SINGAPORE: Singapore’s Inland Revenue Service has today released a sample copy of tax form to be used by multinationals to report related party transactions. The form is designed to allow the tax agency to better assess transfer pricing risks.
From tax year 2018, a company must complete the new form for reporting related party transactions and submit it to the tax authority together with Form C if the value of related party transactions disclosed in the MNE’s audited accounts exceeds $15 million (USD 10.8 million).
