GloBE Bulletin – August 2024
Singapore TP Regulations – A Snapshot
GloBE Bulletin – July 2024
Singapore Transfer Pricing Regulations
Singapore Transfer Pricing Regulations
Presenting our FAQ document which delves into the essential aspects of the updated Seventh Edition of the Singapore Transfer Pricing Regulations, issued by the IRAS. This FAQ guide is designed to help multinational enterprises navigate the intricate transfer pricing (TP) landscape in Singapore. It covers essential aspects such as the evolution of TP regulations, mandatory documentation requirements, compliance thresholds, and the penalties for non-compliance.
The FAQs provide clear insights on critical updates, including enhanced safe harbour provisions, stricter penalties, and expanded documentation requirements, ensuring alignment with OECD’s BEPS initiatives.
This document also offers guidance with respect to intra-group financial transactions, cost-contribution arrangements, and transfer pricing audits, thereby ensuring compliance and minimizing risks.
Handbook on Pillar Two: Global Anti-Base Erosion (GloBE) Rules
Handbook on Pillar Two: Global Anti-Base Erosion (GloBE) Rules
This publication provides valuable insights into Singapore’s adoption of the Global Anti-Base Erosion (GloBE) Rules, a key component of the OECD’s BEPS 2.0 initiative. It explores the potential impact of the GloBE Rules on Singapore, including estimated revenue collection and the proposed Refundable Investment Credit (RIC) to maintain tax competitiveness. The document also discusses the potential effects of the GloBE Rules on existing tax incentives offered by the Singapore Government and addresses specific scenarios, such as flow-through entities in asset management. It emphasizes the importance of MNEs preparing for the GloBE Rules and highlights the need for a dedicated team of experts to navigate the complex compliance requirements. Overall, this document serves as a comprehensive resource for understanding Singapore’s approach to the GloBE Rules and their implications for multinational enterprises operating in the country.