With regard to the transfer pricing, this applies both to your traditional TP planning and documentation exercises as well as to your operational TP activities (that is, the actual implementation of your TP policies). By effectively relying on data and technology, manual processes can be automated, thereby reducing error, ensuring compliance, and increasing overall efficiency.
Transfer Pricing Technology is suitable for:
- Conducting risk analyses (e.g. Country-by-Country Reporting).
- Performing benchmarking studies.
- Allocating costs.
- Establishing and monitoring intercompany pricing.
- Identifying potential improvements in the transfer pricing methodology.
Additionally, transfer pricing technology simplifies the preparation, management, and storage of transfer pricing documentation. Tax technology and transfer pricing technology are most effective when combined with a solid policy and well-structured procedures and processes.
Which Transfer Pricing Technology?
We would be happy to discuss with you which technology best suits your organization. In our approach, we consider tools developed by KPMG and third parties. We also assess technology and systems already in use that we may be able to leverage for transfer pricing.
Our Approach to Transfer Pricing Technology
Our approach is scalable. We adapt to the needs and size of your company. We assess and describe the processes and control measures, and select and implement the most suitable technology. This way, we automate the desired transfer pricing processes.
In addition to transfer pricing, we also use tax technology tools, such as advanced data analytics, in other tax areas. For example, we use our Digital Gateway platform not only for managing transfer pricing documentation but also for complying with other tax obligations.
KPMG Digital Gateway technology
Digital Gateway is KPMG's proprietary cloud-based platform. It enables companies to adapt to the ever-increasing expectations of internal stakeholders, management, business partners, and regulators.
With KPMG Digital Gateway, companies gain insights into the global landscape through advanced analytics. This allows us to improve tax function procedures at the group level, better manage risks, and formulate actionable steps. Our transfer pricing specialists work closely with the experts from Tax Management Consulting to develop solutions that best fit your organization.
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