Purpose and Product of this Service
With this service, we will review a client's compliance issues related to the determination of the associated transaction price, and provide the client with a review report that presents the findings. implemented to help customers improve as well as get the best preparation before the tax authorities officially enter the transfer pricing inspection.
Accordingly, our work steps will likely include the following:
- Communicate with customers in detail to understand their needs or concerns. Define and agree with the client on the scope of the test and the in-depth procedures to be performed.
- Work with the client's accounting/financial staff to collect relevant documents if any (For example declaration, detailed list of related party transactions, transfer pricing records, international records family,…); Overall check the declarations to make sure the information fields have been fully declared and according to the instructions
- Collect relevant information and data from customers about the Group and related transactions in accordance with current regulations
- Perform the necessary analysis: industry analysis, functional and risk analysis, financial analysis, linked transaction analysis, and economic analysis, including the application of transaction pricing methods link and comparative analysis
- Overall review and make judgments about risks and propose solutions to minimize risks before tax inspection. Send detailed reports to customers and have meetings to explain details when required.
Customers often use this service in the following cases:
- Customers want to know their tax compliance status to make plans to prepare for the upcoming inspection;
- Customers feel that there are big tax risks due to the specificity of the industry, or because they are not sure about the tax declaration process in the previous stages, or are not sure about the personnel level of the tax declaration department.
- The client discovers that there are some indications of tax errors, and wants to be independently checked to see if other errors exist.
- Customers have not been taxed for many years, so they don't feel secure