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Description
In light of the recent announcements by the Inland Revenue Authority of Singapore (IRAS) regarding its success in tax recovery through Transfer Pricing Audits (TPA), businesses now face an evolving tax landscape with heightened scrutiny.
This timely workshop aims to provide participants with practical knowledge on the key principles and concepts of transfer pricing, and an understanding of the key elements and steps to transfer pricing management and execution.
The trainer will discuss the key aspects of transfer pricing using case studies and real-life examples to illustrate how you can manage your transfer pricing exposures.
Programme Outline
A Practical Guide in Transfer Pricing (9am to 12:00pm)
- What is transfer pricing?
- How to determine the “related” relationship?
- Why does it matter?
- What to achieve?
- An introduction of the arm’s length principle
- What’s the definition?
- How to determine?
- What is comparability analysis?
- What’s the purpose to conduct comparability analysis?
- How to conduct comparability analysis?
- What’s the result from such analysis?
- An introduction of transfer pricing methods
- Traditional methods vs Transactional methods
- How to select the most appropriate method?
- How to apply the selected method?
Practical measures to manage Transfer Pricing (1:00pm to 5:00pm)
- Management through daily operation – documentation required
- How and why is it important?
- Other than inter-company agreement, what are the other “documents” required?
- How are the above relevant to the execution of TP policy?
- Advanced pricing agreement
- What is it about?
- What transactions and companies are suitable?
- What are the benefits or outcome that could be achieved from APA?
- How to manage the inquiries or audits from tax authorities?
- How to analyse the core issues?
- How to strategize the defense approach?
- Sharing of practical experiences and real case examples
What you will learn
- Understand what is transfer pricing and why is it important
- Get insights on the implication of transfer pricing for taxpayers and tax authorities
- Learn about Singapore’s approach to transfer pricing
- Understand the arm’s length principle, the concept of comparability and the transfer pricing methods
Target Audience
- Business Executives and CFOs who would like to zoom into the practical ways in managing their group transfer pricing policies effectively.
Expert Speaker
Joanna Lam
Joanna has extensive experience providing Transfer Pricing (TP) advisory services to clients, including MNCs and listed companies. She helps to review and provide tax efficient and compliant operational models, guiding start-up businesses to implement and manage their TP models across countries.
Joanna is highly experienced in leading TP controversies and dispute resolutions, assisting companies to devise overall strategies, including liaising with tax authorities to resolve disputes. She is also experienced with advanced pricing agreements (APA), both unilateral and bilateral, and was one of the core engagement team members for China’s first-ever BAPA.
Prior to her current role as a transfer pricing partner, Joanna was with two Big 4 firms in Hong Kong and China for more than 20 years.
This is a face-to-face workshop to be conducted on 18th of July 2024. ACCA members will enjoy the members' fee of $459.00 (before prevailing GST rate). Kindly key in the promo code "ACCA24" during registration. You will be requested to furnish your ACCA membership number upon receipt of our confirmation.