How to Increase Confidence and Efficiency in Operational Transfer Pricing
Webinar Wednesday, 19 May 2021 16:00 – 16:45 CET
Any tax professional knows that the minimum threshold of compliance is having a transfer pricing policy, transfer pricing reports and intercompany legal agreements to explain the group’s business model(s). Operational transfer pricing is embedding and monitoring the business model(s) within the group. One can say that operational transfer pricing considers the financial results that the transfer pricing policies are trying to achieve, but what that actually means requires a far more granular understanding of some key areas:
- for price setting, understanding the intercompany transactions at the lowest level of detail possible, usually by SKU or product category.
- financial records—for price testing, the information available in the company's financial systems has to be assessed, including full cost information for the services or products it manufactures, commercial numbers and operating expenses.
- Intercompany legal agreements ensure that price setting corresponds with legal reality; these agreements have a broader purpose than just transfer pricing and are critical to any healthy operating model.
Being able to combine all these different processes, documents, and data in one platform like Workiva not only provides a significant reduction in time in executing these processes, but even more importantly, creates a coherent and consistent use of data from one process to another, ultimately resulting in automatically pushing the numbers from the operational transfer pricing process through the local transfer pricing documentation.
Join experts from Workiva, LCN and Taxtimbre to hear how to efficiently manage transfer pricing content and increase trust throughout an operational transfer pricing process.
To register for this event, please complete the form available here.