ATO released the initial Practical Compliance Guide (PCG) 2017/1that sets out the ATO’s compliance approach to transfer pricing issues related to centralised operating models (known as "hubs") involving procurement, marketing, sales and distribution functions.
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Digital transformation has contributed significant changes to the world, changing the nature of the business and the industry value chain, even the way people interact with each other. Intangible Properties ("IPs") have become the main driver of business profits within Multinational Enterprises ("MNEs") especially in the digital economy ecosystem.
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"Teamwork makes the dream work!"
Our nominations for 2019 are Australian Transfer Pricing Firm of the Year, Singapore Transfer Pricing Firm of the Year, Asia's Transfer
Pricing Practise Leader of the Year - Shannon Smit and Asia's Best Newcomer of the Year - Transfer Pricing Solutions Malaysia
Tax authorities worldwide are increasing their focus on companies involved in commodity transactions as a result of the introduction of new guidance on commodity transactions by the OECD in 2015 and the number of court cases involving companies in the mining industry worldwide.
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With the increasing scrutiny from the Australian Taxation Office (“ATO”) in transfer pricing matters over the recent years, the burden and cost of compliance are taking its toll on taxpayers, particularly, the small to medium businesses.
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To all of our accounting firm clients and potential clients, we wanted to alert you to the round of "Failure to lodge" notices that the ATO is now issuing. We recently received one from an accounting firm who as you can imagine, called us in absolute panic! The failure to lodge was for $525,000 penalty!!! Ok, I think I have your attention now!
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In 2018, the Inland Revenue Authority of Singapore amended the Income Tax Act to enforce Mandatory Transfer Pricing Documentation for Singapore Taxpayers. Is the new TP Documentation a real game changer?
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If you are an Entrepreneur, Start-Up or SMEs don’t disregard transfer pricing and fall under the trap of thinking that transfer pricing affects large MNEs only.
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Is your Company subject to transfer pricing in Malaysia? Our article summarises key considerations to ensure compliance with transfer pricing in Malaysia
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The challenge has been thrown down. How do we best simplify key points around transfer pricing? We think we’ve found the answer. Pizza. (Stay with us!) If transfer pricing was a pizza, what would be the main ingredients to consider?
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The benchmarking analysis is the backbone of a transfer pricing analysis, benchmarking analysis that is reliable and defendable is key when preparing transfer pricing documentation.
Is your benchmarking analysis reliable?
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
