Editions by Evelyn Partners: How to optimise and simplify your transfer pricing

International businesses are operating in a challenging environment, which is dominated by global tax reforms, supply chain changes, and increased complexity and uncertainty. It is therefore essential that your business has a clear view of the road ahead and the best way to navigate it.

Transfer pricing is often seen as a backward-looking compliance function - focused on managing the risk of a tax authority challenge. While it is always essential to manage risk, especially given the increased number of disputes we are seeing across our client base, transfer pricing can contribute to optimising your tax position and achieving scale.

We are also seeing that as governments become more sophisticated with their use of businesses data, it is becoming increasingly important to have a strong governance environment and process in place for running your transfer pricing. This will help reduce errors, alleviate the drain on resources from data collection & manipulation for TP needs, improve evidence capture and reduce time spent on audits.

Find out more about:
• How transfer pricing can drive tax efficiency and facilitate international expansion
• The new UK transfer pricing documentation rules, effective from 1 April 2023
• Current transfer pricing focus areas for HMRC and other tax authorities
• How to simplify your transfer pricing calculations and link them to other tax and business processes
• How to improve your governance environment to reduce risk and save time.

This recording will highlight the importance of establishing a robust transfer pricing framework from the outset, and the benefits this will bring during a period of accelerated growth in international markets. It will also outline some of the risks and pitfalls that need to be considered, and how these can be addressed proactively.