It is now mandatory for businesses to prepare the Transfer Pricing (TP) documentation, if certain conditions are met. Non-compliance with the TP Documentation Rules will effect a costly penalty of $10,000 per offence, to the taxpayer.
Additionally, the recent onslaught of the COVID-19 pandemic has led to further updates to the transfer pricing guidelines (e.g., IRAS issued FAQs in September 2020, and OECD’s guidance in December 2020). It is therefore necessary to prepare the FY 2020 documentation with utmost care and compliance with the transfer pricing guidance.
This Masterclass Programme is specifically designed to give Finance and Tax Professionals a practical and in-depth understanding of the intricacies involved in preparing and defending transfer pricing documentation.
The Singapore Transfer Pricing Regime
Defending the Pandemic Year Outcomes
At the end of this programme, you will:
Dr. Sowmya Varadharajan is a Director at IC Advisors Pte Ltd, a firm that helps companies to design and document appropriate transfer pricing strategies and approaches for their related party transactions. Having been trained in the U.S. on international tax and transfer pricing issues through blue-chip corporations, Sowmya now applies her transfer pricing training to transfer pricing issues in the Asia Pacific region. Sowmya has extensive experience in the high technology/ semiconductor as well as pharmaceutical/ biomedical industries.
In addition to transfer pricing, Sowmya is also skilled in Intellectual Property (“IP”) valuation. With the growth in transfer pricing related audits in the Asia Pacific region, Dr. Sowmya has assisted clients in India, China, Malaysia, Indonesia, and Singapore in defending their transfer pricing arrangements with tax authorities.
Sowmya is an economist with Ph.D. in Economics from Cornell University and has more than 17 years of transfer pricing consulting experience.