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Avalara Transfer Pricing Reports for Accountants Automates Transfer Pricing Documentation

By: via Business Wire

Avalara, Inc. (NYSE: AVLR), a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced the availability of Avalara Transfer Pricing Reports for Accountants. This new solution, designed for use by transfer pricing experts and nonexperts working in firms of all sizes, delivers the automation to grow a global tax compliance service, providing U.S. and OECD transfer pricing reports to clients as needed for audit defense.

Transfer Pricing Reports for Accountants automates the transfer pricing documentation process for any firm, supplying control and visibility, while enabling firms with or without in-house transfer pricing expertise to prepare transfer pricing reports for their clients in three simple steps: data collection, documentation review, and report generation.

Firm growth and expanded client services

Avalara’s new technology creates templated reports by combining predetermined, fixed benchmarks with a guided questionnaire, designed to simplify and streamline the workflow process. With Transfer Pricing Reports for Accountants, firms can offer clients a value-added service, improve client satisfaction, and enhance their trusted advisor role by delivering timely compliance reporting to international clients.

“As clients continue to expand globally, and tax reporting becomes more expansive and complex, FGMK sees a robust transfer pricing policy as critical for multinational companies,” said Michael R. Pearson, CPA, Specialty Tax Partner at FGMK. “Our ability to assist clients in complying with contemporaneous, and often required documentation obligations around their inter-company transactions, as well as opportunities to price and scale our transfer pricing practice, has been rewarding. We recognize that automation is essential to providing the control and visibility required for offering efficient, profitable transfer pricing services. Avalara Transfer Pricing Reports for Accountants simplifies and automates the report generation process, mitigates client audit risk, and supports practice growth and expansion.”

Transfer Pricing for Accountants is the latest addition to the Avalara for Accountants product and service suite, which gives firms the technology to simplify, streamline, and scale their compliance practice, and includes sales tax returns preparation, business license management, and a tax research platform.

Key features and functionality:

  • Global compliance. Supporting documentation requirements of U.S. regulations and countries that have adopted OECD guidelines, covering both local file and master file.
  • Predetermined global benchmarks. Built-in data is fixed and objective, based on best practices from publicly available data, covering the Americas, Europe, and Asia.
  • Self-guided questionnaire. Simplify the data collection process through an intuitive, dynamic, self-paced workflow that prepopulates based on transaction types selected.
  • Compliant reports. Includes built-in, noneditable date and time stamps, benchmark-related appendices, and analysis on the best method.
  • Firm visibility and management tools. Access robust management tools with built-in visibility and tracking.

“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 Sanjay Parthasarathy, chief product officer at Avalara. “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.”

Find more information on Avalara Transfer Pricing Reports for Accountants here. Avalara will unveil Transfer Pricing Reports for Accountants at Avalara CRUSH Global. Register to attend here.

About Avalara

Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, ecommerce, and other financial management system providers, Avalara delivers cloud-based compliance solutions for various transaction taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Brazil, Europe, and India. More information at avalara.com.

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