Singapore’s New Transfer Pricing Laws
On 25 September, experts from Dezan Shira & Associates’ Transfer Pricing and Singapore Tax teams collaborated to present on Singapore’s new transfer pricing laws via webinar to an audience from around the world.
Most international businesses, particularly those operating in Asia are unaware of the risks for not complying with transfer pricing regulations. It is therefore paramount that businesses currently in Singapore, or those looking to enter the market in the near future, are kept fully up-to-date with respect to their transfer pricing obligations.
What was Discussed?
The webinar began with our Head of International Tax and Transfer Pricing, Paul Dwyer, summarising the transfer pricing environment within Singapore. Included was an overview of transfer pricing methods and how the Inland Revenue Authority of Singapore (IRAS) generally applies the arm’s length principle (ALP).
Following the introduction, Transfer Pricing Associate, Filippo Bortoletti, discussed the new laws under Section 34 of the Singapore Income Tax Act (SITA). This included a summary of how businesses can be compliant.
Finally, our Singapore Tax Manager, Richelle Tay, covered the key takeaways which businesses should keep in mind as core pillars to managing transfer pricing in the proper way.
Resources Available for Free Download
Both the webinar and presentation materials are available in our Asiapedia investor resource library for complimentary download. If you are not yet registered as an Asiapedia member, this takes just a moment and allows unlimited access to all resources.
If you have any further queries regarding transfer pricing in Singapore, or in fact any other market in Asia, please contact our team of experts here.