With a large number of entities in many countries it is difficult to have an efficient process for the preparation of the transfer pricing documentation and control of whether the local entities in the company group have fulfilled their local documentation requirements. Information is found in many different places which makes it important to set up clear roles and responsibilities for the preparation process. There are also different requirements in different jurisdictions which implies that you must ensure that the documentation meets local requirements. Furthermore, the complexity and process for preparation differs a lot depending on the significance of the business activity/transactions performed in an entity.
Coordination is not only necessary for in-house preparation since transfer pricing documentation is often prepared by external advisors. Thus, the in-house tax department should be able to coordinate work performed by an external party.
We support you in finding a process for identifying where your information concerning intra-group transactions can be found. Thereafter, we put in place a process to collect this in the most efficient way which enables you to get control of your transactions. This could be done via import of transactions into our Transaction identifier module by manual or automatic import, Excel upload or a combination. When you have identified and collected your transactions, you can specify the transactions with the necessary data, such as the type of transaction, pricing method (functional analysis, decide transfer pricing method and margin) and underlying agreement.
Manage your transfer pricing documentation in different ways.
There are a number of filing deadlines to keep track of for different departments. In the filing tracker module you can set up and follow deadlines for any process. For example:
Quality of data is of great importance. Our solution has many in-built functions to increase quality and ensure that you are in control of the entire process. Furthermore, data can be collected at the source which secures the accuracy of the input.
Our solution is for everyone! With a flexible solution you can adapt to the needs of different organizations. The modular approach together with configuration and customization possibilities allows you to get a solution that is relevant for you.
A good user experience is key in our solution. We help both editors and process owners by providing simple and clear processes and functions to minimize administration. Our interface is simple to use and the same structure is recurring throughout all modules.
As everyone has been assigned with roles and responsibilities with tasks to perform, your organization will save a lot of time by automating the data collection process. The collected data is always up to date which avoids work being done twice.
Digitalization of head office functions – what does it mean? Join us in a demonstration where you can start a digitalization journey with all of your group’s head office data.
What kind of head office data do you need – and how do you collect it in an efficient way? Together we will dive into your data to see how it can be structured in new ways.