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.
Even as restrictions are gradually eased, there continues to be considerable uncertainty over the risks, circumstances and comparables used to determine arm’s length transfer prices.
The APA is an extremely progressive mechanism available to taxpayers to get certainty on their transfer pricing arrangements over a long-term period. The process and approach taken in Singapore are consistent with international standards, making it easy to implement and conclude with countries with whom Singapore has a DTA.
Transfer pricing during economic slowdown
Grant Thornton and LCN Legal presented a joint webinar to help you understand the transfer pricing environment in three key countries in Asia.
Following the success of our previous Back to Basics seminars, we are bringing the programme back to help you navigate your way through tax. Our speakers will discuss a different range of topics to help you to understand the fundamentals and the effects that each could have on your business.
To help clients navigate your way through tax, here are common issues to take note of for GST
To help clients navigate your way through tax, here are common issues to take note of for transfer pricing!
International taxation is undergoing the biggest shake-up for a generation. The already complex world of transfer pricing is at the front and centre of these disruptive changes, both in the rules that govern it and in the heightened scrutiny it now faces.
Nobody thought that complying with the Base Erosion and Profit Shifting (BEPS) transfer pricing analysis and documentation demands would be easy.
The Inland Revenue Authority of Singapore (“IRAS”) released its 5th edition Transfer Pricing Guidelines (“TPG”) on 23 February 2018. The revised TPG provides guidance on the implementation of the transfer pricing (“TP”) related amendments made to the Income Tax Act (“ITA”) on 26 October 2017.
A flurry of sign-ups in the first half of 2016 took the number of countries agreeing to introduce the minimum BEPS standards1, including country-by-country (CbC) reporting, beyond 80.