Practical, Proactive & Cost Effective advisors, always!
We are thrilled to announce that we won the Fast-Growing Firm of the Year award at the Australian Accounting Awards 2020!
The Australian Accounting Awards is regarded as the most prestigious, recognising excellence across the entire accounting industry. The awards pinpoint professional development and innovation, showcasing both the individuals and firms that are leading the way in the industry.
This year due to social restrictions, Accountants Daily showcased the Australian Accounting Awards as a live broadcast virtual experience. They did a brilliant job in creating a sense of excitement and celebration. To witness fellow award winners and also to be a winner of an award is a brilliant feeling.
Our success would not have been possible without the support of our clients and team members. We promise to keep growing while staying true to our work and professionalism.
Winning does not always mean being first. Winning means you are doing better than you have done before!
We would also like to take this opportunity to congratulate all the other winners and finalists. Take a look here for the full list of award participants.
Transfer Pricing Solutions assists clients in the planning and preparation of transfer pricing documentation, country by country (CbC) reporting, comprehensive transfer pricing policy, performing global and local benchmarking comparable searches, providing training designed for CFOs and tax teams and performing transfer pricing controversy and audits. We cater to multinational enterprises (MNEs), small & medium size enterprises (SMEs) and accounting and law firms in Asia Pacific and globally.
With the new transfer pricing changes in Malaysia and the new transfer pricing documentation standard, a benchmarking analysis that is reliable and defendable, is key when preparing transfer pricing documentation. For this reason, we have compiled key tips that in our experience will help you getting a benchmarking analysis right.
The Inland Revenue Board of Malaysia (“IRBM”) adopts the arm’s length principle as a basis to determine the transfer price of a transaction between associated entities. Arm’s length price is the price which would have been determined if such transactions were entered between independent entities under the same or similar circumstances.
The arm’s length principle is the international standard to determine transfer price and is applicable to all Malaysian taxpayers that entered into a controlled transaction. In Malaysia, taxpayers are required to prepare and maintain contemporaneous transfer pricing documentation annually to prove compliance with the arm’s length principle.