Are you searching jobs in local governments of Connecticut – city, county or state level government? The following Connecticut government websites officially publish most recent job listings, including jobs in accounting, finance, law enforcement, public affairs, city management and public administration. Just click on abbreviationfinder to get most basic information about the state of Connecticut, including state demographics and a list of major cities.
- Acronymmonster: Nickname of Connecticut as The Constitution State. Also includes major cities and resorts, as well as how to get around this state.
What is a Transfer Pricing Manager?
Translated, transfer pricing means »transfer pricing«, and accordingly transfer pricing managers deal with the transfer prices of a group. These must always be determined if a group has at least two companies in different countries. Here it is important to define which group company makes which contribution to the value chain and how these services are to be “charged” between the individual companies. In addition to raw materials, goods and services, this also applies to more and more intangible assets.
Especially due to the digital transformation of the value chain, it is becoming more and more complex to determine the respective contributions of the individual group companies to the value chain. So transfer pricing managers need to find answers to questions like:
- What is the value of the product when it “moves” from the manufacturing company to the distribution company?
- Is the transfer of data between group companies to be remunerated, and if so, how?
- Which group company owns which know-how or intangible asset?
- What is the value of a brand?
- What share of the added value does an app have?
The fact that digital business models will play an increasing role in the future is also shown by the fact that this was discussed for the first time at the G7 summit in Biarritz in 2019. The more transactions there are between the individual companies (intercompany transactions), the more worthwhile it is to hire a specialist who deals exclusively with the subject of transfer pricing. In smaller companies, these tasks are usually carried out by controlling.
Specialists with great responsibility
The main task of the transfer pricing manager is to ensure compliance with tax laws and avoid double taxation. Double taxation occurs when the transfer price is not accepted by the tax authority of one of the transaction partners. These can only be corrected with a lot of effort, if at all, and cost companies a lot of money. For this reason, transfer pricing managers bear a great deal of responsibility. Depending on the size of the company and professional experience, you will report to the head of the tax department or directly to the company management.
Transfer pricing managers work either for corporations/commercial companies or for tax consultants. If they are employed by a company, they are usually responsible for the entire process, from setting guidelines for transfer pricing and quality control, to communication and documentation, to defending against the tax authorities. If you work for a tax consultant, you will be called in specifically if the company wants to set up a transfer pricing system or if it has to defend its transfer prices against the tax authorities as part of a tax audit. On the one hand, it can be advantageous if someone from outside takes on this task, but above all it has economic reasons — especially for smaller companies.
Transfer pricing managers and digitization
As in many areas, digitization has changed the job profile of transfer pricing managers significantly. On the one hand, the technical possibilities have simplified many work steps – for example international communication between individual companies or calculations and calculations. On the other hand, this has also increased the requirements on the part of the tax authorities. This is because these require ever more precise and detailed documentation on the derivation of transfer prices. If this does not exist or if it is incomplete from the point of view of the tax authorities, the company is threatened with double taxation.
As a result of digitization, the main focus of the transfer pricing manager’s work has shifted: While the specification of guidelines for determining transfer prices and their calculation used to dominate their job profile, documentation and defense are playing an increasingly important role today and will continue to do so in the future. This development is also reinforced by the fact that the tax authorities are also becoming increasingly digitized and, in recent years, have carried out tax audits more critically and with an increasing focus on transfer pricing.
Automation is also an important topic in the area of transfer pricing. Because software solutions can simplify many work steps here – especially in the calculation and documentation of transfer prices – or in the future take them over entirely. A few large corporations have started to convert their system landscape and processes here, but most still fall back on proven methods or specifically commission external consultants who offer solutions in this area. Overall, the automation process is still in its infancy in most German companies.
The most important things in 5 seconds
- Education: Degree in economics or law or a comparable subject
- Starting salary: €60,000
- Top salary: €120,000
- Opportunities for advancement: Team leader Transfer Pricing, Head of Transfer Pricing
What does a transfer pricing manager do?
- Development of tax strategies, guidelines and company-specific design of tax processes in relation to transfer pricing
- Planning, implementation, documentation of transfer pricing systems
- Preparation of tax reports on transfer prices
- Defense of transfer pricing in tax field audits and support in international arbitration and settlement procedures
- Carrying out business, tax and economic analyzes for cross-border issues (e.g. market analyzes or valuations)
- Identifying optimization potential and advising multinational companies on redesigning their value chain and other restructuring
- if necessary, participation in national and international working groups/committees on transfer pricing
How to become a transfer pricing manager
Transfer Pricing Managers already have several years of professional experience in this area, career starters in this area start with the addition »Junior«. Transfer pricing managers need to be familiar with transfer pricing, including the international Arms Length Principle (ALP) guidelines. In addition, they should have the following skills:
- Completed degree in economics or law or a comparable subject
- At least 2-3 years of professional experience in the areas of transfer pricing, controlling, or international taxes
- possibly tax consultant exam
- Expertise in national and international tax law
- Mastery of common MS Office programs
- possibly SAP knowledge
- Business fluent English skills
What does a Transfer Pricing Manager earn?
up to €120,000
Transfer pricing managers earn between € 60,000 and €120,000 gross per year. Above all, professional experience and the specific requirements of the area of responsibility are decisive for the individual salary level: the more subsidiaries and different countries – and thus different tax laws – the transfer pricing manager has to take into account, the more complex and demanding their area of responsibility is – and the higher their payment. Of course, any personnel management, size and industry of the respective company as well as regional characteristics lead to salary differences.
What do you expect from the transfer pricing manager?
Transfer Pricing Managers are very communicative and team players. Because they have to filter the complex requirements of tax law, prepare the relevant aspects for colleagues from different company departments and hierarchies in a way that they can understand them, convince them and implement them together with them, and defend the transfer prices in external tax audits.
At the same time, they have very good analytical thinking skills. This is the only way you can penetrate the complex tax laws and internalize their countless regulations. In addition, today’s transfer pricing managers also need basic IT knowledge, since the preparation and documentation of data is becoming increasingly important.
In order to be able to do their work successfully, they also need a very good understanding of processes and operational procedures. They need to understand how the company works, who has which role and what the value chain looks like. Transfer pricing managers are highly self-motivated and have a hands-on mentality. You work result-oriented and independently and are particularly interested in observing global developments and connections and incorporating them into your work.
Opportunities for advancement as Transfer Pricing Manager
Transfer pricing managers can develop into team leaders or head of transfer pricing, although there are not too many of these management positions in German companies.
Qualified transfer pricing managers are in high demand on the market. Because on the one hand there are not many suitable applicants and on the other hand the avoidance of double taxation and thus the defense of transfer prices against the tax authorities is becoming increasingly important for companies. It can be assumed that this development will continue in the coming years and that transfer pricing experts will continue to be in increasing demand.
Due to their area of activity, transfer pricing managers gain very good insights into the company. Because they have to understand the business model and the roles in order to be able to do their job well. For this reason, they can easily switch to other areas of the company, such as finance or controlling, or take on other tasks in the area of taxes.
Bristol – Personnel Department
Search for job openings with the town of Bristol, Connecticut. Learn about benefits and the application process.
Hartford – Personnel Department
This Connecticut city provides a list of job openings within its government departments. Use the search tool for more specific queries.
New Haven – Employment
Look up available jobs with the government of this Connecticut city. Describes requirements and salary ranges.
Stamford – Employment
Human resources division of this Connecticut city lists it current job openings and related requirements.
Waterbury – Employment
Resource hopes to recruit civil servants for its municipal offices and workplaces. Consider the job descriptions.