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Singapore Introduces Mandatory Transfer Pricing Documentation
With effect from the year of assessment 2019, it is mandatory for businesses to prepare transfer pricing documentation if certain conditions are met. A new penalty regime has also been instituted for non-compliance with the TP documentation requirements. 
08/08/2018
Scaffolding at sunset

Crowe Singapore reports that an entity will soon be required to prepare transfer pricing documentation if either of the following conditions are met: 

i) The annual gross revenue derived from its trade or business for the basis period concerned exceeds S$10 million dollars; or

ii) It was required to prepare TP documentation under Section 34F of the Act for the immediate preceding basis period concerned.