The Inland Revenue Authority of Singapore (IRAS) updated its Country-by-Country Reporting guidance page on 5 March 2025. The update includes a revised list of jurisdictions with which CbC reports (CbCR) can be automatically exchanged.
This includes the Dominican Republic, effective from the 2023 financial year (FY).
CbCR is a form of reporting by MNEs initiated by the Organisation for Economic Co-operation and Development (OECD) in the Base Erosion and Profit Shifting (BEPS) Action 13 Report. In keeping with Singapore’s commitment to implement certain measures under the BEPS Project, Singapore-headquartered MNEs meeting certain requirements must prepare and file CbCR to IRAS for FYs beginning on or after 1 Jan 2017.