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Transfer Pricing

 

How does Transfer Pricing work in Singapore?

Transfer Pricing, which is the pricing of goods, services and intangibles between related parties, works via ‘the arm’s length principle’ in Singapore. This arm’s length principle is the internationally accepted standard adopted for transfer pricing between related parties, which means that the profits should be taxed where the real economic activities generating the profits are performed and where value is created.

‘Related parties’ including branches and head offices, are parties who control one another, or who are under the common control of another party, whether directly or indirectly.

How can we help you in working out the correct Transfer Pricing while trading in Singapore?

Taking help of experts such as us, is also very important as in Singapore, the onus is on taxpayers, who should prepare and keep contemporaneous transfer pricing documentation to show that their related party transactions are conducted at arm’s length.

Our tax experts are well-versed in transfer pricing regimes across jurisdictions, and are best placed to guide you on what transfer pricing documentation to prepare, and how to prepare it. They know how IRAS define ‘related parties’ and how it applies the ‘arm’s length principle’.

More questions on Transfer Pricing?

We can help you sort out your concerns with creating a draft or updating existing transfer pricing document, perform update using benchmarking exercises, and develop transfer pricing strategies to counteract risks.

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