KPMG's transfer pricing team in the Midlands has quadrupled in size since the appointment of a new partner and expects to grow further in the next year.
The now 12-strong team, led by Drew Bailey, is at the heart of helping businesses in the region with the recent focus on international taxation and transfer pricing.
The team, based at KPMG's city centre offices in One Snowhill, Birmingham, works with businesses including UK-based multinationals, not-for-profit organisations and local companies with overseas expansion plans which give rise to UK and cross-border arrangements.
Mr Bailey said the current focus on tax by the G20 and Organisation for Economic Cooperation and Development (OECD) had led to potential fundamental changes to international tax principles and this, combined with increased globalisation and business expansion into new markets, was fuelling the team's growth.
"Our team has grown rapidly over the last year and is now one of the top three advisors in the local market," he said.
Mr Bailey said demand had come off the back of local businesses entering new markets, as well as the potential changes coming out of the OECD's Base Erosion and Profit Shifting (BEPS) report.
"We're ideally placed to support our clients in this important area. The team has a great variety of experience and can provide a range of services including 'health checks', policy design, documentation studies and general assistance with compliance. Our aim is to help our clients ensure they are operating responsible transfer pricing policies."
Mr Bailey said the number of countries with transfer pricing legislation and documentation requirements continued to increase.
He added: "Recent publicity has made groups increasingly aware of their internal policies and procedures, in the context of ensuring compliance with transfer pricing rules in all countries in which they operate, as well as being mindful of their global tax position.
"Businesses are also becoming more aware of the transfer pricing and international tax impacts of their global operations, for example the link to global workforce management, customs duty, VAT and M&A activity, as well as the need for tax transparency in connection with audit and assurance and reporting processes."
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