After a slowdown in tax investigations during the pandemic, tax disputes are on the rise again against a backdrop of public borrowing increase during the pandemic and energy-crisis. KPMG’s latest report on Navigating the global tax disputes landscape found that transfer pricing issues were the most common type of dispute encountered in the past 12 months. In the UK, HMRC are approaching transfer pricing compliance checks with increasing rigour, with a strong focus on detailed fact finding and evidence testing.
So, what can tax leaders do to minimise the risk of facing a TP-related tax enquiry?
In this video, Erica Perry, UK Head of Transfer Pricing, Graeme Webster, Partner, Financial Services Transfer Pricing, and Nick Stevart, Director, Corporates Transfer Pricing, discuss the steps tax leaders can be taking today to minimise the risk of TP disputes between taxpayers and HMRC.
For more information on how KPMG can help you, get in touch with Erica Perry or your KPMG representative.
