When you’re a global or international company, you have to be concerned with transfer pricing, which involves determining what to charge your affiliated entities for the products and services you provide. Transfer pricing, or TP, is a huge issue when you have multiple locations all over the world, in part because Thailand’s Revenue Department can investigate TP issues and even charge you with extra taxes, penalties, and surcharges if they like. The good news is that there are companies that provide all types of global transfer pricing services that can help you avoid TP issues so your business doesn’t get in trouble this way.
What Is Involved with TP Issues?
The companies that help you avoid TP problems are familiar with all national and international laws and regulations, and they use that knowledge to make sure you are in compliance with all of them. From advising you about taxes to providing you with some assistance should you have to go through an audit, these companies are right beside you so you can worry a lot less about any issues regarding transfer pricing. They can conduct benchmark studies and produce reports that tell you where you stand, provide the documentation and compliance reports needed for an audit, and even work with the tax authorities during an audit to make sure your business is well-represented.
These companies also work with both small and large businesses and offer not just assistance, but real solutions so that you can feel confident that any audit by the TP experts will turn up nothing. The revenue department takes these audits very seriously, but if you’re working with advisors who specialize in issues related to transfer pricing, you can feel a little more confident that you won’t get investigated anytime soon. The companies have experts who are experienced in all areas of transfer pricing, so regardless of where you stand right now, they’ll make sure you are doing things right from now on.
Let the Experts Do the Work for You
Companies that offer TP assistance will assess your risks so that you can know where your weak areas are, as well as your strong areas. They are familiar with both Thai regulations and the regulations of other countries, and this well-rounded ability allows them to provide you with expert advice and assistance, which allows you to know just what to do to reduce the odds of being audited due to TP issues.