Business guide to transfer pricing rules

The release of the new BIR Revenue Audit Memorandum Order 1-2019 effective Aug. 20, alerts the taxpayers on how it would apply the new transfer pricing regulation on the audit of companies, conglomerates, and importers with related-party transactions.

To help businesses to be audit ready, the Center for Global Best Practices is hosting a two-day training titled, Business Guide to Preparing and Handling Transfer Pricing Audits on Dec. 9 and 10 at the EDSA Shangri-La Hotel, Mandaluyong City.

The training will guide attendees on TP documentation that is compliant to the BIR’s standards. Attendees will also gain knowledge on the current landscape of Transfer Pricing – the trends and developments to watch for to avoid potential tax risk and penalties. It will also showcase practices of successful companies in TP audit.

Learn from tax expert practitioner, Charadine S. Bandon. She has over 12 years of experience as a tax attorney in BIR – where she held several important positions including chief of the International Tax Affairs Division (ITAD) from 2012-2016. She was lead technical expert in the negotiation of Philippine double tax agreements with Germany, Mexico, and US, and the implementation of international tax standards in exchange of information (EOI).

Check www.cgbp.org for details and a complete list of best practices programs such as Best Practices Guide on How to Import Goods to the Philippines, NEW INCOTERMS 2020, Practical Taxation and Tax Compliance for Businesses, BIR CAS Compliance and many more! You may also call landlines in Manila (+63 2) 8842-7148/59 or (+63 2) 8556-8968/69 and Cebu (+63 32) 512-3106 or 07.

The training will also feature Lisa A. Cea, who is the principal and head of the Transfer Pricing Specialist Team of Ortiz & Bandon Law Firm. She worked in the Legal Service of the BIR for 18 years – 12 years of which were spent in the International Tax Affairs Division (ITAD) where she became the main focal for transfer pricing issues.

Registration is open to the general public and is highly recommended for businesses, conglomerates, importers, logistics, forwarding companies with related-party transactions, auditors CPAs and lawyers. CGBP is an accredited training provider of the Civil Service Commission.

Attendees from the government can earn points for their career advancement and are exempted from the P2,000-limit set by COA when attending training conducted by the private sector based on DBM circular 563 dated April 22, 2016. Interested participants are encouraged to avail of the early payment savings and group discount for three or more attendees. Seats are limited and pre-registration is required.