New E-Tax Guide Singapore for Country by Country Reporting
Insights • New E-Tax Guide Singapore for Country by Country Reporting
Insights • New E-Tax Guide Singapore for Country by Country Reporting
We have new e-tax for Country by Country reporting that can help you with specific international reporting requirements. This
new e-Tax guide is relevant to any Singapore-based multinational enterprise (MNE) that carries out international trading activities
and has annual consolidated group revenue of at least S$1,125 million.
The following terms are used in this e-Tax Guide:
| AEOI | Automatic exchange of information |
| BEPS | Base Erosion and Profit Shifting |
| CbCR | Country-by-Country Reporting |
| CbC Report | Country-by-Country Report |
| FY 20XX | Financial year beginning on or after 1 January 20XX (but before 1 January of the following year) |
| IRAS CbCR webpage | This webpage provides information on CbCR and its implementation in Singapore |
| MNE | Multinational enterprise |
| OECD | Organisation for Economic Cooperation and Development |
| Reporting Entity / Reporting MNE | The entity of an MNE group that is required to file a CbC Report |
| Singapore MNE group | MNE group whose ultimate parent entity is tax resident in Singapore for the financial year in which the CbC Report is prepared (the first such year being FY 2017) |
Are your controlled transactions in line with the transfer pricing legislation? Mistakes in pricing will roll over from year to year. It is crucial to identify mispricing as soon as possible to better manager the transfer pricing risk.
A US multinational company with subsidiaries around the world, including Singapore, recently prepared new US transfer pricing documentation.
The company applies their transfer pricing policies on a global basis. The US tax director instructs the Singapore tax director to use this
documentation. Is the US documentation acceptable in Singapore?
Transfer Pricing is one of the key tax requirements to consider when expanding your business outside Singapore. Operations in more than one country (at least two countries) is sufficient for a business to be caught up under the transfer pricing regulations.
-for-TPS.png)
