Objectives of the Transfer Pricing Advisory Service

The service helps businesses in preparing declarations, gathering data, and reporting on related-party transactions during the financial year. Specifically, it includes:

Guidance on gathering and storing related-party transaction data: Our experts provide detailed instructions on how to collect and store data according to prescribed forms.

Preparation of transfer pricing reports: We provide appropriate market-based pricing methodologies for related-party transactions.

Transfer pricing risk alerts: This service helps identify and address any potential transfer pricing tax risks.

Support in explaining data to tax authorities: We assist in explaining the database to tax authorities when required.

Scope of the Transfer Pricing Advisory Service

1. Review and Identification of Related Parties and Transactions

We begin by reviewing and identifying related parties and all associated transactions that occurred during the fiscal year. Businesses are required to provide the necessary data for analysis.

2. Guidance on Information Collection and Storage

Our consultants offer guidance on gathering and storing related-party transaction data using standardized formats, helping businesses stay compliant.

3. Preparation of Transfer Pricing Documentation

We prepare detailed transfer pricing reports that include functional, risk, industry, and financial analyses, along with the selection of the appropriate pricing method.

4. Identification of Transfer Pricing Risks

We alert clients to any potential transfer pricing tax issues, helping them be better prepared for tax audits and avoid future disputes.

5. Provision of Benchmarking Data

We provide benchmark data to support and justify transfer prices with tax authorities, ensuring alignment with independent transactions.

6. Responding to Tax Authority Inquiries

We support answering tax authorities’ questions related to transfer pricing. However, we do not represent the business in direct discussions or hearings.

Responsibilities of Parties Involved

Responsibilities of Party A (Client):

• Provide accurate and complete information to the consultant.
• Promptly inform about any changes affecting the advisory work.
• Ensure the accuracy of all submitted documents and data.

Responsibilities of Party B (Consultant):

• Provide accurate and effective advice in compliance with current regulations.
• Submit formal reports based on the information received from Party A.
• Maintain confidentiality of the client’s business data, sharing only when legally required or with permission.

Benefits of Using Transfer Pricing Advisory Services

This service brings many benefits to businesses, including:

Legal compliance: Helps ensure compliance with tax laws and reduce legal risks related to transfer pricing.

Minimizing tax risks: Assists in identifying and addressing transfer pricing issues.

Saving time and cost: Helps businesses reduce time and resources spent on tax documentation and explanations.

Conclusion
Transfer pricing advisory is a vital solution to help businesses manage related-party transactions effectively and comply with tax regulations. If you are looking for a reliable and professional partner, contact us for dedicated and accurate support.