Singapore Tax Agency Posts Updated e-Tax Guide on Transfer Pricing

The Singaporean Inland Revenue Authority June 14 posted online the updated e-tax guide on transfer pricing guidelines. Topics covered include: 1) a brief overview of the guide and relevant definitions; 2) details on transfer pricing principles, including an explanation of the arm’s length principle, as well as relevant documentation requirements; 3) compliance information on transfer pricing audits and adjustments, as well as penalties for noncompliance; 4) details on dispute resolution and prevention, including guidance on the process pertaining to advance pricing arrangements (APA) and mutual agreement procedures (MAP); 5) relevant examples; and 6) detailed information on specific updates to the …