From Australia to the USA, this is your guide to recent developments around the world
In 2009 Singapore formally adopted the OECD arm’s-length principle for all transactions between parties under common control or where one party controls the other when Income Tax Act (ITA) s 34D was legislated. Section 34D(1) reads: ‘Where 2 persons are related parties and conditions are made or imposed between the 2 persons in their commercial or financial relations which differ from those which would be made if they were not related parties then any profits which would but for those conditions have accrued to one of the persons and by reason of those conditions have not so accrued may be included in the profits of that person and taxed in accordance with the provisions of this Act.’ As the Income Tax Act does not provide...
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From Australia to the USA, this is your guide to recent developments around the world
In 2009 Singapore formally adopted the OECD arm’s-length principle for all transactions between parties under common control or where one party controls the other when Income Tax Act (ITA) s 34D was legislated. Section 34D(1) reads: ‘Where 2 persons are related parties and conditions are made or imposed between the 2 persons in their commercial or financial relations which differ from those which would be made if they were not related parties then any profits which would but for those conditions have accrued to one of the persons and by reason of those conditions have not so accrued may be included in the profits of that person and taxed in accordance with the provisions of this Act.’ As the Income Tax Act does not provide...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
