We are so proud to deliver you the good news! Our firm won two prestigious awards at the Asia Tax Awards 2017 organised the International Tax Review. Transfer Pricing Solutions Asia (Our Singapore office) won Asia Best Newcomer of the Year and our Director Shannon Smit went home as Asia Transfer Pricing Practice Leader of the Year! It was a great night last Friday in Singapore, and we were glad to be part of the event. The awards recognised the top tax and transfer pricing practitioners in Asia.
We couldn’t have done it without our amazing team support in Australia and Asia, and for that, we’re extending our sincerest thanks for your contribution to the firm.
Last but not least, congratulation to fellow winners!
Read more about the announcement:
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.
JobKeeper forms part of taxable income in the tax return. Makes sense, it is a subsidy against wages, so I am sure there are no surprises there, but how do you assess the arm’s length financial outcomes of the entity for transfer pricing purposes?
The ATO expect that Australian entities will retain the benefit of the JobKeeper payment they receive. So how do you treat the JobKeeper payments for transfer pricing purposes?