Keep calm and make a thorough assessment of the pertinence of the questions and the extent to which you have to address them in detail. The first, formal Request for Information (RFI) commonly initiates the TP audit process. This RFI typically consists of an extensive questionnaire, albeit increasingly tailored on the basis of submitted transfer pricing documentation and information obtained from other sources (most notably based on (global) exchange of information rules). However, in recent years, TP audits are more frequently initiated by means of tailor-made RFIs, and in some cases, even by an invitation for a pre-audit meeting (or a combination of both).
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