On 10 June 2024, the Singapore Income Tax (Transfer Pricing Documentation) (Amendment) Rules 2024 became effective. Four days later, on June 14, 2024, the Inland Revenue Authority of Singapore (IRAS) issued the 7th edition of the Singapore Transfer Pricing Guidelines.
The updated guidelines contain updates and additional guidance on various transfer pricing (TP) topics, including:
- Higher thresholds for exemption from TP documentation requirements for specific transactions
- TP audits
- TP adjustments for capital transactions
- Remission of surcharges
- Government assistance
- Strict pass-through costs
This article provides a comprehensive review of these new and revised guidelines.
To read the full article, please click on the below download button:
If you have any questions, feel free to reach out to the following contacts:
Jack Sheehan
Partner, Head of Regional Tax
Thailand
Jack is a Partner and Tax Leader at the firm.
