November 7, 2013
Thomson Reuters Provides SIM University with ONESOURCE Transfer Pricing
SINGAPORE - Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced that it has signed a Memorandum of Understanding with SIM University (UniSIM) to provide free use of its ONESOURCE Transfer Pricing technology for UniSIM's newest course "Applying Transfer Pricing" part of the Master of Taxation programme, the first and only programme of its kind in Singapore.
With increased scrutiny by tax authorities on intercompany transactions around the world, transfer pricing analysis and documentation, if done correctly, can demonstrate to tax authorities that a multinational corporation’s transfer pricing policies are established in adherence with arm’s-length principle.
Through its “Applying Transfer Pricing” course, UniSIM seeks to equip its students with knowledge and skills in evaluating transfer pricing policies against comparables data, and the preparation of transfer pricing documentation that stands up to tax authority scrutiny.
With ONESOURCE Transfer Pricing, the preparation of transfer pricing documentation is also simplified into an easy, step-by-step process. Multiple comparable company databases can be scanned simultaneously and the data exported for analysis in Microsoft Excel or Word. For compliance, supporting documentation can be produced from ONESOURCE Transfer Pricing in accordance with requirements of tax authorities around the world, or customized to meet a multinational corporation’s specific needs.
"Developing international tax expertise is critical for attracting investments and working within a global finance function. We are proud to offer ONESOURCE Transfer Pricing for UniSIM’s taxation curriculum. The ability to harness technology in transfer pricing analysis and preparation of documentation will go a long way towards helping UniSIM students gain a competitive edge in the workplace," said Tony Kinnear, managing director, ASEAN / North Asia, Thomson Reuters.
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets powered by the world’s most trusted news organisation. With headquarters in New York and major operations in London, Singapore and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to www.thomsonreuters.com