{"id":376,"date":"2018-02-23T13:21:06","date_gmt":"2018-02-23T05:21:06","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=376"},"modified":"2018-03-01T13:53:10","modified_gmt":"2018-03-01T05:53:10","slug":"income-tax-transfer-pricing-documentation-rules-2018","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2018\/02\/23\/income-tax-transfer-pricing-documentation-rules-2018\/","title":{"rendered":"Income Tax (Transfer Pricing Documentation) Rules 2018"},"content":{"rendered":"<p>The Income Tax (Transfer Pricing Documentation) Rules 2018 (S 93\/2018) made on 21 February 2018, outline the requirements under section 34F(3) of the Singapore Income Tax Act in preparing transfer pricing documentation by an applicable entity with a related party in a basis period specified.\u00a0 The Rules are deemed to be effective from 23 February 2018 and are effective for the Year of Assessment 2019 and every subsequent year of assessment.<\/p>\n<p><em>The Arm&#8217;s Length Principle<\/em><\/p>\n<p>IRAS recommends that taxpayers adopt the following 3-step approach to apply the arm&#8217;s length principle in their related party transactions:<\/p>\n<p>Step 1 &#8211; Conduct a comparability analysis<\/p>\n<p>Step 2 &#8211; Identify the most appropriate transfer pricing method and tested party<\/p>\n<p>Step 3 &#8211; Determine the arm&#8217;s length results<\/p>\n<p>For further information on a 3-step approach to apply the arm&#8217;s length principle in related party transactions as recommended by IRAS, please refer to the e-Tax Guide on Transfer Pricing Guideline (Fifth Edition) which was published on 23 February 2018, Part I, section 5.<\/p>\n<p>Source: IRAS website, 23 February 2018<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Income Tax (Transfer Pricing Documentation) Rules 2018 (S 93\/2018) made on 21 February 2018, outline the requirements under section 34F(3) of the Singapore Income Tax Act in preparing transfer pricing documentation by an applicable entity with a related party in a basis period specified.\u00a0 The Rules are deemed to be effective from 23 February [&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":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,6],"tags":[],"class_list":["post-376","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\/376","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=376"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/376\/revisions"}],"predecessor-version":[{"id":377,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/376\/revisions\/377"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=376"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}