The #TPS WAY of Doing Business – What can we learn from COVID 19 crisis?

COVID 19 crisis provoked an unprecedented shift toward working from home (#WFH), and business is implementing tools and resources to allow the employees to work from home and look after their customers as seamless as possible.

Since our firm started operations, we have been pioneers on implementing technologies that allow our team to work in any part of the world as a global team honouring our values of offering practical, proactive and cost-effective transfer pricing services. As our business grew, it became clear that technology would allow us to reach to top transfer pricing talent (a rare breed as many quit their transfer pricing career) wherever they are located and reach our clients globally.

Little we know that our value proposition that has benefited our clients and employees immensely was going to be critical to surviving during the COVID 19 crisis. If someone has told us even in January 2020 that the whole world was going to shut doing, we wouldn't have believed a word, and here we all are in different degrees of lockdown and social distance around the world to make sure that we keep our families and ourselves in good health.

We have been advocates of working from home/remotely and being flexible to retain the best transfer pricing experts and also to offer an agile and easy experience to our clients. Our journey has been a continuous balance between offering our employees work-life balance and offering our clients the best personalise services in an efficient, easy and effective way the #TPSWAY for us to offer transfer pricing consulting and advisory services without a price tag.

We all know that in the traditional consulting model less efficient equal to more hours the consultant can charge, our proposition has been efficiency to lower the price tag.

We are positive, and our wish is that after this crisis, all employers, employees and customer accept that flexibility and remote interaction can still offer a seamless experience. It is possible to challenge the traditional way of doing business and agree that in today's world there is sufficient technology for everyone to be able to work from home without compromising the customer experience, quality and deliverables.

Our firm is a real case study of the above, we know how to work from home and a traditional office, we know how to offer the best client experience both face to face, and remotely, we know how to host a productive meeting both remotely and face to face. We are flexible and accommodating, and thanks to technology and our business model, we can offer premium transfer pricing services without a price tag.

Apart from technical expertise, agility, flexibility and adaptability can be critical in today's world and Unicorn teams like our team will have a competitive advantage as we will adapt and help our clients in the process.

During our journey, we have accomplished many recognitions and leadership roles that also endorsed our success story such as:

 
Members of the Global Transfer Pricing Alliance

https://altustpnetwork.com/

Leadership

  1. 2016, 2017, 2018 and 2019 Shannon Smit appointed to the Australian Government's Board of Taxation Advisory Panel
  2. Shannon Smit is a Lecturer at University of Melbourne Law School, Master of International Taxation
  3. Adriana Calderon is a Lecturer in Singapore at the transfer pricing trainer by the Institute of Singapore Chartered Accountants, Singapore Institute Accredited Tax Professionals and Singapore Institute of Technology.

 Awards:

  • 2019 Finalist – International Tax Awards "Transfer Pricing Team – Singapore"
  • 2019 Finalist – International Tax Awards "Transfer Pricing Team – Australia"
  • 2019 Winner – International Tax Awards "Asia Best Newcomer Firm of the Year – TPS Malaysia"
  • 2018 Finalist – International Tax Awards "Transfer Pricing Team – Singapore"
  • 2018 Finalist – International Tax Awards "Transfer Pricing Team – Australia"
  • 2017 Winner – International Tax Awards "Asia Transfer Pricing Practice Leader of the Year - Shannon Smit"
  • 2017 Winner – International Tax Awards "Asia Best Newcomer Firm of the Year – TPS Asia"
  • 2015 Winner - Thomson Reuters Tax and Accounting Excellence Awards, 'Transfer Pricing Team of the year'
  • 2014 Winner – Australian Accounting Awards Boutique Firm of the Year
  • 2014 Appointment to the Australian Government's Board of Taxation Expert Panel2014 Finalist – Thomson Reuters Tax and Accounting Excellence Awards, 'Transfer Pricing Team of the year'
  • 2013 Winner – Thomson Reuters Tax and Accounting Excellence Awards, 'Transfer Pricing Team of the year'

 Feel free to reach out for a virtual coffee or catch up if you want to know more about our transfer pricing services or to hear more about our TPS WAY success story.

Contributed by our Director Adriana Calderon

Adriana is the co-founder of Transfer Pricing Solutions Asia and Transfer Pricing Solutions Malaysia and Lead Partner in Asia. Adriana has extensive international experience with Big Four and mid-tier firms advising multinational companies in the areas of corporate and international taxation across South America, the US, Australia and the Asia Pacific Region. As a TP practitioner, Adriana has advised companies in the Asia Pacific Region across various industries and in a wide range of projects associated with planning,

Adriana also enjoys teaching and is a regular speaker and facilitator of Transfer Pricing seminars and workshops in Singapore. She is a transfer pricing trainer for the Institute of Singapore Chartered Accountants and Singapore Institute of Accredited Tax Professionals.

Adriana lives in Singapore with her family and is a mom of two energetic boys.

QUESTIONS 

Australia  |  +61 (3) 59117001  |   reception@transferpricingsolutions.com.au

Singapore  |  +65 31585806  |   services@transferpricingsolutions.asia

Malaysia  |  +603 2298 7153  |   services@transferpricingsolutions.my

Other Recent Posts




Transfer Pricing for Commodity Trading Entities

Do you want to know about transfer pricing for commodity traders? This article will give you an overview about transfer pricing for commodity trading companies with operations in Singapore


What can companies do to manage their Transfer Pricing Risks in time of crisis?

In light of the recent outbreak of Covid-19, which is now known as a global pandemic threat, has jeopardized businesses significantly across the globe. Businesses of various industries are expected to lose billions of revenues.   


Digital Economy and Transfer Pricing

In a digitalised era, businesses can develop an active and sustained engagement in a market jurisdiction, beyond the mere conclusion of sales, without necessarily investing in local infrastructure and operations. Hence, the allocation of taxing rights can no longer be exclusively circumscribed by reference to physical presence.