Transfer pricing services refer to the assistance and expertise provided by professional firms to help multinational companies determine and comply with the appropriate transfer prices for transactions between their related entities. Transfer pricing refers to the prices at which goods, services, or intangible assets are exchanged between different entities within the same multinational group. These transactions can include sales of goods, services, royalties, management fees, and other intercompany arrangements. The main objective of transfer pricing is to ensure that these transactions are conducted at arm's length, meaning the prices charged are similar to what unrelated parties would charge in a comparable transaction. This is important for tax purposes, as tax authorities aim to prevent multinational companies from artificially shifting profits to lower-tax jurisdictions, thus reducing their overall tax liabilities.