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Transfer pricing is becoming an increasingly prominent risk issue for multinational organisations operating in the Middle East.
This is according to Deloitte, which has discussed the subject in light of a new appointment to its transfer pricing team for the region.
It pointed to a combination of the growing number and variety of inter-company transactions with increased regulatory enforcement as factors that have led to transfer pricing becoming a significant risk.
Nauman Ahmed, partner in charge for Tax Advisory services at Deloitte Middle East, stated: "It is impossible to deal with international tax matters today without considering transfer pricing - especially in light of the rate of regulatory change occurring globally."
"The recent Organisation for Economic Cooperation and Development (OECD) initiative on base erosion and profit shifting (BEPS) has further highlighted the importance of transfer pricing," Mr Ahmed added.
He said the OECD's action has caused many nations to begin focusing on the need to reinforce their approach to transfer pricing.
Deloitte has appointed tax expert Adil Rao to lead its transfer pricing advisory services in the Middle East.
The organisation's comments showcase that this is an issue of global significance and the threat of regulatory action is something businesses operating in all corners of the world need to guard themselves against.
India is the greatest example of this, with transfer pricing cases in the nation regularly making the headlines in recent months. Organisations such as Nokia, IBM, Shell and Vodafone either have been or are still involved in disputes with the country's authorities, with the latter two emerging successful from their respective cases.
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