The Inland Revenue Authority of Singapore (IRAS) published the 1st e-Tax Guide, "GST: Transfer Pricing Adjustments", on 9 November 2020 and released an updated 2nd edition published shortly on 1 June 2021. Transfer pricing is an important aspect of international tax when MNEs transact with their related parties in different jurisdictions where tax authorities require transactions to be priced at arm's length. Transfer pricing not only influences the prices which are transacted between related parties, but also the corresponding GST to be paid on the values of the supply or import of goods or services.
To start the new year, BDO would like to invite you to attend our webinar on the interplay between transfer pricing adjustments and GST. We have put together our BDO experts from GST and Transfer Pricing to discuss the related issues faced by businesses and share their practical experiences.
A Highlight of Key Areas:
- Impact of transfer pricing adjustments on GST reporting
- Case study covering key areas to be addressed
- Timeline of actions to be taken by taxpayers
- Practical experience sharing by the BDO team
- Best practices and checklist for supporting documentation
- Penalties and administrative concession