With pressure from tax authorities, Transfer Pricing climbs the corporate agenda

A new focus on Transfer Pricing has brought it into the corporate and political limelight, requiring tax professionals to assist corporations in their requirements to national tax authorities. Tax professionals with this skill look like to be in high demand in the forseeable future for both permanent employment and interim project work, writes interim specialist Marisa Hari.

The increased pace of globalisation, with multinationals accounting for 60% of world trade, has been a catalyst that has raised the profile of Transfer Pricing. A matter which was once discussed only amongst tax professionals is now being debated between politicians and business people. Furthermore the importance of Transfer Pricing is emulated by the key fact that if a business does not structure its tax liability correctly, it can face astronomical penalties.

This has been highlighted by the HMRC's ruling that DSG International (owner of electrical retailer Dixons) has been in breach of transfer pricing guidelines. Presently a leading figure from the HMRC indicated that between 75 and 100 new transfer pricing enquiries have been issued within this financial year end and this looks set to increase in the next months.

This has led to Heads of Tax within FTSE 100 and 250 businesses to look at their own Transfer Pricing structure. Consequently, an increase in demand for interim Transfer Pricing specialists to assist companies has followed.

Specialists are in high demand for:-

• Drafting and implementing transfer pricing policy
• Re-structuring the existing transfer pricing framework
• Performing various transfer pricing reviews
• Compiling transfer pricing reports
• Conducting benchmark studies

If you are keen to learn more about the transfer pricing tax jobs market, please contact Marisa for a confidential discussion.