry – Provision of services to Swiss IRP (R&D services)

    Question no.

    Question label

    Response

    na

    Local file – Part A Transaction Identifier

    [Transaction ID]

    1

    Transaction category

    RD

    2

    Is this transaction part of a RAS?

    False

    3

    How many transactions are part of the RAS?

     

    4

    ABN or TFN of the Australian counterparty to the transaction/RAS

    [ABN or TFN]

    5

    Name of the IRP non-resident counterparty to the transaction/RAS

    Swiss Co

    6

    Tax residence of the IRP non-resident counterparty to the transaction/RAS

    CH

    7

    Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS

    0

    8

    Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS

    0

    9

    Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS?

    False

    10

    Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS?

    False

    11

    Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS

    0

    12

    Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS

    8000000

    13

    Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS?

    False

    14

    Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS?

    False

    15

    Amount of foreign exchange losses deducted for the transaction/RAS

    0

    16

    Amount of foreign exchange gains returned for the transaction/RAS

    0

    17

    What transfer pricing / capital asset pricing methodology has been applied to the transaction/RAS?

    CP

    18

    What level of transfer pricing documentation has been prepared for this transaction/RAS?

    6

    19

    If the reporting entity is a bank and transaction is in a RAS, has the special short term tenor rule for ordinary borrowings and ordinary loans been applied to this RAS?

    False

    20

    If the reporting entity is a bank and this transaction is in a RAS, has the special short term tenor rule for short term derivatives been applied to this RAS?

    False

    21

    If the reporting entity is a bank and this transaction is in a RAS, has the special rule for FX derivatives been applied to this RAS?

    False

    22

    If the reporting entity is an OBU, is this transaction/RAS an OB activity?

    False

    23

    Is this transaction/RAS covered by a category on the Exclusions List?

    False

    24

    What category of the Exclusions List applies to this transaction/RAS?

    na

     

    Table 7: Completed entry – Provision of services to Swiss IRP (Sales & marketing services)
    Table 7: Completed entry – Provision of services to Swiss IRP (Sales & marketing services)

    Question no.

    Question label

    Response

    na

    Local file – Part A Transaction Identifier

    [Transaction ID]

    1

    Transaction category

    SAM

    2

    Is this transaction part of a RAS?

    False

    3

    How many transactions are part of the RAS?

     na

    4

    ABN or TFN of the Australian counterparty to the transaction/RAS

    [ABN or TFN]

    5

    Name of the IRP non-resident counterparty to the transaction/RAS

    Swiss Co

    6

    Tax residence of the IRP non-resident counterparty to the transaction/RAS

    CH

    7

    Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS

    0

    8

    Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS

    0

    9

    Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS?

    False

    10

    Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS?

    False

    11

    Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS

    0

    12

    Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS

    1000000

    13

    Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS?

    False

    14

    Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS?

    False

    15

    Amount of foreign exchange losses deducted for the transaction/RAS

    0

    16

    Amount of foreign exchange gains returned for the transaction/RAS

    0

    17

    What transfer pricing / capital asset pricing methodology has been applied to the transaction/RAS?

    CP

    18

    What level of transfer pricing documentation has been prepared for this transaction/RAS?

    6

    19

    If the reporting entity is a bank and transaction is in a RAS, has the special short term tenor rule for ordinary borrowings and ordinary loans been applied to this RAS?

    False

    20

    If the reporting entity is a bank and this transaction is in a RAS, has the special short term tenor rule for short term derivatives been applied to this RAS?

    False

    21

    If the reporting entity is a bank and this transaction is in a RAS, has the special rule for FX derivatives been applied to this RAS?

    False

    22

    If the reporting entity is an OBU, is this transaction/RAS an OB activity?

    False

    23

    Is this transaction/RAS covered by a category on the Exclusions List?

    True

    24

    What category of the Exclusions List applies to this transaction/RAS?

    LVLRSA

     

    End of example
      Last modified: 26 Apr 2018QC 52807