Ernst & Young Transfer Pricing Consultant Interview Questions and Answers

Q1. What is your work experience? Educational qualification
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Q1. What is transfer pricing? Which forms are used for filing? Methods in transfer pricing
Ans. 
Transfer pricing is the setting of prices for goods and services sold between related entities within an organization.
• Transfer pricing is used to determine the prices at which goods and services are transferred between related entities within a company.

• Forms such as Form 5471, Form 8865, and Form 8858 are commonly used for filing transfer pricing documentation.

• Common methods in transfer pricing include comparable uncon...read more
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Q2. Methods in transfer pricing
Ans. 
Transfer pricing methods are used to determine the price at which goods and services are transferred between related entities.
• Transfer pricing methods include comparable uncontrolled price, resale price, cost plus, and transactional net margin methods.

• The choice of method depends on the nature of the transaction and the availability of data.

• Each method has its own set of criteria and requirements for application.

• The ar...read more
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Q3. What is form 3CEB
Ans. 
Form 3CEB is a report that must be filed by certain taxpayers in India to provide details of international transactions.
• Form 3CEB is required to be filed by taxpayers who have entered into specified international transactions.

• It must be filed by taxpayers whose total international transactions exceed a specified monetary limit.

• The form requires detailed information about the nature of transactions, parties involved, an...read more
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Basic maths, logical reasoning and English questions.

Business decisions for a small auto parts manufcaturer

Q1. What do you understand by Transfer pricing
Ans. 
Transfer pricing refers to the setting of prices for goods and services sold between related entities within a multinational company.
• Transfer pricing is used to determine the value of transactions between different parts of a multinational company.

• It helps ensure that transactions are conducted at arm's length, meaning they are priced as if the entities were independent.

• Transfer pricing can impact tax liabilities, as t...read more
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Q2. Case study questions
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Q1. Educational background
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Q2. Are you flexible to work with us
Ans. 
Yes, I am flexible and willing to work with the team to achieve our goals.
• I am open to adapting to changing work environments and schedules

• I am willing to collaborate with team members and adjust my approach as needed

• I am open to learning new skills and taking on new responsibilities to support the team
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Q1. What do you mean by transfer pricing
Ans. 
Transfer pricing refers to the setting of prices for goods and services sold between related entities within a multinational company.
• Transfer pricing is used to determine the value of transactions between different parts of a company, often located in different countries.

• It is important for tax purposes to ensure that these transactions are conducted at arm's length, meaning they are priced as if the entities were unre...read more
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Q2. Why do you want to work in transfer pricing team
Ans. 
I am passionate about analyzing complex financial transactions and ensuring compliance with transfer pricing regulations.
• I have a strong background in finance and accounting, making me well-suited for the analytical nature of transfer pricing work.

• I enjoy working with international teams and understanding the intricacies of cross-border transactions.

• I am excited about the opportunity to help companies navigate the comp...read more
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Q1. Basic questions related to TP
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