Singapore to assess its TP rules
August 07, 2008
The Inland Revenue Authority of Singapore (IRAS) is assessing how well taxpayers are complying with the country’s transfer pricing guidelines that were issued in 2006 by carrying out a transfer pricing consultation (TPC) programme.
The IRAS hopes to identify potential problems and areas of improvement in TP practices by implementing field visits in which taxpayers will be expected to present details of each related party transaction, how they are priced and any third party comparable information that has been used.
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