Gone are the days where transfer pricing was only the realm of more developed economies, such as Europe and North America. Transfer pricing rules are increasingly being seen in the Asia Pacific region, with India, China and Japan widely recognised by taxpayers as offering the most challenging environments in terms of their transfer pricing regimes and practices. Accordingly, it is vital that taxpayers consider the applicability of their global transfer pricing practices to the Asia Pacific region and, where appropriate, customise their strategies to effectively manage their transfer pricing risk exposures in this region. The article examines the changes and challenges in the Asia Pacific transfer pricing landscape.