PricewaterhouseCoopers (PwC) Luxembourg today announced the release of a reference guide covering a range of transfer pricing issues in nearly 100 countries worldwide as globalisation and the continued growth of international trade make inter-company pricing an everyday necessity for many businesses.

New regulations, audits and enforcement actions with higher penalties continue to growth, and in an era of fiscal shortfalls transfer pricing is often seen as a soft target for tax authorities. As an increasing number of countries implement new transfer pricing documentation requirements, PwC has decided to establish a reference book covering 100 companies, including Luxembourg.

Transfer pricing is an area which continues to experience significant changes, with several new countries implementing either formal or informal transfer pricing documentation requirements and significant regulatory changes in many other countries taking place over the course of the past year. The deliverables released as part of BEPS have resulted in the need for companies to re-evaluate and reconsider their transfer pricing strategies in light of the proposed new guidance.

"Every company should have a coherent transfer pricing policy which is responsive to the rapidly changing markets in which they operate," stated Loek de Preter, partner and Transfer pricing Leader at PwC Luxembourg. "By implementing sound transfer pricing policies, reassessing them regularly can produce huge benefits in the form of a competitive and sustainable tex rate, and leave the company well positioned to defend against aggressive tax audits."

The PwC International Transfer Pricing 2015/16 is available at http://www.pwc.com/gx/en/services/tax/transfer-pricing/itp-download.html

 

Photo by PwC Luxembourg (Loek de Preter)