The Art of Transfer Pricing

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Today we will be covering one lesser understood topic of transfer pricing arrangements.
Transfer pricing occurs where there is an arms length cross borders transaction. In other words, if you own a company in country A, and another company in country B and these two companies do business with each other this is what's called transfer pricing.
Because these companies have the same owner, there is a set of rules to navigate how these companies can do business with each other.
These rules exist so you cannot adjust the prices in one company, and use this as the means to pay less taxes. One of the basic principles of transfer pricing is that you need to apply fair arms length rates (when buying or selling products or services).
To put it simply, if you hire your own company to do business for another company (that you also own) you must pay fair market prices that you would pay if you were to hire a competitor.
But how do you actually do this is a whole other story. Setting up transfer pricing is an art, rather than a science.
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