China's trial issuance of a digital yuan has some officials concerned about whether the dollar will remain the world's dominant reserve currency in the long term.
Already complex, transfer pricing policies may need to change this year to reflect realities of the pandemic. Documenting those changes will be key to compliance.
Treasuries should be preparing for the dramatic impact digital fiat currencies may soon have, on both their financial statements and their organizational structure.
Whether or not they've taken drastic steps such as restructuring, U.S. businesses are facing a changing environment that requires them to revisit transfer pricing policies.
Multinational companies with subsidiaries around the world should consider different approaches to the selection of the board of directors/managers, as well as potential pitfalls to overcome with implementing the new slate.