Are you struggling to find time and resources to prepare up-to-date transfer pricing documentation for all your group companies? We at PwC Finland have developed an easy-to-use desktop software solution tool that enables fast creation of transfer pricing documentation (master file and local files) compliant with the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations.
Follow these five steps and you are ready to print out the files you need!
Step 1: Use our import feature to import relevant information on the separate entities in your group
Step 2: Use our import feature to import the intra-group transactions for the fiscal year you are documenting
Step 3: Link the intra-group transactions to relevant functional- and comparability analysis
Step 4: Prepare the company overviews for relevant group entities
Step 5: Insert final pieces of information to be used in the master file e.g. key value drivers
The tool ensures you have consistent transfer pricing documentation throughout the group (terminology, language, transaction characterisation) helping you to mitigate risk of documentation penalties and burdensome transfer pricing audits.
The tool also features an optional Country-by-Country Report (CbC Report) functionality enabling those who are obliged to file a CbC Report to do so in the XML format required by the Finnish Tax Administration. Combining the transfer pricing documentation and CbC Report in the same tool ensures that your group entity characterisation for transfer pricing purposes is reflected in your CbC Report.
This is not just another ordinary documentation process tool you probably have seen on the market already: this tool actually creates documentation for you based on the master data you have inserted. The master data is inserted only once, and any updates will run automatically throughout relevant documents. With our tool you can centralise the preparation of group transfer pricing documentation and gain significant savings timewise without giving up on quality.
You don’t have to have vast experience in transfer pricing documentation in order to use the tool. The tool guides you by asking for data it needs in order to create transfer pricing documentation and uses the data coherently in all documents.
We take care of any updates needed in the tool whenever OECD changes its guidance on transfer pricing documentation.
With our tool you gain significant savings timewise without giving up on quality
Partner, Tax Services, PwC Finland
Tel: +358 (0)20 787 7793
Lead Solution and Software Developer, PwC Finland
Tel: +358 (0)20 787 8191
Transfer Pricing, PwC Finland
Tel: +358 (0)20 787 7203