Recently the tax authority issued a tax assessment regarding transfer pricing to Rio Tinto’s aluminium division according to which
additional taxes in an amount of $86.1 million must be paid for fiscal years 2010 – 2016.
According to the assessment, Rio Tinto’s Australian subsidiaries did not charge an arm’s length price for the aluminium they sold to Rio
Tinto’s Singapore marketing hub.
Is Rio Tinto Singapore ready to pay the additional price to is related party in Australia? Is Rio Tinto Singapore willing to accept the
huge double taxation that will suffer if it pays the additional price? Are you ready to face such huge penalty? How can you avoid this
A simple solution to this would be to comply to the transfer pricing obligations in Singapore!
Did you know Singapore introduced compulsory transfer pricing documentation effective from the year of assessment (YA) 2019? A new penalty
regime was also included for non-compliance with the transfer pricing documentation requirements. Here, we walk you through with the
obligations required in Singapore. Be informed and make the right decisions.
How can we help?
Transfer Pricing Solutions is a boutique transfer pricing firm who works directly with your team, applying
our experience and expertise in transfer pricing to provide, prepare, document and assist in defending your international
related party transactions. Our purpose is to make a difference in the service we provide to our clients by being practical, proactive and
We can assist your clients with the planning and preparation of transfer pricing documentation, country by country (CbC) reporting,
comprehensive transfer pricing policy, performing global and local benchmarking comparable searches, providing training designed for CFOs
and tax teams and performing transfer pricing controversy and audits.