NACE Code Finder Tool
Find the appropriate NACE (Statistical Classification of Economic Activities) codes for your business activities. Our AI-powered tool analyzes your description and suggests the most relevant industry classification codes for transfer pricing analysis, regulatory compliance, and benchmarking studies.
AI NACE Codes Selector
Enter a description of your tested party and get relevant NACE codes instantly
About NACE Codes
NACE codes are the European standard for classifying economic activities. They are essential for statistical analysis, benchmarking studies, and transfer pricing documentation. Using the correct NACE codes ensures accurate industry comparisons and regulatory compliance across EU member states and internationally.
Why NACE Codes Matter
For multinational enterprises and transfer pricing professionals, NACE codes play a crucial role in identifying comparable companies for benchmarking studies. They help ensure that economic analyses compare businesses in truly similar industries, leading to more defensible arm's length ranges and better compliance with OECD guidelines.
Frequently Asked Questions
Common questions about this tool and how to use it
What are NACE codes?
NACE codes (Nomenclature of Economic Activities) are the European standard for classifying business activities. They provide a framework for categorizing companies according to their economic activities and are widely used in statistical reporting, economic analysis, and transfer pricing.
How accurate is this NACE code selector?
Our AI-powered tool provides accurate suggestions based on the descriptive text you enter. The tool uses advanced natural language processing to match your business description with the appropriate NACE codes. For official classifications, we recommend verifying with relevant authorities.
Why do I need NACE codes for transfer pricing?
NACE codes help identify comparable companies for transfer pricing benchmarking studies. They ensure that your economic analysis compares your tested party with businesses in truly similar industries, making your transfer pricing documentation more defensible and compliant with the arm's length principle.
How are NACE codes structured?
NACE codes follow a hierarchical structure with sections (letters A-U), divisions (two digits), groups (three digits), and classes (four digits), becoming more specific at each level. For example, M70.22 represents 'Business and other management consultancy activities' within the professional services section.
Can I use NACE codes outside the EU?
Yes, while NACE is a European classification system, it is compatible with the UN's ISIC (International Standard Industrial Classification). Many countries outside the EU either use NACE directly or have comparable systems that can be mapped to NACE codes, making them useful for international benchmarking.
How often are NACE codes updated?
NACE codes are periodically revised to reflect changes in economic activities and industries. The current version, NACE Rev. 2, has been in use since 2008. Major revisions occur approximately every 15-20 years, with minor updates in between.