Tax
You will find insights on various topics by our Mazars tax professionals. For more information, please contact Gene Kwee, our Head of Tax.
How to avoid tax traps when relocating to Singapore?
Relocation is a factor that can drive M&A transactions. There may be many non-tax reasons for enterprises to relocate, but there will always be tax consequences to consider. In this article, we outline the possible tax traps and opportunities for this type of activity.
Making sense of tax systems in a digitalised world
How do we develop a global tax system that takes into account business innovation and the digitalised economy, yet is fair to all stakeholders? It’s a debate world governments continue to grapple with as they consider radical reforms to adapt century-old tax rules to the 21st-century digital economy.
Singapore Budget 2021 - Emerging stronger together in a post-COVID-19 world
2020 was a year like no other. Singapore's show of resilience, solidarity, and fortitude paid off: we were able to reopen the economy successfully. While the nation is on its way to economic recovery, the fight against COVID-19 is not over. To thrive in a post-pandemic world, we will have to be agile and resourceful, as a small open economy.
The impact of Covid-19 on transfer pricing
The Covid-19 pandemic has far-reaching consequences, and will have serious implications on transfer pricing for many multinational enterprises (“MNEs”). This is particularly challenging for businesses to manage due to the current lack of guidance from the OECD.
Impact of Covid-19 and Covid-19 support measures on Transfer Pricing
The Inland Revenue Authority of Singapore (“IRAS”) has regularly been publishing updates on tax considerations related to the Covid-19 measures. Recently, the IRAS had published some which are specifically related to Transfer Pricing. Many taxpayers have been affected by the ongoing pandemic in terms of their business operations or revenues/profitability and how would such impact the interpretation of current or past data in regards to the Transfer Pricing Documentation for past years and or for Financial Year 2020, the appropriate consideration of testing of the related party transaction and the impact on Advanced Pricing Agreement etc.
A summary of the Fortitude Budget 2020
On 26 May 2020, Deputy Prime Minister and Minister for Finance Heng Swee Keat announced the “Fortitude” Budget.
The Coronavirus outbreak and its Transfer Pricing implications on Companies
The COVID-19 pandemic which was first reported in China in the latter half of December 2019 has now become a constantly evolving global health crisis and is creating several complex challenges for individuals and businesses around the world. As the world governments strive to take unprecedented actions and measures to prevent the spread of the virus, companies of all scale (whether large, medium or small) are facing an uphill challenge to ensure a smooth functioning of their daily business operations and maintain healthy or at least, a break-even profitability in order to recover their fixed costs.
In such challenging times and changing business environments, businesses are likely to face key tax including Transfer Pricing challenges. Accordingly, it becomes imperative for companies to develop effective and defensible strategies to protect their employees and ensure the stability of their business operations during this crisis.
In such challenging times and changing business environments, businesses are likely to face key tax including Transfer Pricing challenges. Accordingly, it becomes imperative for companies to develop effective and defensible strategies to protect their employees and ensure the stability of their business operations during this crisis.
Transfer Pricing: will multinational companies be able to apply the arm's length principle in 2020?
The Covid-19 pandemic has caused states to close entire sectors of the economy for the first time. As the virus fuels economic crises around the world, serious questions have arisen over how transfer pricing policies of multinational companies will be affected.
Solidarity Budget 2020 aimed at helping Singapore amid uncertainty
In the wake of the COVID-19 outbreak, the Singapore Government has implemented various measures to assist the enterprises in Singapore as well as providing for individuals impacted in the following budgets:
BEPS 2.0 – Advancing to the next level
The Base Erosion and Profit Shifting (BEPS) 2.0 programme was introduced in May 2019. The underlying objective of this ambitious plan is to achieve greater tax certainty and transparency and avoid any potential tax disputes, thereby, ensuring tax certainty, efficacy and transparency for all the companies operating across the globe.
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