TP planning, documentation and assistance with compliance

This entails developing TP strategies and providing assistance in meeting

documentation and compliance requirements by assisting in the preparation of contemporaneous documentation in a timely manner, as required under the Indian TP regulations. In addition, it involves reviewing existing documentation and/or global documentation from an Indian TP perspective. Further, to ensure compliance, we can assist clients in preparing guidelines and procedures to keep their documentation up to date.

As tax jurisdictions expand their legislation, rulings, and enforcement efforts, an effective and flexible TP strategy must be global and sufficiently flexible to adapt as your business develops.

KPMG in India’s GTPS practice assists companies in their TP planning in the following ways:

• Help multinationals develop and implement commercially feasible and fiscally efficient TP policies
• Assisting companies in modifying existing policies to reflect changes in the local law or business circumstances and assessing the potential impact of TP policies on their overall tax position
• Assisting multinationals translate their TP policies into transaction-level prices, reconcile TP and customs requirements and automate TP calculations
• Assisting companies in testing and reporting transfer prices, and developing processes and tools to monitor TP results.

India’s TP regulations prescribe rigorous mandatory documentation requirements and impose steep penalties in case of non-compliance. Thus, multinationals need to ensure they comply with documentation and compliance requirements and also ensure that a system is in place for future compliances. KPMG in India’s GTPS team can help you meet your documentation and compliance requirements through the following ways:

• Assisting you in the preparation of contemporaneous documentation in a timely manner as required under the Indian TP regulations
• Reviewing your existing documentation
• To confirm that your company remains compliant in the future, we can assist you in preparing guidelines and procedures for keeping your documentation up to date.