IRAS e-Tax Guide on GST Transfer Pricing Adjustments

The Inland Revenue Authority of Singapore published an e-Tax Guide with the objective of clarifying the goods and services tax (“GST”) treatment for adjustments made to the transfer prices of transactions entered into between related parties. The e-Tax Guide sets out a general requirement for a corresponding GST adjustment to be made where a transfer pricing adjustment is made for income tax purposes, subject to certain exceptions. In this alert, we review the salient aspects of the e-Tax Guide.