Avalara debuts Transfer Pricing Reports for Accountants

Tax compliance solution provider Avalara announced the release of its new Transfer Pricing Reports for Accountants, which automates the transfer pricing documentation process while enabling firms — regardless of whether they have in-house transfer pricing expertise — to prepare transfer pricing reports for their clients in three steps: data collection, documentation review, and report generation.

Features of the new tool include:

• Support for documentation requirements of U.S. regulations and countries that have adopted OECD guidelines, covering both local file and master file;
• Predetermined global benchmarks based on best practices from publicly available data in the Americas, Europe and Asia;
• Self-guided questionnaires that guide automated pre-population based on transaction type;
• Compliance reports with build-in, noneditable date and timestamps, benchmark-related appendices and analysis on best methods; and,
• Firm visibility and management tools.

“We recognize that transfer pricing complexity is an increasing pain point for growing businesses, so today’s announcement represents an important addition to the Avalara for Accountants suite for firms of all sizes,” said chief product officer Sanjay Parthasarathy, in a statement. “With Avalara’s new transfer pricing automation tools, firms can drive growth by expanding efficient, scalable transfer pricing documentation services with surety, with or without in-house expertise, while reducing client and firm risk.”