The last several years have been very eventful for the global transfer pricing world and we have witnessed the development of the transfer pricing landscape in Singapore and the region. On 12 January 2017, the Inland Revenue Authority of Singapore (IRAS) issued the fourth edition of the Transfer Pricing Guidelines (TP Guidelines). The updated TP Guidelines contains several key changes and largely reflects IRAS’ commitment in implementing the four minimum standards of the 15 action plan under OECD’s Base Erosion and Profit Shifting (BEPS) project.
In June, the IRAS signed the Multilateral Competent Authority Agreement on the exchange of Country-by-Country Reports. In the same month, the Ministry of Finance (MOF) has also released a draft Income Tax bill which proposes to legislate mandatory transfer pricing documentation requirement.
The practical implication of all these new changes is being felt by businesses through the increasing level of scrutiny and emphasis on compliance by the IRAS. This has made it critical for businesses to be aware of developments which impact their dealings with related parties.
Considering that the level of transfer pricing queries are only expected to rise going forward, it would also be useful to be informed about the various business models and typical transfer pricing issues surrounding them.
We would like to invite you to a breakfast session where transfer pricing experts from BDO Singapore would share with you how transfer pricing impacts your business and how can you stay prepared.
Date: Wednesday, 26 July 2017
Time: 9:00 am – 10.00 am (Registration starts at 8.45 am)*
Venue: Nanyang Room, 600 North Bridge Road, #17-01 Parkview Square, Singapore 188778
Fee: Complimentary (limited to two persons per organisation)
Please see the details of the programme below:
Key changes in the Singapore transfer pricing regulations and increased focus on compliance by IRAS
Update on recently introduced reporting requirements
Sharing the changes to the transfer pricing legislation proposed in the draft Income Tax Act
Discussion on typical transfer pricing issues for common business models
Experience sharing on increased TP queries by transfer pricing professionals from BDO
Question & Answer session
Note: Registration is on a first-come-first-served basis and you will be informed via email (nearer the event date) when your registration is confirmed.
*Actual time and duration may differ slightly.