EP 321: Eran Shif and Sean King - Revolutionize Your Tax Planning: The Importance of Substance in Today's Multinational Companies

Eran Shif, head of the Transfer Pricing Division at Avalara, and Sean King, president of Align Global Consulting, were guests on the Tech Talk for Accountants show. Eran started his career in the Israeli tax authority and then moved to EY, where he spent 10 years before joining Avalara. Sean is a lawyer by training and spent many years in the international tax and global structuring practices in Big Four. Eran and Sean discussed the importance of substance in transfer pricing and the need for a holistic approach to cross-border transactions. They emphasized the bilateral nature of transfer pricing and the inherent risk involved. They also discussed the importance of documentation and the need for companies to have a clear understanding of their transfer pricing policies. Eran and Sean also discussed the challenges that companies face when it comes to transfer pricing. They noted that transfer pricing is a complex area of tax law that requires a deep understanding of the business and the industry in which it operates. They also noted that transfer pricing is an area of tax law that is constantly evolving, and companies need to stay up-to-date with the latest developments.