Latest Updates

The above webpage has been updated to include:

• References to the Transfer Pricing Guidelines (7th Edition).
• Other amendments to reflect the updates and amendments made in the Transfer Pricing Guidelines (7th Edition).

The main updates and amendments to the e-Tax Guide are:

• Added a frequently asked question regarding the making of working capital adjustment in section 5.
• Updated section 6 to include:
  • New exemption rules for related party domestic loans entered into on or after 1 Jan 2025.
  • Increase in the threshold for exemption from TP documentation for certain transactions from S$1 million to S$2 million.
  • Clarification on stating the date of completing a simplified TP documentation in the
  • New FAQ regarding TP documentation for long term loans and provision of information to supplement an existing TP documentation.
• Updated the TPA process in section 7.
• Amended section 8 to:
  • Enhance the example in paragraph 8.8.
  • Include guidance on transfer pricing adjustment relating to capital transactions.
• Updated section 9 regarding the circumstances under which partial or full remission of the surcharge under Section 34E of the ITA will be given.
• Updated section 11 and Annex B2 to remove the requirement for pre-filing meeting for MAP application.
• Updated the guidance on strict pass-through costs in section 14.
• Updated section 15 to include:
  • New rules for related party domestic loans entered into on or after 1 Jan 2025.
  • Guidance on base reference rates with IBOR reform.
• Inserted a new section 18 to cover government assistance.

• Paragraph 5.5(f) – Updated to clarify that the remitted income (net of qualifying expenses) must be passed through to the S-REIT in the form of dividends/trust distributions.

• Paragraph 8.1 – Updated mode of submission.

• Annex 4 – Updated paragraph 7 of the instruction and the declaration on section 5 of the Section 13(12) Declaration Form.
  

• Amended paragraph 3.2.1 to update the appointment end-date of the CRC operator
• Amended paragraph 5.9.7(d) and Appendix 5 to update the CRC fee and illustration on the CRC fee computation
• Amended paragraph 6.5 to provide clarity on the re-appointment criteria for a CRA/IR
• Inserted paragraph 6.10 to provide clarity on the period of re-appointment for a CRA/IR
• Other editorial changes

The e-Tax Guide has been updated with the following changes: