Thomson Reuters has enhanced its ONESOURCE Transfer Pricing software with updated data collection features.

ONESOURCE Transfer Pricing helps global organizations automate and control data collection, policy creation and documentation, and ongoing financial monitoring to ensure compliance, as governments around the world move to tighten their transfer pricing regulations and strengthen enforcement. 

The Transfer Pricing Analyzer component of the software provides users with a single, up-to-date view of transfer pricing obligations across jurisdictions around the world. It offers the ability to apply rules in the context of a single company that resides in one of the jurisdictions covered by the software.

Updated data collection features in the Documenter and Benchmark part of the Web-based system enable corporations to analyze the arm’s-length nature of tangible, intangible and service transactions.

“While companies may have sound transfer pricing documentation in place, research shows that few have all the necessary components to ensure compliance with confidence,” said Joe Harpaz, managing director of the corporate division within the Tax & Accounting business of Thomson Reuters., in a statement “With global enforcement on the rise, there is a critical need for an end-to-end transfer pricing solution.” 

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