As a result of BEPS, new tax initiatives are driving compliance costs and time spent by MNE tax professionals upwards by 25%. Apart from new Transfer Pricing rules and conditions as proposed by the final BEPS reports, also new documentation and reporting rules have been introduced, i.e. the Master File, Local File and Country by Country Reporting.
These new regulations require efficient, timely collection and reporting of financial data throughout the organization and will dramatically increase the manpower involved in the transfer pricing operations, hence increasing the overall cost of compliance.
A fundamental question you need to ask yourself: “How can we ensure better control over our organization and manage our tax/TP function in a timely, cost effective and efficient manner?”
Whatever software solution you choose to help, Transfer Pricing software does not need to be complex. It is merely the decentralized organization of the Transfer pricing compliance cycle and the variety of Transfer Pricing models that causes issues and inefficiencies, hence undermining the company’s TP risk control. TPA Global Business Solutions helps you to rationalize your transfer pricing operating model and select the software solution that best fits with your organization’s needs by means of 10 key TP software functionalities.
Do you need an operational TP solution for converting financial source data into comprehensive intercompany transactions and invoices or do merely need software support for compiling your own documentation and CbC reporting tables in an efficient and consistent way? Depending on the options that you aspire, the efficiency of your TP compliance cycle can be increased by 50%.
Through our comprehensive approach, TPA Business will assist you in diagnostics, design and implementation stages of an efficient TP operations model bolstered by a hand-picked software solution. This enables you to attain a dramatic efficiency increase of your transfer pricing compliance cycle, releasing more time and budget for risk control, communication and other key tasks.
TPA Global brings to you TP software solutions in close cooperation with our trusted members and alliance partners.
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