Transfer Pricing is one of the key tax requirements to consider when expanding your business outside Singapore. Operations in more than one country (at least two countries) is sufficient for a business to be caught up under the transfer pricing regulations.
Transfer Pricing is still a new discipline in Asia Pacific. However, Tax Authorities in the region are super committed to ensure compliance with the legislation.
Whether you are a transfer pricing newbie, a transfer pricing enthusiast or if you just want to understand what transfer pricing is all about, we have summarized below the key things you need to know:
If you are an Entrepreneur, Start-Up or SMEs don’t disregard transfer pricing and fall under the trap of thinking that transfer pricing
affects large MNEs only. Be proactive, and manage your transfer pricing compliance and risks at the beginning to avoid future
Transfer Pricing Solutions Asia can assist with practical and cost-effective solutions for Entrepreneurs, Start-Ups or SMEs.
Be prepared for potential transfer pricing audits by tax authorities. Ensure that your transfer pricing documentation is readily available, organized, and easily accessible.
There is an increasing focus on transfer pricing documentation for intragroup loans in Malaysia. Tax authorities expect comprehensive documentation that demonstrates the arm's length.
In Singapore Taxpayers are required to review and update your transfer pricing documentation annually to ensure its accuracy and relevance.