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VAT

New e-Tax Guide clarifying GST treatment of transfer pricing adjustments issued

The Inland Revenue Authority of Singapore (IRAS) on 9 November 2020 released a new e-Tax Guide “GST: Transfer Pricing Adjustments.” The guide explains the goods and services tax (GST) treatment of adjustments to the transfer price of transactions made between related parties. The guidance applies as from the date of publication, including to GST adjustments that have yet to be made in respect of transfer pricing (TP) adjustments made prior to 9 November 2020. This article summarizes the key aspects of the guidance.

Source: Deloitte

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