Tax 101 Series: Transfer Pricing, An Introduction

Any transfer pricing study's overall objective is to determine the "arm 's-length price" between related parties/associated enterprises. For non-compliance (with the arm's-length principle), section 34E provides that where the action is taken under s 34D, a surcharge of 5% of the amount increased or reduced is recoverable from the person as a debt due to the Government. This session focuses on the statutory and regulatory framework for TP's related parties/associated enterprises in Singapore.

IRAS has recently published a ruling related to related parties within the meaning of sections 34D it is a fascinating time to explore the topic. This session is a mix of practical experience and academic knowledge.

1. Singapore tax system
2. Overview of transfer pricing in Singapore & ALP
3. General statutory provisions that cover transfer pricing
4. Transfer pricing: An introduction to related parties and its definitions
5. Exploratory case study – Case(s) from IRAS Advance ruling
6. Q&A