The Inland Revenue Authority of Singapore has launched a Consultation on the Proposed Multinational Enterprise (Minimum Tax) Regulations – GloBE Safe Harbours and Transition Rules. The deadline for comments is 18 October 2024.
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1. Introduction
1.1 As announced in the 2024 Budget Statement, Singapore will implement the Multinational Enterprise Top-up Tax ("MTT") and the Domestic Top-up Tax ("DTT") under Pillar Two of the Base Erosion and Profit Shifting ("BEPS") 2.0 initiative, which wi…