UHY International’s “Global Transfer Pricing Guide 2009” is now available

Sept. 21, 2009 - PRLog -- Global accountancy network, UHY announces the release of UHY International’s “Global Transfer Pricing Guide 2009” to assist tax and finance professionals responsible for cross-border tax issues at multi-national companies.

The 113-page guide features a country-by-country summary of major transfer pricing requirements, including pricing methods, documentation and penalties for over 70 countries.  Transfer pricing relates to the pricing of transactions such as transfer of goods, services, intangibles and funds that take place within affiliate subsidiaries of a multinational enterprise in different tax jurisdictions.  Transfer pricing is important because a change in the transfer price affects the allocations of profits within a multinational enterprise and among different taxing jurisdictions.

“As countries seek to maintain tax revenues in difficult economic times, tax authorities have become more aggressive in auditing transfer pricing of multinational groups, particularly when it comes to deductions for services performed by related parties and payments for the use of intangible property” said Meril Markley, Chair of the Tax Special Interest Group for UHY International.  “Surveys of multinational enterprises show transfer pricing as one of their top tax challenges.”  

Markley added:  “The guide provides a convenient, single source of information that includes relevant UHY International member firm contacts for more detailed information.”

The UHY Global Transfer Pricing Guide
The tax rates and rules indicated in this guide are those in effect at September 2009.  Every effort has been made to ensure the facts in this booklet are correct at the time of going to press.  These details are intended for general guidance only.  Each individual country’s tax rates are continually changing therefore it is not possible to provide detailed rules on which to base specific action here.  When more information is required on a country, reference should be made to the laws, regulations and tax treaties of the specific country.  No responsibility can be accepted for loss occasioned to any person acting or refraining from acting as a result of any material in this publication.  

The contents of the UHY Global Transfer Pricing Guide have been carefully compiled by 71 of the individual member firms of UHY, an international association of independent accounting and consulting firms.  The tax partners and staff of UHY member firms throughout the world combine knowledge with regional, national and international skill sets to help our clients achieve further business success.

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Established in 1986 and based in London, UK, UHY International is an association of independent audit, accounting and consulting firms with offices in over 211 major business centres in 72 countries. Over 7055 staff generated an aggregate income of US$667 million in 2008, ranking UHY International among the top 20 international audit, accounting and consultancy networks (by revenue). Each member of UHY International is a legally separate and independent firm. For further information on UHY International please go to www.uhy.com

UHY is a full member of the Forum of Firms, an association of international networks of accounting firms. For additional information on the Forum of Firms, visit www.ifac.org/Forum_of_Firms

For more information on UHY International, please contact Dominique Maeremans, Marketing & Business Development Manager, UHY International, Quadrant House, 4 Thomas More Square, London E1W 1YW, UK. Tel: +44 (0)20 7767 2621, or email: d.maeremans@uhy.com