Singapore updates key sections of its Transfer Pricing Guidelines

The Inland Revenue Authority of Singapore has published the 7th Edition of its Transfer Pricing Guidelines.

The new edition provides updates and additional transfer pricing (TP) guidance in several areas, including TP documentation, financial services TP, TP audits and the 5% TP surcharge.

Taxpayers should review these carefully to examine how these changes may affect their intercompany financing TP policies and compliance.