Transfer Pricing Services in Singapore
Transfer pricing is a critical component of global tax compliance, determining the pricing of goods, services, funds, rights, or intangible assets transferred between related parties, such as subsidiaries of the same multinational corporation. In Singapore, transfer pricing documentation is mandatory under Section 34F of the Income Tax Act.
What is Transfer Pricing?
Transfer pricing ensures that transactions between related entities are conducted at fair market value, known as the arm's length price. This practice is essential for compliance with tax regulations and to avoid disputes with tax authorities. However, the complexity of transfer pricing has grown due to factors such as:
- Expansion of international trade
- Changes in local and global regulations
- Economic volatility
To stay compliant, businesses must maintain up-to-date documentation demonstrating that their related-party transactions adhere to arm's length principles.
Apexia Corporate Advisory's Comprehensive Transfer Pricing Services
-
Transfer Pricing Documentation
We assist in preparing mandatory transfer pricing documentation in line with Singapore's regulatory requirements, including:
- Reviewing existing transfer pricing policies and supporting documentation
- Suggesting improvements to align with OECD Guidelines, BEPS Action Plans, and local regulations
- Preparing documentation in accordance with the Transfer Pricing Documentation Rules
- Creating transfer pricing documentation for commodity marketing and trading entities as per IRAS's e-tax guidelines
- Compiling the Group Master File
- Facilitating Country-by-Country Reporting (CbCR)
-
Transfer Pricing Audit Defense
Our audit defense services ensure that your business is well-prepared for scrutiny by tax authorities. We provide:
- Comprehensive responses to audit questionnaires issued by IRAS
- Risk profiling and analysis of potential outcomes
- Representation during meetings with Revenue Officers
- Assistance during field visits and follow-up actions
- Strategic advice to conclude audit proceedings efficiently
-
Transfer Pricing Advisory
Our advisory services focus on creating a tax-efficient supply chain structure while maintaining compliance. Services include:
- Reviewing and drafting intercompany agreements to align with arm's length principles
- Royalty benchmarking and benefit analysis
- Documentation for management charges with appropriate cost allocation methods
- Loan benchmarking to establish arm's length interest rates
- Guidance on Mutual Agreement Procedure (MAP) to resolve tax disputes amicably
Who is Exempt from Transfer Pricing Documentation?
Certain businesses are exempt from preparing transfer pricing documentation if:
- Their gross annual revenue does not exceed S$10 million.
- IRAS has not specifically requested the documentation.
Why Choose Apexia Corporate Advisory for Transfer Pricing Services?
Expertise and Compliance
Apexia Corporate Advisory's team has extensive experience in transfer pricing matters, ensuring your transactions comply with Singapore's regulations and global best practices.
Tailored Solutions
We offer customized strategies, including value chain analysis and tax-efficient structures, to meet your specific business needs.
Comprehensive Support
From documentation preparation to audit defense, our holistic approach ensures seamless compliance and mitigates risks.
Decades of Experience
Backed by over 30 years of industry expertise, we deliver practical and effective solutions for transfer pricing challenges across the Asia-Pacific region.
Contact Apexia Corporate Advisory Today
Ensure your transfer pricing compliance with Apexia Corporate Advisory's professional services. Let our experts guide you through documentation, audits, and advisory to achieve optimal tax outcomes while adhering to Singapore's regulations.
Get in Touch to learn more about how we can support your business.
