The Inland Revenue Authority of Singapore (IRAS) updated its Transfer Pricing guidance on 3 January 2023, including updated guidance on indicative margins for related party loans. The indicative margin is an alternative to performing a detailed transfer pricing analysis to determine armʼs length interest rates and is not mandatory. The update includes the indicative margin applicable to Risk-Free Rates (RFRs) as base reference rates for related party loans not exceeding SGD 15 million that are obtained or provided during the period 1 January 2023 to 31 December 2023, which is set at +230 bps (2.30%). This is up from +180...