EY You and the Taxman

You and the Taxman

Issue 1, 2015

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The most striking feature of Singapore’s revised 2015 transfer pricing guidelines is the requirement for taxpayers to maintain contemporaneous transfer pricing documentation. Also, ahead of Budget 2015, we look at where Singapore’s tax regime can be enhanced.

EY - Singapore releases revised transfer pricing guidelines

Singapore releases revised transfer pricing guidelines

Revised Singapore transfer pricing guidelines issued in January 2015 provide greater clarity and transparency to taxpayers with detailed guidance on the requirement for taxpayers to maintain contemporaneous transfer pricing documentation.

EY - Suite of incentives to boost local hotel sector

Suite of incentives to boost local hotel sector

Incentives by the Singapore Tourism Board and the Government are important enablers to create a vibrant and thriving hotel sector, which is a key pillar of support to Singapore’s tourism industry.

EY - Shipping firms face tax, accounting challenges

Shipping firms face tax, accounting challenges

Ship-pooling alliances offer container-ship operators cost savings and economies of scale. However, they also need to be aware of tax and accounting considerations when entering into these arrangements.

EY - What future holds for tax revenue collection

What future holds for tax revenue collection

Singapore continues to collect record tax revenue, but the rate of growth has been declining. A future key source of additional tax revenue might have to come from GST.

EY - Helping SMEs take a bigger leap?

Helping SMEs take a bigger leap?

Government support is critical in creating an environment for small and medium-sized enterprises (SMEs) to thrive. An SME-based policy holds the key to catalyse the growth of SMEs.

EY - Highlights of the 2015 Malaysian Budget

Highlights of the 2015 Malaysian Budget

The 2015 Malaysian Budget introduced several changes including the expanded scope of supplies not subject to GST, corporate tax incentives for selected industries and expenditure, increased statute of limitation for transfer pricing adjustments and increase in real property gains retention sum.

EY - UK moves ahead with diverted profits tax

UK moves ahead with diverted profits tax

The UK’s introduction of diverted profits tax will result in increased compliance and will have implications on Singapore companies with significant sales in the UK.

EY - Life sciences: re-envisioning the tax function operating model for Asia-Pacific

Life sciences: re-envisioning the tax function operating model for Asia-Pacific

Rapid growth and operational realignment is impacting the way life sciences companies think about their tax function operating model in Asia-Pacific.

EY - Tax deductibility of interest

Tax deductibility of interest

In the case of BFC v Comptroller of Income Tax, the question of whether discounts and redemption premiums on bonds was “interest” took centre stage in the Court of Appeal.