Why should companies care about transfer pricing?
Can mark up be reduced? Can the service be suspended? Benefit test issues if services provided remotely? Can abnormal expenses be excluded?
Can the royalty be suspended? Can the royalty be reduced? Issues with service provider?
Why high risk and why attention? Because a contract is sufficient to originate the transaction. As a result tax authorities are experiencing tax leakages as a result of excessive interest expenses deduction and excessive interest income place in low tax or no tax countries.
What is the impact of COVID-19? Need to modify price of transaction? Need to modify contracts? Need to modify supply chain? Need to perform end of year adjustments? Need to adjust transfer pricing documentation? Need to adjust benchmarking?
The COVID-19 crisis has provoked an unprecedented shift toward working from home (#WFH), and for businesses to implement tools and resources allowing employees to work from home and look after their customers as seamlessly as possible.
Are your controlled transactions in line with the transfer pricing legislation? Mistakes in pricing will roll over from year to year. It is crucial to identify mispricing as soon as possible to better manager the transfer pricing risk.
A US multinational company with subsidiaries around the world, including Singapore, recently prepared new US transfer pricing documentation.
The company applies their transfer pricing policies on a global basis. The US tax director instructs the Singapore tax director to use this
documentation. Is the US documentation acceptable in Singapore?
The Covid-19 pandemic has triggered the most severe recession in 2020 and is causing enormous damage to the world economy. The economic downturn will impact a group’s transfer prices, analysis and documentation, more so with the BEPS Action Plans in place and the high level of transfer pricing scrutiny across the globe.
COVID 19 Singapore Transfer Pricing Guidelines will help taxpayers to manage their transfer pricing risks caused by COVID 19, we have summarised our key practical tips in this blog.
Need a coffee break? Take a five minute and watch #5MinutesTP Episode 4.
Part two about #transferpricing and services transactions, how to price intra-group services
Need a coffee break? Take a break and watch #5MinutesTP Episode 3, #transferpricing for services, trips and traps on how to price services transactions
Grab a coffee and relax watching #5MinutesTP Episode 2 , All you need to know about #transferpricing documentation?
Grab a coffee and relax watching #5MinutesTP Episode 1 , Why should companies care about #transferpricing?
