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Following the international experience and recommendations of the Organization for economic cooperation and development (OECD), the Russian tax legislation since 01.01.2012 requires taxpayers to notify tax authorities about controlled transactions and provide reports on transfer pricing methods used in transactions with related parties confirming that the transaction was carried out at market prices.
The method of comparable profitability used in all software products by Bureau van Dijk (BVD) for over 15 years, and in transfer pricing module of Ruslana database since 2011, will help Russian taxpayers to confirm the commercial purpose of the transaction in tax authorities. The method takes into account the requirements of the Tax code and the Law № 227-FZ «On amending specific items of the legislation of the Russian Federation in connection with improving the principles of determining prices for tax purposes».
In foreign countries, transfer pricing is controlled by arm's length principle. According to this principle, the market price is the price established by comparing the prices of independent companies but comparable in terms of doing business.
For more than 15 years software products by Bureau van Dijk (BVD) are successfully used by specialists in transfer pricing and by tax authorities for verification the adequacy of transfer pricing and preparation of reports. Special software services on transfer pricing do these tasks easily achievable only in 8 steps. The image below shows the selection result by specified criteria.
Ruslana, Orbis, Amadeus databases help to identify:
The transfer pricing service using in Ruslana, Orbis, Amadeus, Oriana databases is a valuable tool for taxpayers. It allows creating the comparative reports in terms of profitability of compared companies.
Bureau van Dijk systems are used by tax authorities of almost all European, North American and Asian countries for auditing the fulfillment of legislation requirements. Since 2011, the Federal Tax Service of the Russian Federation has joined the system.