The new tool available to the Tax Administration Service (SAT), the ONESOURCE platform, will be used to facilitate the audit of companies that undertake foreign transactions.
With ONESOURCE, it will be possible to automate the collection of information at a global level, and thus establish and compare transfer prices more accurately, which will help to improve electronic audits.
The tool was adopted after a year and a half of negotiations with the company Thompson Reuters. This same tool is used by homologous SAT authority (IRS for its acronym in English) in the United States and Taiwan.
The adoption of the platform is in line with the advance in tax regulations globally, drived by the Organization for Economic Cooperation and Development (OECD).
The team trained to use this platform consists of 50 people, who work in the Administration Control of Transfer Pricing, which belongs to the General Administration of Large Taxpayers. The usage agreement of the new platform will be granted for the next five years.
From anywhere in the world, the user of the platform can find information of transactions comparable to those of the companies that are audited by the platform. . Similar rates that taxpayers may include at some point. The main objective is to automate the intersection of information related to transfer pricing for analysis. Moreover these practices are seen as a trend in the coming years