On 6 January 2015, the Inland Revenue Authority of Singapore (IRAS) published the second edition of its transfer pricing (TP) guidelines. The main change is the expanded guidance on TP documentation requirements, including on contemporaneous documentation. The requirements are summarized as follows: Contemporaneous Documentation Under the guidelines, contemporaneous TP documentation refers to documentation and information that taxpayers have relied upon to determine the transfer price prior to or at the time of undertaking the transactions. For ease of compliance, the IRAS will also accept as contemporaneous TP documentation any documentation prepared at any time no later than the time of...