On November 3, 2016 the Inland Revenue Authority of Singapore (IRAS) updated the content of its section on Transfer Pricing. According to the updated content, from Year of Assessment (YA) 2018, Singaporean taxpayers must report certain details of related party transactions (RPT) if the value of RPT in the audited accounts for the financial year exceeds $15,000,000. It is furthermore stated that the Form for Reporting RPTs should be submitted together with the submission of Form C.

For more information on the RPT requirement, IRAS has attached a document containing a sample copy of the Form for Reporting of RPT and some frequently asked questions to its section on Transfer Pricing. IRAS notices that the actual Form will be uploaded to IRAS website together with the YA 2018 Form C.

Click here to be forwarded to the document containing a sample copy of the Form for Reporting of RPT and some frequently asked questions.

Click here to be forwarded to the section on Transfer Pricing Administration as available on the website of IRAS.

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