KPMG LLP is hoping that artificial intelligence is going to make the hugely complex process of transfer pricing a little easier for companies.
The firm was recently awarded a patent for a system using AI to help identify comparable companies—a key part of transfer pricing, which involves pricing transactions within a company on the same kinds of terms they would get when dealing with an outside third party. The use of AI to sort through all the data needed to find comparables is meant to help save time, money, and resources, and to provide greater certainty.
KPMG has been developing …
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