On 24 May 2019, the Inland Revenue Authority of Singapore (“IRAS”) released new transfer pricing guidance on commodity transactions in the form of an e-tax guide titled “Income Tax: Transfer Pricing Guidelines, Special Topic – Commodity Marketing and Trading Activities (First Edition)”. This guidance is an extension of the Singapore Transfer Pricing Guidelines (Fifth Edition) issued on 23 February 2018.
Singapore is one of the largest commodity trading hubs in Asia, with world-class trading facilities for oil and gas, agri-commodities, metals and minerals. However, the role and the value of commodity trading hubs in Singapore are often not fully understood, which may lead to uncertainty on the compensation of trading activities conducted in Singapore. It is important that companies can substantiate the functions performed, assets used and risks assumed by the Singapore commodity trading hub in these transactions, to ensure that the transfer price for related party transactions is reflective of their contribution to the value creation of the group.
Organised by BDO Tax Advisory Pte Ltd (“BDO”) in collaboration with Enterprise Singapore (“ESG”), this seminar puts together BDO experts with industry practitioners from various commodity sectors to discuss pertinent tax and transfer pricing issues faced by Singapore commodity companies.
- A holistic view of the role and value proposition of Singapore commodity hubs by ESG
- Guidance on transfer pricing for Singapore commodity trading hubs by BDO transfer pricing experts
- Panel discussion on tax compliance and transfer pricing implementation by BDO tax and transfer pricing experts and industry practitioners
WHO SHOULD ATTEND
Global Tax and Finance Heads, Regional/Country Tax and Finance Managers or other key decision makers of commodity companies.
Don’t miss this opportunity to hear from our distinguished speakers and to network and exchange viewpoints with other participants. We look forward to your participation.
Time: 9.00 am – 12.30 pm (Registration starts at 8.30 am)
Venue: Ballroom One (Level 6), Mandarin Orchard Singapore, 333 Orchard Road Singapore 238867
Fee: S$80 (BDO clients/alumni) / S$95 (SIATP members) / S$130 (public) per person
Fee inclusive of GST at the prevailing rate and light refreshments during the break.
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. By submitting your details, you agree to us processing your data in accordance with our Data Protection Policy.
The organiser reserves the right to change the venue, date and programme due to circumstances outside our control. Registration is on a first-come first-served basis and you will be inform via email (nearer the event date) when your registration is confirmed. Actual time and duration may differ.
*Actual time and duration may differ slightly.