• BDO Transfer Pricing Newsflash: IRAS Updates Transfer Pricing Guidelines
Technical update:

BDO Transfer Pricing Newsflash: IRAS Updates Transfer Pricing Guidelines

15 January 2016

On 4 January 2016, the Inland Revenue Authority of Singapore (IRAS) released the third edition of the e-Tax guide on the transfer pricing (TP) guidelines replacing the second edition TP guidelines issued on 6 January 2015, which had mandated contemporaneous TP documentation.

These new guidelines provide additional guidance on the following:

  • Enhancements to guidance on the Advance Pricing Agreement process;
  • Additional guidance on the application of cost-plus method; and
  • Enhanced guidance on related party loans.

It is also interesting to note that the IRAS has not proposed any sspecific changes to the TP regulations to incorporate the guidance provided by the OECD under the final Base Erosion and Profit Shifting (BEPS) actions plans, like the introduction of Country-by-Country Reporting (CbCR) standards.

For more information on transfer pricing guidelines, you may contact: harsh@bdo.com.sg