Do you have a standard transfer pricing policy in place? In recent Thomson Reuters’ polls of 70 tax executives and controllers, nearly half do not have a standard process in place for transfer pricing planning, pricing and documentation.
The latest version of ONESOURCE Transfer Pricing is the first solution of its kind to target a company’s entire transfer pricing workflow process, including data collection, policy creation and documentation.
“While companies may have sound transfer pricing documentation in place, research shows that few have all the necessary components to ensure compliance with confidence,” said Joe Harpaz, managing director of the corporate division within the Tax & Accounting business of Thomson Reuters., in a statement “With global enforcement on the rise, there is a critical need for an end-to-end transfer pricing solution.”
New and updated components that are instrumental to this end-to-end solution include software and services related to:
- Transfer Pricing Analyzer (TPA) that provides users with a single, up-to-date view of transfer pricing obligations across key jurisdictions around the world, and the ability to apply such rules in the context of a single company resident in one of the jurisdictions covered.
- Updated data collection features in the Documenter and Benchmark web-based solutions that enable corporations to analyze the arm’s-length nature of tangible, intangible, and service transactions.
Want to learn more? Visit Tax.ThomsonReuters.com/products/brands/onesource/onesource-transfer-pricing/.
This news can also be found on: