This past year had been tough for the world economy. And while there are signs of a recovery, troubles may still lie ahead. Several major territories, for instance, are now adopting new, or revised, transfer pricing requirements, and there is a discernible increase in disputes globally. Documenting — and sustaining — transfer pricing in this economic setting can also create difficult issues for tax departments. The continuously uncertain tax positions generated by the transfer pricing process means that multinational companies must now satisfy the ever-increasing demands of tax authorities and stakeholders. The present economic situation has only intensified this situation.
The articles in this edition remind us that a longer-term view is vital to both short-term results and long-term benefits. Perspectives: Thriving through challenging times offers strategies on how to meet today's increased transfer pricing challenges; we hope that the articles in this edition provide greater insights into how you can better manage the risks and opportunities that might emerge in today's uncertain business circumstances.