Our experts assist clients in identifying threats and areas of risk relating to transactions with associated parties, as well as in assessing the accuracy of transfer pricing documentation.
A transfer pricing audit may cover annual or five-year periods (within the limitation period for tax liabilities relating to corporation tax, personal income tax or VAT). It may take the form of a comprehensive review or be limited to issues selected by the client relating to transactions between associated entities. Each audit concludes with a report setting out the identified irregularities and proposals for solutions aimed at minimising the selected risks.
Scope of the transfer pricing audit
DMS TAX specialists assist clients with:- assessing the tax risk associated with identified non-compliance issues,
- assessing tax opportunities arising from identified areas for improvement or changes in the interpretation of regulations,
- analysing the potential of the existing transfer pricing policy and directions for its improvement or amendment
as well as many other activities depending on our clients’ current and future needs. A transfer pricing audit does not include an examination of the market level of prices applied in transactions between related parties in relation to market prices – we provide services of this kind as part of comparability analyses and valuations.
We would be happy to provide detailed information on transfer pricing audits. Please feel free to contact our advisors.