Tax Newsbites

Welcome to the January 2017 issue of Tax Newsbites. This publication aims to share bite-sized information and updates from Singapore and around the region.

Some of the updates in the period 1 December 2016 to 13 January 2017 include:

  • Singapore and India have concluded a protocol to amend the tax treaty.
  • The Income Tax (Amendment No. 3) Act 2016 was published on 29 December 2016.
  • The Inland Revenue Authority of Singapore (IRAS)  issued a revised circular on "Transfer Pricing Guidelines (Fourth edition)", which included a safe harbour margin which taxpayers can apply to each related party loan not exceeding S$15 million.
  • The Indonesian Minister of Finance issued regulations on new Transfer Pricing Documentation requirements effective since 30 December 2016.
  • Malaysia's Income Tax Act has been amended to add country-by-country reporting rules, effective from 1 January 2017.

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Tax Newsbites

Tax updates for the period 1 December 2016 to 13 January 2017