Compliance relief for Singaporean businesses
January 26, 2017
Singapore’s tax authority has released new guidelines that will make life easier for Singaporean taxpayers, as they can now rely on indicative margins on their related-party loans below SGD 15 million ($10.5 million).
The guidelines, released by the Inland Revenue Authority of Singapore (IRAS), will not only simplify compliance requirements, but also give taxpayers certainty on the interest rate applied in certain circumstances. Taxpayers with large numbers of intercompany financing arrangements will particularly benefit from the updated guidelines.
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