Insights

All related party transactions should be conducted at arm's length, ie as if parties were unrelated.

Transfer pricing regulations by the Organisation for Economic Cooperation and Development (OECD) and Singapore have specific provisions to talk about intercompany service transactions. This article delves into what Singapore taxpayers need to know about service transactions under these regulations and highlights typical mistakes businesses may make.

The release of the 7th edition of the Singapore Transfer Pricing Guidelines on 14 June 2024 signifies a substantial advancement in the efforts of the Inland Revenue Authority of Singapore (IRAS) to enhance clarity and rigour in the Singapore transfer pricing (TP) landscape. This edition introduces both minor and major updates across nine sections of the Guidelines, reflecting an evolving and more sophisticated approach to TP analysis and compliance with the arm’s length principle.

Transfer pricing documentation (TPD) is a crucial aspect of tax compliance for businesses in Singapore. With the Inland Revenue Authority of Singapore (IRAS) placing increased emphasis on transfer pricing practices, it is essential for taxpayers to understand the key aspects of TPD requirements.

OECD has released key transfer pricing guidance on Pillar 1 - Amount B report. With the evolving global tax landscape, it is vital for business to understand these initiatives to take appropriate actions to strengthen tax governance and mitigate tax risks.

In this article, we summarise Pillar Two model rules that were released by the Organisation for Economic Co-operation and Development (OECD) on 20 December 2021. This is a continuation of the detailed implementation plan under the two-pillar solution to address the tax challenges arising from the digitalisation of the global economy in October 2021. We discuss how the rules may impact Singapore.

With “working from anywhere” becoming more commonplace, this two-part webinar series breaks down potential corporate and personal tax risks. From permanent establishments to where your employees need to pay tax, find out how you can mitigate the risk or limit their impact.

The OECD/G20 Inclusive Framework announced more details in the implementation of the two-pillar solution to address the tax challenges arising from the digitalisation of the economy. In this article, we explain what's been agreed to as part of the implementation plan and how each pillar may impact Singapore.

New transfer pricing guidelines have been published in Singapore, consolidating earlier guidance. Munjal Almoula of Grant Thornton Singapore looks at the amendments and updates, including a significant change which seems to indicate an increased focus by the Inland Revenue Authority on transfer pricing issues.

On 10 August 2021, the Inland Revenue Authority of Singapore released an update to its transfer pricing e-Tax Guide. In this piece, we highlight significant changes in the updated guide and how it impacts your business.

Find out more about the OECD’s statement on a two-pillar solution to address tax challenges arising from digitalisation of the economy

A handy guide of Singapore Tax facts, to keep you up to date of the tax rates and conditions.

This webinar will help you understand transfer pricing concepts introduced by the IRAS whilst also explaining its impact from corporate tax, personal income tax and GST perspectives.

Munjal Almoula of Grant Thornton Singapore discusses the evolving approach of tax authorities worldwide to transfer pricing policies and audits, and considers the potential implications for the Singapore transfer pricing regime.

The IRAS has recently issued the e-Tax Guide - Transfer Pricing Guidelines Special Topic on Centralised Activities in Multinational Enterprise Groups (MNE). The guide published on 19 March focuses on analysing the importance of the centralised activities in Singapore and providing guidance on how to analyse these activities.

The IRAS recently issued a set of guidelines that enable tax-payers flexibility in defending their transfer pricing arrangements where their business operations / financial positions have been impacted by Covid-19.