Global Core Documentation™ (GCD) develops co-ordinated global transfer pricing documentation and defence files that are consistent with a multinational company's needs in multiple jurisdictions.
Taxpayers have historically used a country-by-country approach involving stand alone projects in multiple countries. This frequently results in duplication of data collection efforts and transfer pricing reports that are inconsistent with the global needs of the company. A co-ordinated "Global Core Documentation" project involves the preparation of a "core" document package that is used by each country in the efficient preparation of separate country reports that satisfy each country's specific requirements.
The philosophy of the core documentation is to collect common data and background information that can be shared among the countries requiring documentation, thus avoiding duplicate collection efforts and ensuring a coordinated approach to the analysis.
Most countries' transfer pricing documentation requirements include a functional analysis, an economic analysis, a financial analysis, and the selection of the most appropriate transfer pricing methodology. The specific application of these steps will vary by country, but the shared characteristics of each step provide the opportunity for streamlining the documentation process. The responsibility for each country's report is in the hands of the local Transfer Pricing partner, but the process is co-ordinated globally to ensure consistency and accuracy in factual disclosure.
How we can help you
PricewaterhouseCoopers' global transfer pricing group will provide your company with transfer pricing planning by identifying audit exposures and opportunities to optimise transfer pricing results. We will help you successfully and economically defend your tax strategies, as well as comply with diverse documentation requirements.
