The Intercompany Cost Plus Agreement is essential for multinational companies operating in Malaysia that engage in related-party transactions involving service provision. This document is particularly relevant when one entity within a corporate group provides services to another related entity and requires a structured approach to pricing these services. The agreement must comply with Malaysian transfer pricing regulations, including the Income Tax Act 1967 and Transfer Pricing Rules 2012, while following IRBM guidelines for documentation and reporting. It is commonly used for shared services arrangements, management services, technical support, and other intercompany service provisions where costs need to be allocated and marked up in accordance with the arm's length principle.
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1. Parties: Identification of the service provider and service recipient entities, including registration details and addresses
2. Background: Context of the agreement, relationship between the parties, and purpose of the arrangement
3. Definitions: Definitions of key terms used throughout the agreement, including technical and financial terms
4. Scope of Services: Detailed description of services to be provided, including specific inclusions and exclusions
5. Cost Determination: Methodology for calculating base costs, including direct and indirect cost allocation
6. Mark-up Structure: Specification of the agreed mark-up percentage and basis for calculation
7. Billing and Payment Terms: Invoicing procedures, payment terms, currency, and payment methods
8. Documentation Requirements: Required records, reports, and documentation to support the cost-plus arrangement
9. Compliance and Governance: Compliance with transfer pricing regulations, reporting requirements, and governance procedures
10. Confidentiality: Provisions for protecting confidential information exchanged under the agreement
11. Term and Termination: Duration of the agreement and conditions for termination
12. Dispute Resolution: Procedures for resolving disputes between parties
13. General Provisions: Standard legal provisions including notices, amendments, and governing law
1. Performance Standards: Include when specific service levels or performance metrics need to be maintained
2. Audit Rights: Include when regular audits of cost calculations and documentation are required
3. Intellectual Property Rights: Include when services involve creation or use of intellectual property
4. Staff and Resources: Include when specific personnel or resource requirements need to be specified
5. Force Majeure: Include when parties want specific provisions for unforeseen circumstances
6. Insurance: Include when specific insurance coverage requirements are needed
7. Anti-Corruption Compliance: Include when transactions involve high-risk activities or jurisdictions
1. Schedule 1 - Service Description: Detailed description of each service category and specific deliverables
2. Schedule 2 - Cost Components: Detailed breakdown of cost categories and allocation methodologies
3. Schedule 3 - Mark-up Calculation: Detailed methodology for calculating and applying the mark-up
4. Schedule 4 - Reporting Templates: Standard templates for regular reporting and documentation
5. Schedule 5 - Key Personnel: List of key contacts and responsible personnel from both parties
6. Appendix A - Transfer Pricing Documentation: Required documentation to support the transfer pricing methodology
7. Appendix B - Compliance Checklist: Checklist of regulatory and documentation requirements
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