A critical area of transfer pricing is to perform benchmarking comparable searches to test arm’s length outcome. Our firm has access to appropriate databases with reliable data; these databases are also used by tax authorities when performing client risk reviews and audits.
We have assisted many companies, accounting and law firms in various transfer pricing services including benchmarking study for wide range of industries both local and overseas.
With access to the full licence third party database and a large client base, we are able to provide our benchmarking study services that is cost effective while maintaining a high standard on deliverable deliverables.
For more information please visit our website dedicated to benchmarking analysis at www.transferpricingbenchmarking.asia
"Our company had a tax review by a foreign authority who was questioning our benchmarking financial results. Transfer Pricing
Solutions went through the comparability factors of our benchmarking comparable companies, and the tax authority proposed comparable
companies. Transfer Pricing Solutions challenged the tax authorities position and was able to successfully defend our benchmarking
range.
The result: no adjustments."
Financial Controller
Large Multinational Company
We provide benchmarking study services that is cost effective while maintaining a high standard on deliverables.
For domestic TP adjustments, a corresponding adjustment may be made to the taxable income of the other related party by the FTA.
A transaction is considered to meet the arm's length principle when the results of the transaction between related parties are consistent with the results of a transaction between unrelated parties.
Country-by-country (CBC) reporting is part of a broader suite of international measures aimed at combating tax avoidance.
All taxpayers that entered into transactions or arrangements with their Related Parties and Connected Persons needs to prepare the Disclosure Form.
The Federal Tax Authority (“FTA”) has the power to reallocate income or expenses between related parties through an analysis of whether the taxpayer has dealt at arm’s length.
On 9 December 2022, the Federal Decree-Law No. 47 of 2022 was released by the UAE, on the Taxation of Corporations and Businesses (“CT Law”).
