As Transfer Pricing (TP) continues to be at the frontline of tax issues that companies with related party transactions face, it is vital to have a solid grasp of TP fundamentals. Functional analysis, which is one aspect of TP fundamentals, was the key area that participants delved into at a recent Tax Excellence Decoded session organised by Singapore Institute of Accredited Tax Professionals (SIATP).
Equally important as TP fundamentals are the past tax cases, and many accredited tax professionals grabbed the opportunity to hear from Allen Tan, Principal, and Ng Chun Ying, Local Principal, from Baker & McKenzie.Wong & Leow, as they shed light on the various case laws arising from the tax cases last year. From deductibility to exchange of information and taxation of employment income, an array of issues was analysed and discussed.
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