No weak links: Reduce your risk and increase efficiency in transfer pricing execution

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PwC hosts the transfer pricing executive series

Ivan Williams, PwC Alberta Transfer Pricing Leader and guest speaker David Nickson, PwC US Principal and Global Leader of the End to End (E2E) Transfer Pricing Practice for PwC, discussed best practices around transfer pricing execution as well as practical suggestions for implementation at an event in Calgary in April 2013.

For the tax team, the practical execution of transfer pricing can present more frustration and confusion than legislation or regulation. While transfer pricing compliance is principally a matter for the tax team, responsibility for the execution of inter-company transactions requires shared responsibility with many other internal functions. This is made even more difficult in practice as there is rarely someone with oversight of the entire E2E process.

“Considering a more strategic approach that moves beyond typical ad-hoc activities and manual data collection, like a more efficient and aligned transfer pricing function, can help organizations realize a lot of value,” Williams said.

Ivan Williams, PwC Alberta Transfer Pricing Leader, has more than 10 years of transfer pricing experience, including audit defence and risk assessments. He is the author of a number of recent articles on transfer pricing, including contributions to the Canadian firm’s newsletter Transcend. He has co-authored articles for the Canadian Tax Journal and is a regular speaker for organizations such as the Tax Executive Institute and the Canadian Tax Foundation.

David Nickson is the PwC US Principal and Global Leader of the End to End (E2E) Transfer Pricing Practice for PwC. He develops E2E transfer pricing execution initiatives, helping clients develop their pricing strategies and embed them into their operational, accounting and IT functions.

Thought leadership

Beyond the tax department: transfer pricing 'end to end'
The author urges multinational companies to implement an ‘‘end to end’’ transfer pricing strategy that draws together the wider chain of activities into a clearly defined set of processes, moving the transfer pricing strategy all the way through the financial and operational systems to local financial statements and tax returns.


Presentation

Click here to access the presentation from the event.