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Description
2019 is the first year in which most markets in the Asia Pacific region will implement BEPS Action Plan 13: Transfer Pricing Documentation, consistently. Therefore, it is critical to have a robust understanding of each region’s TP documentation framework, which are classified as Developed, Less Developed and Developing.
Additionally, be updated on the two recent changes in the transfer pricing landscape likely to impact various companies in Singapore. Firstly, the latest issuance of transfer pricing guidelines for commodity trading entities by IRAS; and secondly the transfer pricing rules and legislation for the Digital economy. The trainer will provide a detailed understanding of how transfer pricing principles should be applied to commodity trading entities and the Digital Economy
Through the use of case examples, this seminar aims to ensure that taxpayers achieve a state of readiness to manage their transfer pricing compliance and avoid unnecessary penalties in the evolving TP landscape.
PLUS! Bonus Value-Added:
Obtain a cheat sheet providing a succinct summary of the transfer pricing regime in key APAC markets. Taxpayers can rely on this to develop a robust transfer pricing action plan.
What you will learn
By the end of this workshop, you will :
- Understand the overall transfer pricing framework under OECD and how such a framework is applied by the individual countries
- Discuss the common tackle questions by taxpayers on the pitfalls of transfer pricing compliance and how it should be managed to avoid unnecessary penalties
- Build a robust transfer pricing action plan
- Gain insights on the most recent Singapore transfer pricing legislation with regards to commodity trading
- Find out the proposed changes on transfer pricing for the Digital Economy
Programme Outline
Obligations of Taxpayers under Action Plan 13 and Managing Transfer Pricing Compliance
- Overview of Action Plan 13 and implementation guidelines provided to taxpayers
- How “consistent” is the implementation of Action Plan 13?
- Find out what information on related party transactions is typically collected and learn how this impacts your transfer pricing documentation and analysis
- Pitfalls of transfer pricing compliance under Action Plan 13
- How to manage transfer pricing compliance in a cost effective manner when having operations across the Asia Pacific region?
Regional Transfer Pricing Framework – Developed, Less Developed and Developing
- Cheat sheet for each of the market, outlining the specific nuances in the implementation of the transfer pricing legislation
- Examining what does varying transfer pricing framework mean for companies that have operations across the region
Latest Update on Transfer Pricing Guidelines for Commodity Trading Entities (1/4 coverage)
- The commodity trading value chain
- Functional analysis
- Transfer pricing analysis of commodity trading entities
Proposed Transfer Pricing Regime for Digital Economy (1/4 coverage)
- Proposed 3 pillar analysis
- Impact on transfer pricing methodology
Target Audience
- CFOs
- Financial Controllers/Finance Directors/Managers
- Tax Managers/Professionals
Expert Speaker
Dr Sowmya Varadharajan is a Director at IC Advisors Pte Ltd, a firm that helps companies 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 IP valuation. With the growth in transfer pricing related audits in the Asia Pacific region, 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 15 years of transfer pricing consulting experience.