Thursday, 24th April 2008
Tax consultants and companies’ in-house tax departments don’t often have new information products developed on their behalf. BvD http://www.bvdep.com has redressed the balance with its introduction of TP Catalyst – a product for the transfer pricing specialists. According to BvD the service will save users’ time “by streamlining the generation of profit-based analyses for arm’s length benchmarking reports”. TP Catalyst can be used in conjunction with BvD’s Amadeus and Orbis databases, which provide European and global company information that can be interrogated and manipulated by the inbuilt software programs.
The product comes with its own ‘wizard’ that takes users through an eight-step process as follows:
1. Determine the parameters of your analysis
2. Select the party to be tested
3. Define your objectives
4. Choose and justify your method
5. Select the population for your comparison
6. Reject companies and show your reasons
7. Select your Profit Level Indication
8. Tested party against the comparables
Analyses can be carried out on three methodologies: comparable profits, transactional net margin, or, profit split. Usefully the system provides a detailed audit trail of the steps taken. BvD has given examples of where TP Catalyst might be used including, establishing inter-company pricing for transactions to take place in future years or determining the size of potential tax adjustments.
Luis Carrillo is BvD’s transfer pricing specialist. He describes the product as follows: “It eliminates redundant steps, simplifies the selection process of comparables and reduces data manipulation. It delivers professional results with a detailed audit trail and rationale. TP Catalyst reports can be used to supplement the overall TP documentation package or for due-diligence documentation. Our initial feedback is very positive – TP Catalyst has met a very enthusiastic reception.”
A full description of the service is at: http://www.bvdep.com/en/TP%20Catalyst.html. As with all BvD products a brochure describing the service can be downloaded from the web site. The same web page has a link for a free trial of the new service.
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