{"id":1674,"date":"2021-01-06T11:31:31","date_gmt":"2021-01-06T03:31:31","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=1674"},"modified":"2021-04-07T11:41:15","modified_gmt":"2021-04-07T03:41:15","slug":"advance-ruling-summary-on-related-party-for-singapore-transfer-pricing-purposes","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2021\/01\/06\/advance-ruling-summary-on-related-party-for-singapore-transfer-pricing-purposes\/","title":{"rendered":"Advance Ruling Summary on &#8220;Related party for Singapore transfer pricing purposes&#8221;"},"content":{"rendered":"\n<p>On or about 4 Jan 2021, the Inland Revenue Authority of Singapore (IRAS)  has published an Income Tax Advance Ruling Summary No. 1\/2021 with  regards to &#8220;Related party for Singapore transfer pricing purposes&#8221;.<\/p>\n\n\n\n<p>The subject was whether  Company  A  (\u201cCo  A\u201d)  is  considered  a  related  party,  within  the  meaning of sections 34D, 34F and 13(16) of the Income Tax Act, to either Company X (\u201cCo X\u201d), Company Y (\u201cCo Y\u201d) or Company Z (\u201cCo Z\u201d).   <\/p>\n\n\n\n<p><strong>The Fact and Organization Chart<\/strong><br><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"677\" height=\"297\" loading=\"lazy\" src=\"https:\/\/i0.wp.com\/ehluar.com\/main\/wp-content\/uploads\/2021\/04\/image.png?resize=677%2C297\" alt=\"\" class=\"wp-image-1675\" srcset=\"https:\/\/i0.wp.com\/ehluar.com\/main\/wp-content\/uploads\/2021\/04\/image.png?w=677 677w, https:\/\/i0.wp.com\/ehluar.com\/main\/wp-content\/uploads\/2021\/04\/image.png?resize=300%2C132 300w\" sizes=\"(max-width: 677px) 100vw, 677px\" \/><\/figure>\n\n\n\n<p> <br>It was ruled that Co A is not regarded as a related party to either Co X, Co Y or Co Z for the purposes of sections 34D, 34F and 13(16) of the SITA because:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>neither Co X, Co Y nor Co Z has control over Co A; and <\/li><li>Co A and either Co X, Co Y or Co Z are not under the control of a common person. <\/li><\/ul>\n\n\n\n<p>For more information about the ruling, please go to the IRAS website. <\/p>\n\n\n\n<p>Source: <em>IRAS<\/em>, 6 Jan, 2021<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On or about 4 Jan 2021, the Inland Revenue Authority of Singapore (IRAS) has published an Income Tax Advance Ruling Summary No. 1\/2021 with regards to &#8220;Related party for Singapore transfer pricing purposes&#8221;. The subject was whether Company A (\u201cCo A\u201d) is considered a related party, within the meaning of sections 34D, 34F and 13(16) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,6],"tags":[],"class_list":["post-1674","post","type-post","status-publish","format-standard","hentry","category-incometax","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=1674"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1674\/revisions"}],"predecessor-version":[{"id":1676,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1674\/revisions\/1676"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=1674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=1674"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=1674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}