Tax Treatment for Rental of Business Premises

Transfer Pricing Seminar 2019

Location: NTUC Centre | Level 9, Room 903 | 1 Marina Boulevard | Singapore 018989
Start Date:

05/07/2019 14:00

End Date:

05/07/2019 17:00

Tax Treatment for Rental of Business Premises

With effect from the Year of Assessment 2019, the preparation of contemporaneous Transfer Pricing Documentation (TPD) has become mandatory in Singapore. In addition, TPD needs to take into account the other changes legislated by the Income Tax (Amendment) Act 2017, such as the revised definition of the arm’s length standard. Failure to prepare robust transfer pricing documentation and analysis can result in a penalty of S$10,000, as well as a surcharge of 5% of the tax adjustment. These changes reflect the Inland Revenue Authority of Singapore’s firm intent on enforcing its new TPD requirements.


  • Who should prepare the TPD?  The conditions that warrant the preparation for TPD are intricate.  Getting it wrong can and will lead to the penalty and surcharge being levied;
  • When should the TPD be prepared? 
  • What should be prepared?  A basic transfer pricing analysis to support the arm’s length nature of the related party transactions?  A Local File?  Or a full three-tier documentation? 
  • How can transfer pricing risks be mitigated to prevent the 5% surcharge from being levied? 

To provide businesses with greater clarity on these new statutory requirements and a framework for managing your transfer pricing documentation process, as well as the increasing instances of transfer pricing audits, Crowe Singapore organized a complimentary seminar on Friday 5 July 2019 at the NTUC Centre, led by our Director for TP Services, Dr Sowmya Varadharajan. 

Some of the topics covered were as follows:

  • Overview of Section 34F and key changes
  • Understanding the new TP rules
  • Mandatory TP documentation
  • Case studies and examples: Our experience assisting clients with TP audits and queries.