TAIPEI - Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, announced that it has signed a two-year contract with the National Tax Administration (NTA) of Taiwan to provide use of its ONESOURCE Transfer Pricing benchmark database.
The use of ONESOURCE Transfer Pricing will provide NTA with greater accuracy and efficiency in evaluating whether the prices charged for intercompany transactions are in accordance with local Transfer Pricing Guidelines.
ONESOURCE Transfer Pricing offers NTA access to public company records worldwide, as well as intangible agreements. With complete and pertinent comparables data, NTA can better assess whether the arm’s-length range established by multinational corporations are in adherence to transfer pricing regulations.
The search and analysis process for comparables companies is also simplified using ONESOURCE Transfer Pricing Benchmark comparables search tool. Benchmark enables NTA to perform comparable company searches and analyses in an organised and optimised way. Searches and assessments can be conducted according to type of company, country of business and more.
“We are excited by NTA’s decision to turn to Thomson Reuters for its transfer pricing analyses. The use of ONESOURCE Transfer Pricing technology will go a long way in helping NTA assess intercompany transactions for compliance with global regulatory requirements,” said JaeSon Kim, vice president, Asia for the Tax & Accounting business of Thomson Reuters.
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