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Getting Tough on Transfer Pricing – What You Need to Know about Singapore’s New TP Regime
In February 2018, the Income Tax (Transfer Pricing Documentation) Rules 2018 (“Rules”) were gazetted and the Inland Revenue Authority of Singapore subsequently issued the revised Transfer Pricing (“TP”) Guidelines detailing changes to the Income Tax Act and explaining the Rules. This marks a distinct shift from the current, practice-based TP regime to a more formal, rule-based regime, where requirements are now codified in tax legislation and rules.
Most notably, failure to prepare the required transfer pricing documentation (“TPD”) constitutes an offence from the basis year for the year of assessment 2019, and the non-compliant taxpayer is liable to a fine or penalty. The transfer pricing regime also introduces a new surcharge on any TP adjustment made.
Join our half-day seminar to gain insights on Singapore’s latest transfer pricing developments and what these changes mean for local taxpayers.
|Date||16 April 2018 (Mon)|
|Time||2:00pm – 6:00pm (registration starts 1:30pm)|
Take the lift at Lobby 1 (facing Hanis Café & Bakery) to level 3
Fee per pax
RSM Tax Clients*: 1 x complimentary seat, S$100 for second participant
Public*: S$100 per participant
*Limited to maximum of 2 participants per company/group of companies. First come, first served
|Who should attend||Chief Financial Officers, Finance Directors, Financial Controllers, Accountants and Tax Personnel who are involved in accounting and tax matters for their businesses|
For enquiries, please call Rashidah Begum at 6594 7314 or email rashidah@RSMSingapore.sg.