New York (Nov. 7, 2003) -- Transfer pricing is the most important international tax issue encountered by multinational corporations, according to a survey by Big Four firm Ernst & Young.

Some 86 percent of parent companies or multinational entities and 93 percent of subsidiaries responding to E&Y’s Transfer Pricing 2003 Global Survey identified transfer pricing as the most important international tax matter they are currently dealing with. Those surveyed also indicated that audits by tax authorities are becoming a rule, rather than an exception.

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