Transfer pricing (TP) is the setting of transfer prices for transactions relating to sales and purchases of goods, services, intangibles and financing provided between associated persons within a Group. From requirements of the tax regulations and guidelines issued by the tax authorities, which are in line with the OECD’s initiatives for transactions between associated persons to be carried out on an arm’s length basis, to the need for businesses to maintain proper documentation including an explanation of the value creation story of a business