Transfer Pricing as a career ?- Top 10 things that transfer pricing offers you:

Transfer pricing is often considered a complicated topic to deal with. What you may not know is that as complicated it sounds, it is that part of taxes that talks and relates to business situations and economics. If you are considering making your career in taxes you may want to look out for transfer pricing as an effective career option that may bring value to your professional self. Here are 10 top elements that Transfer Pricing as a field may offer you.

1. Offers global view - Transfer pricing is a part of international taxation, which deals with the interplay between various tax jurisdictions. It gives a global perspective to the professional on various tax laws.
2. World-wide principles - Transfer pricing is one of the few tax concepts that are recognised and consistent globally. So if you are doing transfer pricing in India, you can undertake transfer pricing in the UK. This means the career is transferrable between the tax jurisdictions, which gives a wider scope to treat the world as your career platform.?
3. Increasing importance - The business these days revolves around the concept of arm’s length price and fair market value. Even for domestic dealings, many corporations want the transactions to follow this principle to prove the non-existence of any internal influence
4. Analytical with legal backing - The job in transfer pricing is analytical (similar to a financial job) as well as have the law side to it (due to the tax regulations). So any professional who wants to be close to finance, as well as legal books, would love this field of specialisation
5. Expertise - Transfer Pricing is the area of specialisation and therefore a transfer pricing professional would always a tag of a specialist in this field.?
6. Business knowledge - Transfer pricing needs a detailed understanding of business, supply chains as well as value chains to advise clients. From an information perspective, this gives a greater hold on the industry and increased level of knowledge in general.
7. Advice oriented - Unlike other fields, transfer pricing assignments are problem-oriented, most importantly the unique ones. You will never face complacency or stagnation in this field. Learn new things every day and advice on new angles every time. Hardly includes any copy paste advice.?
8. A litigation flavour - You can very well be recognised as a Harvey Specter of your field if you can resolve client transfer pricing disputed practively via advance pricing agreements or through court proceedings.?
9. Staying alive - The field of transfer pricing is a field of transformation. It is constantly evolving, with newer interpretations and regulations. So you need to keep your mental operating software updated at all times. ?
10. Progressive - Get exposure to all the faces of transfer pricing. Start with smaller compliance, documentation, benchmarking, research, representation etc. Do not get overwhelmed with the depth of the subject and give yourself time to digest all the verticles in the transfer pricing arena. Even the best professional is a student of this mammoth subject.?

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