Chiltern, which has poached eight staff from the Moores Rowland tax team this year, announced it had bought a 25% stake in Cross Border Solutions, for an undisclosed sum. CBS’s recently launched Price-Point is an international tax-planning package to help multinationals handle complex transfer-pricing regulations between subsidiaries.
The CBS software analyses worldwide information and produces a report on all company transfers, leaving a complete audit trail. CBS has established a wholly owned subsidiary in London to target the UK and Europe.
From next year, corporation tax self-assessment will require the transfer of goods and services across national borders to be priced as if going to a third party, using the so-called ‘arms length’ rule. Last month, the Inland Revenue announced plans to impose heavy fines on companies which ignore the new regulations.
Andre Bischoff, managing director of Chiltern, said: ‘Transfer pricing has been predominantly the domain of the Big Five with lots of high-cost ticking and bashing work.’
He revealed Chiltern was talking to leading UK tax software vendors, including Taxsoft, about distributing deals.
The software, priced from #10,000 for a single user, will provide an alternative to the Big Five stranglehold on the tax advice market. ‘Companies might require an independent review of their transfer pricing,’ he said.
A Big Five Source responded: ‘Different countries have different interpretations of transfer pricing, therefore software is not the total answer.’
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