What's the Deal with Local Files and Local Documentation?

All Local Files are Local Documentation, but not all Local Documentation are Local Files. That being said, in certain countries, if you provide a Local File, that might meet your Local Documentation obligation. Wait, what?

When it comes to transfer pricing compliance, each jurisdiction sets their own rules for transfer pricing documentation. Fortunately, the OECD/G20 outlined specific guidance for what ought to be included in a "Local File" to promote global consistency.

Our host Brittany Hardin Tanguay is joined by Scott Nestberg, a Principal in the KPMG Transfer Pricing practice, and Anne Gualano, a Managing Director in the KPMG Transfer Pricing practice, and together they lay out some of the differences between OECD Local Files and other types of Local Documentation, and discuss some of the approaches and challenges to preparing these reports.