The Inland Revenue Authority of Singapore (IRAS) has releases second edition of Transfer Pricing Guidelines on January 6, 2015.

The e-Tax guide is separated into three main parts and it discusses ways to resolve transfer pricing disputes. It also sets out detailed guidance on securing advance pricing agreements and the mutual agreement procedure.  Part I of the Guide provides background on the treatment of related-party transactions and transfer pricing documentation requirements. Part II of the Guide explains IRAS’s transfer pricing administration and compliance program. Part III sets out IRAS’s position on transfer pricing adjustments.

The Guide contains illustrations on the application of allowable transfer pricing methodologies and includes templates for advance pricing agreement and mutual administrative procedure applications.