On January 21, 2026, the consultancies Ebury and Auxadi, specialists in international operations, held the webinar ‘Transfer Pricing and exchange rates: how to manage flows between subsidiaries and parent company’. 

During the 45-minute session, which drew an audience of 88 attendees, Claire Sanga (Global VP of Transfer Pricing Services for TPS by Auxadi) and Luis Merino (CEO of Ebury Spain) analyzed the international management of assets between companies. The meeting was moderated by Ignacio Suárez, Partner and Client Portfolio Manager for Ebury. 

Main Issues in international management 

“Post-tax losses are an issue that can often stem from changes in the Forex [market]”, Claire Sanga began. The director of Ebury Spain continued by emphasizing that companies “tend to make investments in dollars”. However, “the dollar also fluctuates against these local currencies. Therefore, there tends to be another loss at the end of the fiscal year”. 

Additionally, Luis Merino added that “not all currencies can be hedged”. The Ebury representative highlighted another operational obstacle: when “the client has the infrastructure but lacks local personnel to handle those collections and payments”. 

Practical advice 

Claire Sanga pointed out that the annual planning of transfer policies must evolve toward a “functional profile”, highlighting its strategic relevance in anticipating potential inspections. In this regard, the head of TPS by Auxadi underlined its key role in “planning, policy design, and documentation”, as well as facilitating “implementation or new [transfer pricing] policies”. 

Luis Merino followed with a series of tips for managing exchange rates. First, he recommended “not being afraid to work with the local currency” because “many collections and payments will be in local currency”. To facilitate maintenance, it is advisable to have “each currency in an account denominated in that currency”. He then focused on how a “Spanish CFO” can centralize the onboarding of subsidiaries in different countries, such as Mexico, Chile, and Colombia. 

To guarantee rigorous administration, Sanga emphasized the need for “the functional profile to be aligned with the group’s transfer pricing policy and for there to be a regular review, usually near the end of the fiscal year”. Regarding exchange rate risk, Ebury Spain recommends having “a counterparty to cover risk through forward contracts”. However, the entity noted that it is not always imperative to hedge “one hundred percent” of movements, but rather to structure them “long-term”: between 6 and 18 months. 

Mitigating operational losses 

The re-release of this webinar, ‘Transfer Pricing and exchange rates: how to manage flows between subsidiaries and parent company’, responds to the goal of facilitating access for CFOs and Fund Managers in strategic markets such as the United States and Latin America. This initiative is supported by the solid international expertise of the speakers, who have an extensive track record managing assets for large global corporations. 

TPS by Auxadi is the expert transfer pricing subsidiary of Auxadi. It operates in more than 50 countries, supporting clients in the preparation and updating of transfer pricing policies to correctly comply with national and international regulations. 

At Auxadi, we offer comprehensive services in accounting, tax, payroll, transfer pricing and corporate legal services to multinationals and funds. With experience since 1979 and a presence in over 50 countries, including 26 proprietary subsidiaries, our advanced technological platform and proven methodology enable us to guarantee efficient management in compliance with local regulations. 

Author:

Auxadi Corporate