We are so proud to deliver you the good news! Our firm won two prestigious awards at the Asia Tax Awards 2017 organised the International Tax Review. Transfer Pricing Solutions Asia (Our Singapore office) won Asia Best Newcomer of the Year and our Director Shannon Smit went home as Asia Transfer Pricing Practice Leader of the Year! It was a great night last Friday in Singapore, and we were glad to be part of the event. The awards recognised the top tax and transfer pricing practitioners in Asia.
We couldn’t have done it without our amazing team support in Australia and Asia, and for that, we’re extending our sincerest thanks for your contribution to the firm.
Last but not least, congratulation to fellow winners!
Read more about the announcement:
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.