Singapore will implement the Global Anti-Base Erosion (GloBE) Rules, that is, Income Inclusion Rule and Undertaxed Profits Rule, and Domestic Top-up Tax from January 1, 2025.Continue Reading
Singapore to implement Pillar 2 tax rules from 2025
Singapore
Transfer pricing news, BEPS news, and international tax news in Singapore
Singapore sets indicative margin for related party loans for 2021
If taxpayers choose to apply the indicative margin, they will apply the indicative margin on the appropriate base reference rate selected for the related-party loan.Continue Reading
Another MNC under the ‘Permanent Establishment’ scanner in India
By Ritu Shaktawat (Partner, Khaitan & Co, India) and Sneh Shah (Senior Associate, Khaitan & Co, India)
Singapore Ratifies BEPS MLI to tackle MNE tax avoidance
The BEPS MLI will enter into force for Singapore on April 1, 2019.Continue Reading
Australian Taxation Office, BHP Settle Transfer Pricing Dispute
The author is Alex Hunter, Editor, TP News. He oversees and updates the publication and also regularly writes news stories about transfer pricing and international tax law. Alex is reachable on email (editor@transferpricingnews.com) and by phone (+447808558597).
The Australian tax authority has settled a transfer pricing dispute with BHP in relation to the mining giant’s marketing operations in Singapore.
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Mutual Agreement Procedure Statistics Published for 2017
The OECD on October 10 published its 2017 mutual agreement procedure (MAP) statistics covering 85 tax jurisdictions.
According to the 2017 MAP statistics, new transfer pricing MAP cases are up by 25 percent and other MAP cases by 50 percent. Anecdotal evidence suggests that the increase in new MAP cases is due to a range of factors including the effects of the new reporting framework and increased awareness of and expectations from taxpayers about MAP, the OECD noted.Continue Reading
Singapore’s Tax Authority Updates Country by Country Reporting Guidance
Taxpayers can report rounded figures in their country-by-country (CbC) reports, Singapore’s tax authority has clarified.Continue Reading
Tax Treaty between Singapore, Nigeria: Read Key Provisions
The tax treaty between Singapore and Nigeria will enter into force on November 1, 2018, and will take effect on January 1, 2019.Continue Reading
Baker McKenzie Elects New Tax Partners
Law firm Baker McKenzie has announced the election of 13 new tax partners.
The newly elected partners are: Michael Nixon (Singapore), Simone Bridges (Sydney), Kirill Vikulov (Moscow), David Jamieson (London), Jessica Eden (London), Rodrigo Castillo Cottin (Bogota), Paul F. DePasquale (New York), Tatyana Johnson (New York), Victor Alejandro Morales-Chavez (Mexico City), Jonathan Welbel (Chicago), Joshua Nixt (New York), Andrew C. O’Brien-Penney (Chicago), and Ivan Tsios (Chicago).Continue Reading
Singapore Signs Tax Treaty with Tunisia
Singapore and Tunisia have signed a tax treaty, which provides for low withholding tax rates and a detailed exchange of information provision.Continue Reading
Singapore Updates Transfer Pricing Guidance
The author is Alex Hunter, Editor, TP News. He oversees and updates the publication and also regularly writes news stories about transfer pricing and international tax law. Alex is reachable on email (editor@transferpricingnews.com) and by phone (+447808558597).
On February 23, 2018, the Inland Revenue Authority of Singapore (IRAS) published key updates and amendments to the country’s transfer pricing guidelines, including new transfer pricing documentation requirements.Continue Reading
Revised Singapore, Sri Lanka Tax Treaty In Force
A revised tax treaty between Singapore and Sri Lanka entered into force on December 31, 2017. Continue Reading