NACE Code Lookup Tool

A NACE code (Nomenclature of Economic Activities) is the European standard for classifying business activities. NACE codes are essential in transfer pricing for comparable searches (database queries use NACE codes to identify companies in the same industry), regulatory compliance (EU-based subsidiaries report NACE codes for statistical purposes), and benchmarking accuracy (correct NACE classification improves comparable quality). They are widely used in transfer pricing documentation and OECD-aligned benchmarking studies.

NACE codes follow a hierarchical structure: Section (letter, e.g., C = Manufacturing), Division (2 digits, e.g., 26 = Computer, electronic products), Group (3 digits, e.g., 26.2 = Computers and peripheral equipment), and Class (4 digits, e.g., 26.20 = Manufacture of computers). For transfer pricing benchmarking, focus on the 4-digit class level for precision, or the 2-digit division level if you need more comparables.

NACE (Nomenclature of Economic Activities) is the European classification system, while SIC (Standard Industrial Classification) is primarily used in the US and UK. Most transfer pricing databases support both. NACE codes are 4-digit alphanumeric (e.g., C26.20), while SIC codes are 4-digit numeric (e.g., 3571). When using databases like Orbis or Amadeus for European comparables, NACE codes are preferred.

Start with the company's primary business activity. Use our NACE code lookup tool above by entering a description of what the company does. The tool will suggest matching NACE codes ranked by relevance. For benchmarking, focus on the 4-digit class level for precision, or use the 2-digit division level if you need to expand your comparable set.

Incorrect NACE codes lead to irrelevant comparables and weak benchmarking studies. Tax authorities may challenge your study if the NACE codes don't match the tested party's actual activities. Always verify NACE codes against company descriptions and websites during manual screening. OECD Guidelines emphasize that comparables should perform similar functions—NACE codes are the primary filter for functional similarity.

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 studies and global transfer pricing documentation.

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, with NACE Rev. 2.1 coming in 2025. Major revisions occur approximately every 15-20 years. For transfer pricing, ensure your database uses current NACE classifications and document the version used in your benchmarking study.

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 and regulatory filings, we recommend verifying with relevant authorities. For transfer pricing benchmarking, the suggested codes provide an excellent starting point for your database searches.