Advisory

Definition of Related Parties in Transfer Pricing Under Singapore’s corporate tax laws, the definition of “related parties” is provided under Section 2(1) 【1*】of the Singapore Income Tax Act (SITA) as follows: “A related party, in relation to a person【2*】, means any other person who, directly or indirectly, controls that person, or is controlled, directly or indirectly, by that person, or where he and that other person, directly or indirectly, are under the control of a common person” Below is the example of direct control, indirect control, and common control: The SITA does not specify any control or ownership thresholds for […]