February 2022 | Transfer Pricing

Lindström Group

Lindström is one of the leading textile service companies in Europe and Asia with more than 170 years of experience in the textile industry. The company offers a comprehensive range of textile services and solutions for workwear, cleaning, interior design, and protecting customer premises, while their subsidiary Comfort also provides textiles for hotels and the healthcare industry. This family-owned company is a successful concept-driven operation that currently operates in 24 European and Asian countries, and which employs 4,770 people. The company’s turnover in 2021 was over 432 million euros.

The breadth of Lindström’s operations across a range of economies in Europe and Asia requires extensive knowledge of international transfer pricing regulations, not to mention the local tax laws in 24 different countries. And as a fast-growing company, Lindström chose Alder & Sound to develop its ongoing tax security and operating environment with the tax authorities in each country.

The collaboration began in 2017, and they now work together on a wide range of income tax and indirect taxation issues, with regard to transfer pricing and all the necessary operational and strategic support that this entails. Juha Nuutinen and Evgenia Laxberg from Lindström’s financial administration say that they work so closely with Alder & Sound’s experts that they feel like their colleagues – an integral part of Lindström’s team.

It feels like we have a colleague who lets us focus on our own core competencies.

‘As head of the treasury department, my job includes various financial related tasks, while Laxberg’s ​​expertise lies in internal auditing and financial management reporting. Neither of us have much expertise in transfer pricing or taxation practices in different countries’, says Nuutinen. ‘This is where Alder & Sound comes in; thanks to them, we can focus more on our own core competencies as they provide their expertise and excellence into our transfer pricing and taxation’.

‘As part of their ongoing service, Alder & Sound provide us with transfer pricing documentation and transfer pricing advice’, Laxberg notes. ‘In addition, Alder & Sound’s experts have also helped us in matters such as mergers and acquisitions, withholding tax, income tax, and implementing new internal financing and transfer-pricing models’.

Alder & Sound’s consultancy bolstered our confidence when making internal reforms to our financial pricing model.

Last year, Lindström renewed its internal financial pricing model. Alder & Sound did reassure that all aspects on transfer pricing was taken into account.

‘We got the opinion of Alder & Sound’s experts about the model we were proposing and discussed the regulatory requirements and guidelines it would involve’, Nuutinen adds. They were able to present the latest and most relevant guidelines from OECD and take them in account. 

Alder & Sound has a deep understanding of how our business model works. We have an excellent and proactive working relationship.

Both Lindström and Alder & Sound praise each other about the positive atmosphere that exists when working together.

‘We have a flexible way of working together and we get answers quickly’ Nuutinen admits. ‘Not only do they have a good understanding of our operative business, which is paramount, but they also know how to apply their own expertise into what we do, and open up any tax and transfer pricing related issues for us in an understandable way. We communicate well without any unnecessary formalities, so our meetings are always relaxed and there is a good atmosphere.

‘Basically, the customer experience is great’, adds Laxberg.

‘Our close collaboration with Lindström has impressed me with how wide-ranging and pleasant it has been’, sums up Henri Becker, the partner responsible for the customer account. ‘We both want our tax security and operating environment with the tax authorities in each country to be proactively kept up-to-date – it’s a key part of corporate responsibility’.

‘Lindström is a fast-growing and responsible corporate entity, where we value know-how and provide the right solutions for customers at the same time as keeping our sights firmly on the horizon’, Becker explains. ‘A&S are similar, so it’s easy for us to identify and say what it is we want, then go ahead and implement it. Our communication is wide-ranging and ongoing. Juha and Evgenia are both solid professionals and amazing people. It’s a pleasure to work with them to improve the world piece by piece.’

This interview was conducted by Aava & Bang in February 2022.
Photo: Lindström Oy, Veikko Kähkönen

Our team specializes in transfer pricing to help our customers grow and internationalize, plan and succeed, manage risks and communicate, and handle mandatory transfer pricing obligations effectively. Together with our global network of partners, we ensure that our customers can focus on their cross-border business without any additional worries, unnecessary risks or undue administrative effort. At the same time, we ensure that there is an appropriate, efficient, and appropriate internal operating model in place.

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