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Changes in transfer pricing in Singapore

IRAS is reviewing how it's practised by S'pore taxpayers. Companies would do well to pay heed to ensure compliance with the arm's-length principle.

On Jan 6 this year, IRAS released new, comprehensive transfer pricing guidelines which replace those in force since 2006.

TRANSFER pricing has become a buzzword of late, not only in the international tax arena, but also for companies here in Singapore.

Transfer pricing - which has to do with the prices charged in transactions between related companies within a group - has been singled out (rightly or wrongly