Transfer pricing is now a fundamental pillar for businesses, not only from a tax perspective: PwC survey

Transfer pricing is now a fundamental pillar for businesses, not only from a tax perspective: PwC survey

The TP landscape has changed and evolved significantly in the last 12 months. The combination of extensive new compliance requirements, a refresh of business models (also necessitated by COVID-19) and disputes with tax authorities on TP (‘TP controversies') means that today TP in the Middle East is no longer a tax related afterthought, but instead, it has become a fundamental pillar of tax and business strategy for most groups. In the last year, we have seen key developments in the region, mainly in the Kingdom of Saudi Arabia, the United Arab Emirates, Jordan, Bahrain and Oman. To assess these changes and their impact on businesses, PwC has conducted a survey of over 120 finance and tax professionals globally who deal with a taxable presence for their businesses in