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Shaking up Singapore's transfer pricing regime

The IRAS has sent a clear signal that it is moving away from a guidance-based approach to a formal transfer pricing regime.

The recent changes to the Singapore transfer pricing regime have surprisingly attracted comments from outside the business community.

WHEN the Inland Revenue Authority of Singapore (IRAS) published the first edition of the Singapore Transfer Pricing (TP) Guidelines in 2006, it was a concise circular of just 42 pages. The overall messaging of the circular was friendly - it laid out the key transfer pricing concepts and guiding...

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