On February, we did a workshop in collaboration with Singapore Institute of Accredited Tax Professionals (SIATP) about the practical insights of transfer pricing benchmarking.
If you didn’t get a chance to attend the event, SIATP has summarised in an excellent article all the key tips and topics discussed during the session. The full article was published in one of Singapore’s top and well-respected magazines in the accounting industry, The Institute of Singapore Chartered Accountant (ISCA) Journal, March 2017 Edition.
If you haven’t done so, get your copy of this unique article about how to perform a benchmarking in the following links:
A few photos from ISCA Journal hard copy, March 2017
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Singapore is often a preferred location for setting up headquarters as the door to conduct business in Asia. The IRAS has released its views on how Singapore HQ's should plan and implement their transfer pricing framework. Want to know more? Read our article with our views on IRAS TP Guidelines for Singapore HQs.
The Malaysian Finance Bill 2020 incorporates transfer pricing-related changes to the current Income Tax Act, 1967 (“ITA”). The changes permit significantly greater authority to the Malaysia Inland Revenue Board (“MIRB”) and re-emphasises the importance of transfer pricing compliance, with effect from 1 January 2021.
The OECD guidance emphasised that, besides interest rates, all terms and conditions of the financing transactions (including the volume of debt) should be tested against the arm’s length principle.