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Intercompany Cost Sharing Agreement

Intercompany Cost Sharing Agreement Template for Singapore

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Key Requirements PROMPT example:

Intercompany Cost Sharing Agreement

"Need an Intercompany Cost Sharing Agreement for our Singapore headquarters and three APAC subsidiaries to share IT infrastructure costs, including cloud services and cybersecurity expenses, with implementation planned for January 2025."

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An Intercompany Cost Sharing Agreement becomes necessary when multiple entities within a corporate group share resources, services, or facilities and need to allocate the associated costs fairly and efficiently. This document, governed by Singapore law, establishes transparent methodologies for cost allocation while ensuring compliance with transfer pricing regulations and tax requirements. It's particularly crucial for multinational corporations operating in Singapore's business environment, where regulatory scrutiny of related-party transactions is increasing. The agreement helps demonstrate to tax authorities that intercompany charges are calculated on an arm's length basis and supports the group's transfer pricing position.
Suggested Sections

1. Parties: Identification of participating group entities, including registration details and addresses

2. Background: Context of the agreement, group structure, and purpose of cost sharing arrangement

3. Definitions: Key terms used throughout the agreement, including Shared Costs, Cost Pool, Allocation Keys

4. Scope of Cost Sharing: Detailed description of services and costs covered under the agreement

5. Cost Allocation Methodology: Specific methods for calculating and allocating costs among participants

6. Payment Terms: Timing, currency, and method of payments between parties

7. Documentation Requirements: Record-keeping obligations and transfer pricing documentation requirements

8. Term and Termination: Duration of agreement and termination provisions

9. Governing Law: Specification of Singapore law as governing law

Optional Sections

1. Intellectual Property Rights: Provisions regarding IP ownership and licensing when shared costs include development of intellectual property

2. Tax Compliance: Specific tax-related obligations and compliance requirements for complex cross-border arrangements

3. Dispute Resolution: Specific procedures for resolving disagreements when standard governing law provisions need enhancement

4. Exit Provisions: Detailed procedures for participant withdrawal in complex group structures

Suggested Schedules

1. Schedule 1: Participating Entities: Complete list of participating group entities and their roles

2. Schedule 2: Cost Pool Components: Detailed breakdown of costs included in the sharing arrangement

3. Schedule 3: Allocation Keys: Specific allocation methodologies and calculations

4. Schedule 4: Service Level Requirements: Performance metrics and service standards if applicable

5. Appendix A: Transfer Pricing Documentation: Templates and requirements for TP documentation

6. Appendix B: Financial Reporting Templates: Standardized formats for cost reporting and reconciliation

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

























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Industries

Income Tax Act (Cap. 134): Primary legislation governing taxation in Singapore, including provisions for corporate taxation and transfer pricing regulations

Singapore Transfer Pricing Guidelines: Detailed guidelines issued by IRAS providing guidance on transfer pricing documentation and compliance requirements

Income Tax (Transfer Pricing Documentation) Rules 2018: Specific rules governing transfer pricing documentation requirements and compliance standards

Companies Act (Cap. 50): Principal legislation governing corporate entities in Singapore, including requirements for intercompany transactions

Singapore Companies (Amendment) Act: Updates and amendments to the Companies Act affecting corporate governance and compliance

Singapore Code of Corporate Governance: Guidelines for corporate governance practices and principles for Singapore companies

Contract Law (Common Law): Common law principles governing contract formation, execution, and enforcement in Singapore

Electronic Transactions Act: Legislation governing electronic contracts and digital signatures in Singapore

Singapore Financial Reporting Standards (SFRS): Accounting standards governing financial reporting and disclosure requirements

SFRS(I) 1-24 Related Party Disclosures: Specific standard governing disclosure requirements for related party transactions

IRAS e-Tax Guidelines: Electronic tax guidelines issued by the Inland Revenue Authority of Singapore

Competition Act (Cap. 50B): Legislation ensuring fair market practices and preventing anti-competitive behavior

Section 34D of Income Tax Act: Specific section dealing with transfer pricing rules and arm's length principle

GST Act: Goods and Services Tax legislation affecting intercompany transactions and cost sharing arrangements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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