On or about 10 Aug 2021, the Inland Revenue Authority of Singapore (IRAS) has published the sixth edition of the e-Tax guide, GST: Transfer Pricing Guidelines. It replaces the fifth edition published on 23 Feb 2018.

This e-Tax guide aims to helps in:

  • applying the arm’s length principle when transacting with their related parties;
  • applying the arm’s length principle for specific transactions, like related party services and loans;
  • maintaining transfer pricing documentation;
  • applying the facilities provided under the avoidance of double taxation agreements (“DTA”) to avoid or resolve transfer pricing disputes; and
  • understanding the implications of non-compliance with transfer pricing requirements.

This e-Tax Guide explains IRAS’ transfer pricing compliance programme and position regarding various transfer pricing matters and is relevant to a business entity incorporated or registered in Singapore or carrying on a business in Singapore and have transactions with related parties.

It is organised in parts, with Part I being most relevant in understanding and complying with transfer pricing requirements.

Source: IRAS, 11 August 2021