In the last part of the series on transfer pricing, the determination of the arm’s length transfer price is discussed. When performing a comparable search, the use of publicly available databases has become accepted worldwide. The OECD dedicated an entire chapter to comparability analysis in the revised Transfer Pricing Guidelines published in July 2010, describing how a comparable search should be performed and what the typical issues are. However, the rules and standards for such benchmarking studies set up by the local tax authorities often continue to be very different in many respects. Austrian tax auditors follow particularly strict criteria when examining database searches. Using a case study, Roland Macho and Melinda Perneki provide considerations and arguments that could play an important role in performing a benchmarking study to determine the arm’s length intercompany price from an Austrian transfer pricing perspective. In doing so, the views of both tax consultants and tax auditors are presented.