Frequently Asked Questions : Singapore Transfer Pricing

IRAS does not have a specific preference for any one method. Instead, the method that produces the most reliable results, taking into account the

The Comptroller may make adjustments to the income of the Singapore taxpayer if the arm’s length principle has not been followed. In other words, the

The threshold for related party transactions to be exempted is: Where the taxpayer transacts with a related party in Singapore, and such local

Taxpayers who do not prepare Transfer Pricing Documentation in accordance with section 34F of the Income Tax Act shall be liable to a penalty up to

A Singapore entity is required to prepare Transfer Pricing Documentation for a particular financial year if either of the following conditions are

In 2018, the IRAS made it mandatory for a Singapore Company to prepare Transfer Pricing Documentation. A new section i.e. Section 34F was inserted in

As per Section 13(16) of the Singapore Income Tax Act, “related party”, in relation to a person, means any other person who, directly or indirectly,

Transfer pricing refers to the pricing of goods, services, and intangibles between related parties. The arm's length principle has to be adopted for