This is a picture of the BMW R32 motorbike, which was the first motorbike to be produced under the BMW brand. You might be surprised to know that it first went into production in 1923, despite not looking out of place decades later. The R32 introduced a number of innovations, including a boxer-twin shaft drive layout which is still in use now. (‘Boxer’ means that the cylinders go in and out at the same time.)
The phrases ‘beautifully engineered’ and ‘a pleasure to use’ are not ones that would spring to mind in relation to the transfer pricing documentation for most groups that I’ve come across. Many of them look more like this. I believe that the transfer pricing profession is still in its infancy.
What’s certain is that if BMW did decide to design transfer pricing documentation, they would use LCN Legal’s intercompany agreements. Unlike BMW’s motorcycles, we can’t quite claim to have been producing intercompany agreements for 96 years, but we do have a consistent focus of working with dozens of TP professionals across four continents so make sure that they meet their TP compliance objectives as well as the needs of other stakeholders (such as VAT / GST, customs, asset protection, directors’ duties and so on). Their feedback has allowed us to refine the design of our agreements over the years, taking on board their comments and feedback.
If you are a transfer pricing adviser and you would like a free trial of our new ‘fast track’ intercompany agreements service, please email us and let us know. We will be very happy to arrange the trial for you.