2024 Transfer Pricing Updates

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Description

Staying ahead of the curve in transfer pricing is crucial for multinational companies operating in Singapore. With constant regulatory changes and evolving best practices, it is vital to ensure your transfer pricing policies and documentation are compliant and robust.

This dynamic workshop equips you with the latest knowledge and practical insights on transfer pricing in Singapore. Through expert-led sessions, you will gain insights on the recent updates and trends on transfer pricing and international developments like BEPS 2.0, as well as enforcement trends with case study discussions.

Programme Outline

Refreshing the Essentials

• Overview of the arm’s length principle and transfer pricing methods
• Recap of the Singapore transfer pricing requirements

Strengthening Your Transfer Pricing Documentation

• Key areas of focus in preparing or reviewing a transfer pricing report
• IRAS’ expectations for transfer pricing documentation (“TPD”) under Section 34F
• IRAS’ feedback on TPD submissions and best practices
• Practical tips for ensuring your documentation is comprehensive and well-supported

Navigating Enforcement

• Overview of IRAS’ transfer pricing enforcement practices and recent trends
• Examining IRAS’ areas of scrutiny through a case study
• Strategies for managing and minimizing transfer pricing risks in Singapore
• Q&A session on navigating IRAS’ inquiries and audits

Optimising Your Transfer Pricing Policy

• Addressing challenges related to intra-group services, intangibles, and supply chain restructuring
• Practical considerations for managing group transfer pricing policies across different jurisdictions
• Q&A session on effecting transfer pricing policy implementation

Global Developments and BEPS 2.0

• Update on key international transfer pricing developments
• Update on the developments on Pillar One (GloBE Rules) and Pillar Two (Minimum Tax)

What you will learn

• Stay abreast of the changes and updates in the Singapore transfer pricing landscape
• Master the key areas of focus in preparing or reviewing your transfer pricing documentation
• Effectively optimize your transfer pricing policy implementation approach and aligning best practices
• Stay informed about key international transfer pricing developments and their implications for your business

Target Audience

• Directors
• Business Managers
• In-house tax professionals
• Finance professionals

Expert Speaker

Elis Tan

Elis has over 20 years of tax transfer pricing experience.She started her career with a Big 4 firm in Singapore and was later based in Shanghai, helping China-based multinational clients manage their transfer pricing risks. She had also spent more than 3 years as Head of Transfer Pricing, Asia-Pacific region of one of the largest multinational insurance groups based in the United States.

With extensive experience in handling all aspects of transfer pricing including compliance, planning and controversy management, Elis’ work includes transfer pricing risk assessment, audit defence, tax effective value chain management in relation to the use of regional principals, negotiation of tax incentives and overall tax optimization. She also has experience negotiating advanced pricing arrangements (APAs) with tax authorities in Singapore, China and Japan.

Elis is currently serving on the Singapore transfer pricing round table commissioned by the Inland Revenue Authority of Singapore to consult on transfer pricing matters. She was recognised as one of “Singapore’s 40 promising accountants aged 40 and under” by Singapore Business Review in 2017, and as one of “Highly regarded tax practitioners in Singapore” by the International Tax Review (ITR) in 2023.

Koh Yun Qi

Yun Qi has over 13 years of transfer pricing experience. She started her career with a Big 4 firm in Singapore and was subsequently the Group Transfer Pricing Manager of a listed unicorn start-up based in Singapore.

Yun Qi advises clients on all aspects of transfer pricing from aligning transfer pricing strategies with business operations for the post Base Erosion and Profit Shifting (BEPS) era, to planning and implementation of regional and global restructurings. She has also advised clients on bilateral advanced pricing arrangements (APAs) with tax authorities in Singapore, Japan and Korea, achieving a consensus between the tax authorities and securing transfer pricing certainty for the agreed specified period.

Yun Qi has notable experience in driving value-chain transformation projects for large multinational clients to set up their regional headquarters in Singapore vis-à-vis manufacturing and distribution operations in the Asia Pacific region, achieving an optimised alignment of the Group’s transfer pricing policy with the overall business operations strategy.