The rapid globalisation of business operations, cross border trade and investment activities are attracting growing scrutiny and information sharing between revenue authorities world-wide.

This increased focus and international efforts led by the Organisation for Economic Co-operation and Development (OECD) and G20 means companies must 'get transfer pricing right' or face potentially costly consequences.

Australian regulations are broadly consistent with the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) plan. We join over 135 countries in collaborating to put an end to tax avoidance strategies that exploit gaps and mismatches in tax rules to avoid paying tax.

BEPS has put in place a significant increase in transfer pricing documentation requirements and country-by-country reporting. As a result, revenue authorities are becoming even more aggressive in penalising non-compliant transfer pricing arrangements.

This puts more pressure on Australian businesses to operate within an ever-changing compliance environment. PKF’s transfer pricing specialists provide leading solutions to ensure you stay ahead of the game.