Southeast Asian law and tax law firm DFDL has acquired transfer pricing consultancy IC Advisors as it continues expanding its regional offering.

The acquisition of IC Advisors comes some months after DFDL broadened its presence in the ASEAN region to Indonesia and Malaysia. Established in 1994, the firm also has offices or associations in Singapore, Bangladesh, Cambodia, Laos, Myanmar, the Philippines, Thailand and Vietnam.

Headquartered in Singapore, IC Advisors focuses exclusively on providing solutions for transfer pricing, an accounting method to represent the price one division in an organisation charges another division for goods and services. It is led by Sowmya Varadharajan, an expert on U.S. international tax laws.

"By combining the strengths of DFDL and IC Advisors, we will be able to offer a full range of transfer pricing services, covering planning, implementation, compliance, and dispute resolution," said DFDL partner and head of its regional tax practice, Jack Sheehan, in a statement. "We will also leverage our local knowledge and industry-specific insights to deliver tailored and innovative solutions that meet our clients' needs and expectations."