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It is already for the second time in a row that Accreo Taxand has received the prestigious prize of Transfer Pricing Firm of the Year awarded by the international publication International Tax Review. The firm was recognized for its innovation, comprehensive transfer pricing service and its international character.
According to the recent Taxand Global Survey 2011 carried out among chief financial officers of international corporations, transfer pricing is perceived by them as one of the biggest challenge, both in the context of globalisation and considerable, very noticeable tightening of tax authorities' approach to this issue from the local and global perspectives. There tendencies result e.g. from the economic recession and efforts of tax authorities taken to reduce the loss of budget revenue as well as secure interests in profits of international corporations, generated in the areas controlled by these state bodies.
Transfer prices should be seen not only from the perspective of risk management, but also as a powerful tool for planning an effective capital group tax base. It allows the improvement of the effectiveness of business operations and as a result, the improvement of market competitiveness. At the same time, the current economic situation both in Poland and worldwide as well as globalisation directly contribute to the increase in frequency and practical complexity of restructuring processes in business activity of capital groups streamlining so-called supply chains and maximising synergy effects. This, in turn, affects the need to change the settlement model between affiliated entities and increases even more the importance of adapting transfer pricing solutions used so far to the current needs and economic trends" - says Artur Klęsk - Head of Transfer Pricing at Accreo Taxand.
ITR prizes are awarded to companies applying the most innovative and crucial solutions in a particular area. The editorial of International Tax Review evaluated submitted projects e.g. through consultations with tax advisors, lawyers and chief executive officers from various countries.
The announcement and award presentation were held on 18th May 2011 at the European Tax Awards Gala in London. The award on behalf of the company was received by Andrzej Puncewicz, a partner at Accreo Taxand.
