There is a popular saying that “the only constant thing in life is change”. This means that there is always an evolution going on somewhere and we can choose to acknowledge it or not.
This however has proven to be much truer in the business world. The ways and processes of conducting business in the last decade is dramatically different from the ways in which we conduct business operation in this era.
These change has permeated all fibers of the business end and in this blog post, we’ll be discussing one of the issues that has changed the face of business.
In a bid to maximize profit and minimize cost including taxes, companies and organizations around the world now have strategic planning and thinking processes that allow them to make more money with reduced cost of business.
One of the very cost they try to avoid is tax and one of the best ways in which they perpetuate this legal reduction in their cost is through transfer pricing.