The implementation of tax compliance management systems is a hot topic in multinational firms since several years. The definition and implementation of binding processes and systems aim at ensuring tax compliance and achieving legal protection for the responsible persons.
The OECD-BEPS initiative has increased transparency and documentation requirements in transfer pricing. As transfer pricing is a key factor for determining the taxable income in multinational firms, tax risk positions are expected to increase over the next years.
Transfer pricing should be carefully managed within multinational firms and be integrated in the group-wide tax compliance management system. Well-structured and understandable guidelines and processes concerning the determination and documentation of transfer prices as well as an ongoing compliance monitoring transfer pricing and manage and reduce risks effectively.
QUANTUM assists clients in integrating transfer prices consistently in group-wide tax compliance management systems:
- “Health Check” to identify a potential need for action
- Planning and implementation of a tailer-made transfer pricing system
- Development and implementation of guidelines and processes to apply a group-wide uniform transfer pricing policy and to collect relevant information for purposes of transfer pricing documentation and country-by-country reporting
- Deadline calendars for the submission of transfer pricing documentations and country-by-country reporting