Singapore provides transfer pricing guidance related to impact of COVID-19

The Inland Revenue Authority of Singapore (IRAS) released COVID-19 Support Measures and Tax Guidance¹ for transfer pricing (TP) on 7 September 2020.

The ongoing COVID-19 pandemic has caused significant disruption to people movements, supply chains and business operations, with devastating financial impact for many companies. Consequently, many businesses have sought clarity on various tax aspects related to the impact of COVID-19 on their operations, and the IRAS has periodically released guidanc…