Financial Services Tax Bulletin - Archive

Financial Services Tax Bulletin provides updates and analyses of regulatory and other developments relating to corporate tax in Singapore.

Previous Issues

May 2009

On 12 May 2009, the Monetary Authority of Singapore (MAS) issued two circulars that spell out the enhancements to the credit facilities syndication and commodity trading tax incentives. It also clarified the tax treatment of gain on sale of foreign equity securities by qualifying financial institutions. This Bulletin discusses these developments and their impact.











October 2008

The Inland Revenue Authority of Singapore (IRAS) have recently issued a circular on transfer pricing consultation, setting out how they intend to review taxpayers’ compliance with the arm’s length standard. They have also provided additional guidance on advance pricing arrangements. These developments, together with their participation at a regional transfer pricing conference and the release of a draft circular on loans and services, represent a step-up by the IRAS in ensuring that taxpayers observe internationally accepted transfer pricing principles when conducting business with related parties.We are pleased to present you with the October issue of Financial Services Tax Bulletin, which summarises these developments and considers their impact on the financial services sector in Singapore. Read on to find out how they affect your business.

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January 2007

The Organisation for Economic Co-operation and Development (OECD) Committee on Fiscal Affairs has published new versions of Parts I, II and III of its Report on the Attribution of Profits to Permanent Establishments in late December 2006. This Bulletin discusses the changes made to the earlier versions of these documents as well as the implications to financial institutions arising from the OECD efforts in achieving greater international consensus on interpretation of Article 7 (Business Profits) of the OECD Model Convention.