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100%;-webkit-text-size-adjust: 100%;" width="100%" class="mcnTextContentContainer"> <tbody><tr> <td valign="top" class="mcnTextContent" style="padding-top: 0;padding-right: 18px;padding-bottom: 9px;padding-left: 18px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #000000;font-family: Helvetica;font-size: 15px;line-height: 150%;text-align: left;"> <div style="text-align: right;"><font color="#000000" face="verdana, geneva, sans-serif"><span style="font-size:12px"> <meta itemprop="datePublished" content="2016-11-16"> <meta itemprop="datePublished" content="2016-11-16"/>Volume 9 Issue 21 | 16 November 2016</span></font></div> </td> </tr> </tbody></table> <!-- [if mso]> </td> <![endif] --> <!-- [if mso]> </tr> </table> <![endif] --> </td> </tr> </tbody> </table></td> </tr> </tbody></table> <!-- // END HEADER --> </td> </tr> <tr> <td align="center" valign="top" style="mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- BEGIN BODY // --> <table border="0" cellpadding="0" cellspacing="0" width="600" id="templateBody" style="border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;min-width: 100%;background-color: #FFFFFF;border-top: 0;border-bottom: 0;"> <tbody><tr> <td valign="top" class="bodyContainer" style="mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><table border="0" cellpadding="0" cellspacing="0" width="100%" class="mcnTextBlock" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody class="mcnTextBlockOuter"> <tr> <td valign="top" class="mcnTextBlockInner" style="padding-top: 9px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- [if mso]> <table align="left" border="0" cellspacing="0" cellpadding="0" width="100%" style="width:100%;"> <tr> <![endif] --> <!-- [if mso]> <td valign="top" width="600" style="width:600px;"> <![endif] --> <table align="left" border="0" cellpadding="0" cellspacing="0" style="max-width: 100%;min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" width="100%" class="mcnTextContentContainer"> <tbody><tr> <td valign="top" class="mcnTextContent" style="padding: 0px 18px 9px;font-family: Verdana, Geneva, sans-serif;font-size: 12px;line-height: 150%;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #000000;text-align: left;"> <span style="color:#1646A8"><span style="font-size:14px"><span style="font-family:verdana,geneva,sans-serif"><strong itemprop="name" itemprop="name">Singapore increases focus on transfer pricing</strong></span></span></span><br/> <br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Transfer pricing regulations are gaining momentum among big and small economies around the globe and Singapore is no exception. Last year, Singapore introduced revised transfer pricing guidelines to provide guidance on transfer pricing provisions and to ensure better compliance. Notably, the globally prevalent compulsory  contemporaneous documentation requirements were also introduced in Singapore by these guidelines with some exemptions for small taxpayers.<br/> <br/> This year, the authorities have introduced Country-by-Country (CbC) reporting requirements for Singapore domiciled multinationals, in line with transfer pricing documentation recommendations under Action 13 of G20/Organisation for Economic Co-operation and Development s (OECD) Base Erosion and Profit Shifting (BEPS) Project.</span></span><br/> <br/> <span style="color:#1598D5"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><strong>New disclosure requirement and its applicability </strong></span></span></span><br/> <br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Recently, the Inland Revenue Authority of Singapore (IRAS) introduced new disclosure requirements for reporting of related party transactions. The given disclosure requirement (RPT Form) will be applicable from </span></span><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">financial year</span></span><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"> 2017 (i.e. </span></span><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">assessment year</span></span><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"> 2018) onwards, whereby taxpayers are now required to file the RPT Form along with their yearly income tax return (Form C).<br/> <br/> The new disclosure requirements are applicable to companies that have aggregate related party transactions above SGD 15 million in a financial year. In this regards, the guidelines require the taxpayer to consider <strong>both local as well as cross-border related party transactions</strong> while deriving the aggregate of the related party transactions.<br/> <br/> While computing aggregate related party transactions, taxpayers need to consider all amounts received/receivable from related parties and all amounts paid/payable to related parties as reported in the companies audited accounts for the year. Apart from this, for aggregation, year-end balances of loans and non-trade amounts due to/from related parties also need to be considered. However, compensations paid to key management personnel and dividends need to be excluded.</span></span><br/> <br/> <span style="color:#1598D5"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><strong>Ultimate holding company details</strong></span></span></span><br/> <br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">The disclosure form requires mandatory reporting of the name along with the country code of the ultimate holding company of the taxpayer. </span></span><br/> <br/> <span style="color:#1598D5"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><strong>Transaction wise disclosure</strong></span></span></span><br/> <br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">All transactions with related parties during the year should be disclosed under the five categories below:</span></span> <ul style="font-size:12px"> <li style="-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Sale and purchase of goods;</span></span></li> <li style="-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Services income and expenses;</span></span></li> <li style="-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Royalty, licence fee and other income or expenses for intellectual property rights;</span></span></li> <li style="-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Interest income and expenses; and</span></span></li> <li style="-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Other income and expenses.</span></span></li> </ul> <span style="color:#1598D5"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><strong>Additional disclosure for purchase and sale transactions</strong></span></span></span><br/> <br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">For cross-border related party transactions pertaining to the purchase or sale of goods/services, the taxpayer needs to separately disclose its entity details including the country code, relationship and amount of transactions for the top five foreign related parties in terms of the value of such transactions.</span></span><br/> <br/> <span style="color:#1598D5"><strong><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Related party definition</span></span></strong></span><br/> <br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Section 34D of Singapore Income Tax Act, 1948 (Act) provides for the applicability of transfer pricing provisions in the case of transactions between related parties as defined </span></span><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">under</span></span><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"> sub-section 16 of section 13 of the Act.<br/> <br/> However, the guidelines issued for related party disclosure specifically provide that reporting of related party transactions will be consistent with the transactions disclosed in companies audited accounts, prepared according to the applicable accounting standards and the taxpayer is not required to determine whether a particular related party falls within the provisions of section 34D of the Singapore Income Tax Act.</span></span><br/> <br/> <span style="color:#1598D5"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><strong>Penalty for non-compliance</strong></span></span></span><br/> <br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">The RPT Form will be considered a part of the income tax return (Form C). Thus, all penalties of non-filing or incorrect filing of income tax returns will be applicable for non-compliance with the above disclosure requirements.</span></span><br/> <br/> <span style="color:#1598D5"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><strong>Transfer pricing documentation </strong></span></span></span><br/> <br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Companies are not required to submit their transfer pricing documentation together with the RPT Form or Income Tax Return. However, they are required to prepare and maintain contemporaneous transfer pricing documentation in line with the transfer pricing guidelines. Such documentation needs to be submitted to the IRAS within 30 days of the request.</span></span> </td> </tr> </tbody></table> <!-- [if mso]> </td> <![endif] --> <!-- [if mso]> </tr> </table> <![endif] --> </td> </tr> </tbody> </table><table border="0" cellpadding="0" cellspacing="0" width="100%" class="mcnBoxedTextBlock" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- [if gte mso 9]> <table align="center" border="0" cellspacing="0" cellpadding="0" width="100%"> <![endif] --> <tbody class="mcnBoxedTextBlockOuter"> <tr> <td valign="top" class="mcnBoxedTextBlockInner" style="mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- [if gte mso 9]> <td align="center" valign="top" "> <![endif] --> <table align="left" border="0" cellpadding="0" cellspacing="0" width="100%" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" class="mcnBoxedTextContentContainer"> <tbody><tr> <td style="padding-top: 9px;padding-left: 18px;padding-bottom: 9px;padding-right: 18px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <table border="0" cellpadding="18" cellspacing="0" class="mcnTextContentContainer" width="100%" style="min-width: 100% !important;border: 2px solid #1598D5;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td valign="top" class="mcnTextContent" style="color: #000000;font-family: Verdana, Geneva, sans-serif;font-size: 12px;font-weight: normal;line-height: 150%;text-align: center;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <div style="text-align: left;"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><span style="color:#1598D5"><strong itemprop="articleSection">SKP's comments</strong></span></span></span><br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">The new disclosure requirements will equip the Singapore IRAS with relevant information to better assess companies transfer pricing risks and improve the execution of transfer pricing provisions. In this changing tax environment across the world, it would be in the interest of the taxpayers to assess their transfer pricing positions, identify risks and ensure timely compliance with the Singapore transfer pricing regulations. The critical element is to maintain contemporaneous documentation, as it is only the document that will aid the taxpayer in justifying his pricing policies and avoid tax risks and litigation in the long run.</span></span></div> </td> </tr> </tbody></table> </td> </tr> </tbody></table> <!-- [if gte mso 9]> </td> <![endif] --> <!-- [if gte mso 9]> </tr> </table> <![endif] --> </td> </tr> </tbody> </table></td> </tr> </tbody></table> <!-- // END BODY --> </td> </tr> <tr> <td align="center" valign="top" style="mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- BEGIN FOOTER // --> <table border="0" cellpadding="0" cellspacing="0" width="600" id="templateFooter" style="border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;min-width: 100%;background-color: #FFFFFF;border-top: 0;border-bottom: 0;"> <tbody><tr> <td valign="top" class="footerContainer" style="padding-bottom: 9px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><table border="0" cellpadding="0" cellspacing="0" width="100%" class="mcnBoxedTextBlock" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- [if gte mso 9]> <table align="center" border="0" cellspacing="0" cellpadding="0" width="100%"> <![endif] --> <tbody class="mcnBoxedTextBlockOuter"> <tr> <td valign="top" class="mcnBoxedTextBlockInner" style="mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- [if gte mso 9]> <td align="center" valign="top" "> <![endif] --> <table align="left" border="0" cellpadding="0" cellspacing="0" width="100%" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" class="mcnBoxedTextContentContainer"> <tbody><tr> <td style="padding-top: 9px;padding-left: 18px;padding-bottom: 9px;padding-right: 18px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <table border="0" cellpadding="18" cellspacing="0" class="mcnTextContentContainer" width="100%" style="min-width: 100% !important;background-color: #1598D5;border: 8px none;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td valign="top" class="mcnTextContent" style="font-family: Verdana, Geneva, sans-serif;font-size: 12px;font-weight: normal;line-height: 150%;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #333333;text-align: left;"> <div><span style="font-family:verdana,geneva,sans-serif"><span style="font-size:12px"><span style="color:#FFFFFF"> <span itemprop="author" itemscope="" itemtype="http://schema.org/Person"> <span itemprop="author" itemscope itemtype="http://schema.org/Person"><span itemprop="name" itemprop="name">SKP</span></span></span><br/> 19 Adi Marzban Path | Ballard Estate | Fort | Mumbai 400 001 | India<br/> +91 22 6730 9000 | </span><a href="mailto:skp.tax@skpgroup.com?subject=Tax%20Alert%3A%20Singapore%20increases%20focus%20on%20transfer%20pricing%20" target="_blank" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #000000;font-weight: normal;text-decoration: none;"><span style="color:#FFFFFF">skp.tax@skpgroup.com</span></a><span style="color:#FFFFFF"> | </span><a href="http://www.skpgroup.com" target="_blank" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #000000;font-weight: normal;text-decoration: none;"><span style="color:#FFFFFF">www.skpgroup.com</span></a></span></span><br/> <div style="text-align: center;"><span style="color:#FFFFFF"><span 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100%;-webkit-text-size-adjust: 100%;" class="mcnFollowContentItemContainer"> <table border="0" cellpadding="0" cellspacing="0" width="100%" class="mcnFollowContentItem" style="border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td align="left" valign="middle" style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 9px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <table align="left" border="0" cellpadding="0" cellspacing="0" width="" style="border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td align="center" valign="middle" width="24" class="mcnFollowIconContent" style="mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <a href="https://www.facebook.com/SKPGroupIndia" target="_blank" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><img src="https://cdn-images.mailchimp.com/icons/social-block-v2/color-facebook-48.png" style="display: block;border: 0;outline: none;text-decoration: none;-ms-interpolation-mode: bicubic;" height="24" width="24" class=""/></a> </td> <td align="left" valign="middle" class="mcnFollowTextContent" style="padding-left: 5px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <a href="https://www.facebook.com/SKPGroupIndia" target="" style="font-family: Verdana, Geneva, sans-serif;font-size: 11px;text-decoration: none;color: #222222;font-weight: normal;line-height: 100%;text-align: center;word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">Facebook</a> </td> </tr> </tbody></table> </td> </tr> </tbody></table> </td> </tr> </tbody></table> <!-- [if mso]> </td> <![endif] --> <!-- [if mso]> <td align="center" valign="top"> <![endif] --> <table align="left" border="0" cellpadding="0" cellspacing="0" style="display: inline;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td valign="top" style="padding-right: 10px;padding-bottom: 9px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" class="mcnFollowContentItemContainer"> <table border="0" cellpadding="0" cellspacing="0" width="100%" class="mcnFollowContentItem" style="border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td align="left" valign="middle" style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 9px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <table align="left" border="0" cellpadding="0" cellspacing="0" width="" style="border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td align="center" valign="middle" width="24" class="mcnFollowIconContent" style="mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <a href="https://www.youtube.com/channel/UCkMbTFPOPb9c1K_BYswNJmw " target="_blank" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><img src="https://cdn-images.mailchimp.com/icons/social-block-v2/color-youtube-48.png" style="display: block;border: 0;outline: none;text-decoration: none;-ms-interpolation-mode: bicubic;" height="24" width="24" class=""/></a> </td> <td align="left" valign="middle" class="mcnFollowTextContent" style="padding-left: 5px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <a href="https://www.youtube.com/channel/UCkMbTFPOPb9c1K_BYswNJmw " target="" style="font-family: Verdana, Geneva, sans-serif;font-size: 11px;text-decoration: none;color: #222222;font-weight: normal;line-height: 100%;text-align: center;word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">YouTube</a> </td> </tr> </tbody></table> </td> </tr> </tbody></table> </td> </tr> </tbody></table> <!-- [if mso]> </td> <![endif] --> <!-- [if mso]> <td align="center" valign="top"> <![endif] --> <table align="left" border="0" cellpadding="0" cellspacing="0" style="display: inline;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td valign="top" style="padding-right: 0;padding-bottom: 9px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" class="mcnFollowContentItemContainer"> <table border="0" cellpadding="0" cellspacing="0" width="100%" class="mcnFollowContentItem" style="border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td align="left" valign="middle" style="padding-top: 5px;padding-right: 10px;padding-bottom: 5px;padding-left: 9px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <table align="left" border="0" cellpadding="0" cellspacing="0" width="" style="border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td align="center" valign="middle" width="24" class="mcnFollowIconContent" style="mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <a href="https://plus.google.com/+SKPGroup" target="_blank" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><img src="https://cdn-images.mailchimp.com/icons/social-block-v2/color-googleplus-48.png" style="display: block;border: 0;outline: none;text-decoration: none;-ms-interpolation-mode: bicubic;" height="24" width="24" class=""/></a> </td> <td align="left" valign="middle" class="mcnFollowTextContent" style="padding-left: 5px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <a href="https://plus.google.com/+SKPGroup" target="" style="font-family: Verdana, Geneva, sans-serif;font-size: 11px;text-decoration: none;color: #222222;font-weight: normal;line-height: 100%;text-align: center;word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">Google+</a> </td> </tr> </tbody></table> </td> </tr> </tbody></table> </td> </tr> </tbody></table> <!-- [if mso]> </td> <![endif] --> <!-- [if mso]> </tr> </table> <![endif] --> </td> </tr> </tbody></table> </td> </tr> </tbody></table> </td> </tr> </tbody></table> </td> </tr> </tbody> </table><table border="0" cellpadding="0" cellspacing="0" width="100%" class="mcnBoxedTextBlock" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- [if gte mso 9]> <table align="center" border="0" cellspacing="0" cellpadding="0" width="100%"> <![endif] --> <tbody class="mcnBoxedTextBlockOuter"> <tr> <td valign="top" class="mcnBoxedTextBlockInner" style="mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- [if gte mso 9]> <td align="center" valign="top" "> <![endif] --> <table align="left" border="0" cellpadding="0" cellspacing="0" width="100%" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" class="mcnBoxedTextContentContainer"> <tbody><tr> <td style="padding-top: 9px;padding-left: 18px;padding-bottom: 9px;padding-right: 18px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <table border="0" cellpadding="18" cellspacing="0" class="mcnTextContentContainer" width="100%" style="min-width: 100% !important;border: 1px solid #666666;background-color: #EEEEEE;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td valign="top" class="mcnTextContent" style="line-height: 125%;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #333333;font-family: Helvetica;font-size: 11px;text-align: left;"> <div style="text-align: left;"><span style="font-size:11px"><span style="font-family:verdana,geneva,sans-serif"><span style="color:#000000"><strong>DISCLAIMER</strong></span><br/> <span style="color:#000000">This alert contains general information which is provided on an  as is basis without warranties of any kind, express or implied and is not intended to address any particular situation. The information contained herein may not be comprehensive and should not be construed as specific advice or opinion. This alert should not be substituted for any professional advice or service, and it should not be acted or relied upon or used as a basis for any decision or action that may affect you or your business. It is also expressly clarified that this alert is not intended to be a form of solicitation or invitation or advertisement to create any adviser-client relationship.<br/> <br/> Whilst every effort has been made to ensure the accuracy of the information contained in this alert, the same cannot be guaranteed. We accept no liability or responsibility to any person for any loss or damage incurred by relying on the information contained in this alert.<br/> <br/> SKP Business Consulting LLP is a member firm of the "Nexia International" network. Nexia International Limited does not deliver services in its own name or otherwise. Nexia International Limited and the member firms of the Nexia International network (including those members which trade under a name which includes the word NEXIA) are not part of a worldwide partnership. For the full Nexia International disclaimer, please visit </span><a href="http://www.skpgroup.com" target="_blank" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #000000;font-weight: normal;text-decoration: none;"><span style="color:#000000"><u>www.skpgroup.com</u></span></a><span style="color:#000000">.<br/> <br/> 2016 <span itemprop="publisher" itemscope="" itemtype="http://schema.org/Organization"> <span itemprop="publisher" itemscope itemtype="http://schema.org/Organization"><span itemprop="name" itemprop="name">SKP Business Consulting LLP</span></span></span>. All rights reserved.</span></span></span></div> </td> </tr> </tbody></table> </td> </tr> </tbody></table> <!-- [if gte mso 9]> </td> <![endif] --> <!-- [if gte mso 9]> </tr> </table> <![endif] --> </td> </tr> </tbody> </table></td> </tr> </tbody></table> <!-- // END FOOTER --> </td> </tr> </tbody></table> <!-- // END TEMPLATE --> </td> </tr> </tbody></table> <meta itemprop="url" content="http://www.skpgroup.com/data/mailer/skp_tax_alert_volume_9_issue_21_Volume_9_Issue_21.html"></center> <center> </center> </body></html>