Tax Bulletin provides updates and analyses of regulatory and other developments relating to corporate tax in Singapore.
October 2008
The Inland Revenue Authority of Singapore (IRAS) have recently issued a circular on transfer pricing consultation, setting out how they intend to review taxpayers’ compliance with the arm’s length standard. They have also provided additional guidance on advance pricing arrangements. These developments, together with their participation at a regional transfer pricing conference and the release of a draft circular on loans and services, represent a step-up by the IRAS in ensuring that taxpayers observe internationally accepted transfer pricing principles when conducting business with related parties.
We are pleased to present you with the October issue of Financial Services Tax Bulletin, which summarises these developments and considers their impact on the financial services sector in Singapore. Read on to find out how they affect your business.
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