Tax facts: Transfer pricing

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

Contemporaneous transfer pricing document (TPD) is required from taxpayers if they meet any one of the conditions below:

Gross revenue for the financial year is greater than S$10 million; or
TPD was required to be prepared for the previous basis period

There are certain de minimis thresholds for specific transactions for preparing transfer pricing documentation as follows:

Category of related party transactions - Threshold (SGD) per financial year

Purchase of goods from all related parties - 15 million
Sales of goods to all related parties - 15 million
Loan to/from all related parties - 15 million
All other category of related party income or expenses - 1 million (per category of transaction)

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Transfer pricing in Singapore

Category of related party transactions - Threshold (SGD) per financial year

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Category of related party transactions - Threshold (SGD) per financial year

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