Summary of PKF Transfer Pricing webinar conducted on February 13, 2025

Topic: “Key amendments made to Singapore Transfer Pricing Guidelines (7th edition) and relevant takeaways”

The overall Transfer Pricing (TP) landscape in Singapore has undergone a lot of changes in the past decade primarily because the global TP environment has also rapidly evolved. Focus on TP compliances along with ensuring consistency and uniformity of TP policies, processes and polices across any MNE Group has gained paramount importance, especially considering several TP judicial rulings and case laws. As a result, the current TP Guidelines in Singapore have also undergone key amendments.

With this backdrop, PKF Singapore recently hosted an important webinar to discuss the key and significant amendments made to Singapore TP Guidelines and the practical implications/takeaways for companies/taxpayers.

The speaker - was Mr. Sahil Seth (Director, Transfer Pricing – PKF Singapore) who firstly provided an overview of the concept of TP, arm’s length price and their increased significance in today’s TP landscape especially since this analysis and compliance helps to promote consistency and transparency amongst all the related parties and helps to prevent or reduce incidence of TP adjustments and improve the resolution of ongoing TP disputes.

Thereafter, Mr. Seth gave a detailed overview of Singapore TP Documentation (compliance) requirements emphasizing the need for taxpayers to review and refresh their Documentation annually, explaining the difference between a Group level Documentation and a Local Documentation and most importantly, the applicability and requirements for preparing a full version of the TP Documentation or preparing a simplified version of the Documentation.

Moving forward, he then briefly discussed and explained the key and significant amendments made to Singapore TP Guidelines, their implications while supplementing the same with practical examples.

Towards the end, Mr. Seth shared the practical implications/takeaways resulting from the amendments and what are the probable approaches that can be adopted by taxpayers to adequately and appropriately manage their TP compliance requirements.

Finally, the floor was open for a Q&A session and many of the attendees had several questions on different TP topics and all the questions were addressed the speaker which was highly appreciated by the attendees and the webinar was wrapped up.

At PKF, we have a dedicated team of global TP experts and specialists based out of all the major countries of the world, who have rich and significant experience spread across different industries and sectors. Our team can provide all the necessary assistance and support in terms of TP compliance, advisory, dispute prevention and dispute resolution, in accordance with the local rules and regulations as well as the global TP principles and standards prescribed by the OECD.

Missed the webinar? Watch our webinar recording here