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Transfer Pricing Risk Management

Meenakshi Iyer Manager Transfer Pricing and Suzanne Mikhail Assistant Manager Risk Management Services at Grant Thornton UK LLP discuss the importance of TP risk management to multinational corporations
Risk management in all areas of business is important for improved corporate governance. Tax risk management in particular is moving steadily up the agenda of most boardrooms. Transfer pricing is central to the management of tax risk and is a top priority for tax directors of multinational corporations (MNCs) around the world. The recent settlement by GlaxoSmithKline (GSK) in excess of $3 billion with the US Internal Revenue Service on a transfer pricing dispute highlights the impact that transfer pricing can have on the financial statements and reputation of a MNC.
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