Data collection is a daily to-do in the tax department. But as data streams turn to floods, many companies are struggling to stay afloat. How are leading organizations – both large and small – steering the tax team from data collection to value extraction? And how could technology empower your transfer pricing function?
Let’s start with the good news. Transfer pricing documentation isn’t rocket science. For many organizations, though, documentation duties can be black hole of never-ending tasks. For confidence in compliance, companies need to shift to a process mindset.
Risk management is embedded in today’s business. Whether driven by reporting requirements, operational concerns for risk exposure or strategic considerations regarding risk appetite, companies increasingly have risk on the management radar. But what about risk management in transfer pricing?