Given the fact that more than 60 % of world trade takes place within multinational enterprises, the importance of transfer pricing becomes clear. The audit of transfer pricing arrangements has increasingly become a routine part of tax audits of multinational groups. In this series of articles we are going to discuss “experiences from the ground”, issues that have come up in the course of the daily audit practice. Providing a standard solution for each transfer pricing problem would not be possible due to the fact that transfer pricing is so heavily dependent on the actual facts and circumstances of each particular case; therefore, this is not the aim of this series of articles. What we are trying to do, however, is to provide ideas of the factors and considerations that could play a part in determining and defending the transfer pricing arrangements using a case study of the various transfer pricing problems discussed. In doing so, the views of both the tax consultants and the tax authority will be presented.