The Singapore Ministry of Finance recently announced amendments to the Singaporean transfer pricing rules as part of its ongoing initiative to simplify the overall compliance process for taxpayers. The Income Tax (Transfer Pricing Documentation) (Amendment) Rules 2024 came into effect on 10 June 2024. Reflecting these changes, the Inland Revenue Authority of Singapore (“IRAS”) also issued the 7th edition of the Singapore Transfer Pricing Guidelines (“SGTP Guidelines” or “Guidelines”) to provide further clarity and guidance on the adoption of Rules 2024.
Please click on the below button to download the link to review our summary of the amendments made under Rules 2024 and the 7th edition of the SGTP Guidelines.
Jack Sheehan
Partner, Head of Regional Tax
Thailand
Jack is a Partner and Tax Leader at the firm.
