Transfer pricing (TP) happens whenever two companies that are part of the same group trade with each other. Transfer Pricing is now an important part of Nigeria Tax System after the publication of Nigeria Transfer Pricing Regulations in 2012. SR & BA assists our clients in identifying tax risk related to the application of intra-group transactions and also help in mitigating such risk. We help our clients in achieving the TP compliance requirements by FIRS; we provide the following Transfer Pricing services:
· Transfer pricing planning
· Transfer pricing implementation and monitoring
· Filing of transfer pricing returns
· Transfer pricing compliance and documentation
· Transfer pricing audit management and Controversy
· Adaptation to Change
We assist in developing economically supportable transfer pricing policies and in executing forward-looking tax planning.
Implementation and Monitoring:
We provide insightful advice on developing and implementing policies, procedures, controls and systems for setting, monitoring, and testing intercompany transactions.
We ensure proper TP Declaration and Disclosure; these are filed with the tax authority in compliance with Nigeria Transfer Pricing Regulations.
Compliance and Documentation:
We help manage risk within the current environment of detailed transfer pricing regulations, strict documentation requirements, sophisticated audit practices, and significant penalties for noncompliance with an objective point-of-view.
Audit Management Controversy:
We help resolve transfer pricing disputes through various services, including assistance with advance pricing agreements, competent authority negotiations, arbitration, and litigation support.
Adapting to change:
SR & BA keeps abreast of the changing business environment and regulation, so we integrate this as part of our service offerings. Beyond compliance with applicable transfer pricing policies, we take our clients through the process of forward-thinking approach for recognizing that TP issues have to be addressed long before transactions actually occur and to make their transfer pricing policies into strategic tools for investment and supply chain decisions, as well as for global tax planning.
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Seasoned Researchers & Business Advisors Ltd (“SR & BA”) is a company that was incorporated with a mission to providing a cutting edge financial and investment advisory services to our various clients across Nigeria and abroad. Also to providing a sound research and development assistance to a number of our clients that may need same for their product development and marketing strategy...Read more.