Transfer pricing translations
Transfer pricing refers to the policies applied during purchases of goods and services undertaken between member firms of a single corporate group. The process of regulating intra-group dealings under a single parent company, often geographically located in a different country, requires translation of the master files and country files relating to the group, the individual companies and the relevant cross-border transactions, in addition to translation of extensive associated documentation into various languages.
Way2Global has unparalleled experience of translating this type of documentation, which became a legal requirement following an announcement by the director of the Italian Revenue Agency on 29 September 2010. Similar requirements regarding profit-shifting and the arm’s-length principle have also been introduced by authorities in other countries.
The OECD has provided guidelines that, in addition to detailing a list of the various applicable criteria for verifying compliance with the arm’s length principle, divided up into general categories of traditional and alternative methods, are also a useful terminological reference for translators.
Translating financial documents involving transfer pricing requires the use of highly specific terminology. Sources to be consulted include, among others, Commission Regulation (EC) No. 1725/2003 and the EU Joint Transfer Pricing Forum (JTPF), which was established by the European Union for the express purpose of offering assistance and information on transfer-pricing policies.
The use of fully standardized terminology by teams of native-speaker translators and editors specializing in the financial sector, backed up by tax consultants and localization experts, is at the heart of our approach and is essential in ensuring the quality of our service.
Where requested, we can also have our translations sworn, legalized and stamped by the consulate.
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