In light of the recent announcements by the Inland Revenue Authority of Singapore (IRAS) regarding its success in tax recovery through Transfer Pricing Audits (TPA), businesses now face an evolving tax landscape with heightened scrutiny.
This timely workshop aims to provide participants with practical knowledge on the key principles and concepts of transfer pricing, and an understanding of the key elements and steps to transfer pricing management and execution.
The trainer will discuss the key aspects of transfer pricing using case studies and real-life examples to illustrate how you can manage your transfer pricing exposures.
A Highlight of Key Areas:
A Practical Guide in Transfer Pricing (9am to 12:00pm)
- What is transfer pricing?
- How to determine the “related” relationship?
- Why does it matter?
- What to achieve? - An introduction of the arm’s length principle
- What’s the definition?
- How to determine? - What is comparability analysis?
- What’s the purpose to conduct comparability analysis?
- How to conduct comparability analysis?
- What’s the result from such analysis? - An introduction of transfer pricing methods
- Traditional methods vs Transactional methods
- How to select the most appropriate method?
- How to apply the selected method?
Practical measures to manage Transfer Pricing (1:00pm to 5:00pm)
- Management through daily operation – documentation required
- How and why is it important?
- Other than inter-company agreement, what are the other “documents” required?
- How are the above relevant to the execution of TP policy? - Advanced pricing agreement
- What is it about?
- What transactions and companies are suitable?
- What are the benefits or outcome that could be achieved from APA? - How to manage the inquiries or audits from tax authorities?
- How to analyse the core issues?
- How to strategize the defense approach?
- Sharing of practical experiences and real case examples