Transfer Pricing Solutions is growing. As an industry leader in the Asia-Pacific Region, we are delighted to announce the opening of our new entity located in Singapore. Transfer Pricing Solutions Asia allows us to cement our expertise in transfer pricing solutions in one of Asia’s largest financial centres, increasing our presence in the region.
Since the final deliverables of the BEPS Action Plan were released by the OECD in October 2015, tax authorities in South-East Asia have focused on aligning their local legislation, to reflect the outcomes of the BEPS Action plan. Authorities have also increased their focus on strengthening enforcement of their local transfer pricing rules.
Bringing extensive global experience, our team will work alongside companies in the region to address complex transfer pricing issues and provide solutions that are both easy to understand and easy to implement. Our award-winning team’s experience with recent changes implemented in Australia will be rewarding and timely for businesses located in the region.
We encourage you to visit our website www.transferpricingsolutions.
Singapore is often a preferred location for setting up headquarters as the door to conduct business in Asia. The IRAS has released its views on how Singapore HQ's should plan and implement their transfer pricing framework. Want to know more? Read our article with our views on IRAS TP Guidelines for Singapore HQs.
The Malaysian Finance Bill 2020 incorporates transfer pricing-related changes to the current Income Tax Act, 1967 (“ITA”). The changes permit significantly greater authority to the Malaysia Inland Revenue Board (“MIRB”) and re-emphasises the importance of transfer pricing compliance, with effect from 1 January 2021.
Thec Covid-19 pandemic has triggered the most severe recession 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.