Value to your company
In addition to requiring compliance with local transfer pricing rules, tax authorities are also escalating audit and inspection activity related to transfer pricing. To see twenty or thirty consecutive audits is no longer rare, and the number of jurisdictions imposing strict penalties for failure to comply with transfer pricing documentation requirements is growing.
In the face of the increased fiduciary and legal responsibilities being imposed to comply with specific transfer pricing documentation requirements of multiple tax jurisdictions, the need for you to have effective and consistent transfer pricing documentation is paramount.
So what can you do?
To defend your transfer pricing practices and results you need an efficient and uniform framework for producing the required level of documentation. Our Global Coordinated Documentation (GCD) service is designed to help you do this. It will facilitate the development of coordinated and robust global transfer pricing documentation and identify any opportunities for planning. And it will enable you to determine where to focus your efforts and deploy resources - making sure the specific local-country tax authority requirements are met. More importantly, you won’t lose any consistency between the different territories.
GCD will collect common data and background information and store it centrally - sharing it among the countries that require documentation. By centralising the preparation of a 'core' document, as well as a local documentation package that will be used by each country requiring transfer pricing documentation, means you will have more control and visibility of, and confidence in your transfer pricing documentation at any given time.
GCD offers two different levels of documentation; GCD and GCD Plus. The service appropriate for you will depend on your needs, the territories in which you operate, your growth predictions and any audit risks and requirements.