A year into the Trump administration’s global tariff campaign, many companies are still struggling to coordinate their trade functions with their tax and transfer pricing teams, risking messy audits in the years to come.
Failing to coordinate can risk examination by tax or customs agencies, tax practitioners warned. While many industries have been handling these issues for decades, the Trump swath of tariffs has caught up nearly every sector, including many with little to no experience navigating these waters.
Transfer pricing, which governs how businesses price intercompany transactions, is deeply intertwined with tariffs, as the prices have a huge impact …