A Singapore entity is required to prepare Transfer Pricing Documentation for a particular financial year if either of the following conditions are met:
– Gross revenue of the Singapore entity exceeds SG$ 10 million; or
– The Singapore entity was required to prepare Transfer Pricing Documentation in the previous financial year.
Taxpayers are not required to submit the Transfer Pricing Documentation along with the annual tax return. It is required to be submitted within 30 days when required by IRAS.