The Inland Revenue Authority of Singapore has updated its list of jurisdictions for the automatic exchange of Country-by-Country (CbC) reports under the Country-by-Country Reporting Multilateral Competent Authority Agreement (CbC MCAA), adding Greenland for financial years beginning from 1 May 2024.
The Inland Revenue Authority of Singapore (IRAS) has expanded its network for the automatic exchange of Country-by-Country (CbC) reports by adding Greenland to the list of participating jurisdictions.
The update, published on 21 July 2026, applies to financial years beginning from 1 May 2024.
The revised guidance updates Singapore’s existing exchange relationships for CbC reporting, enabling CbC reports submitted to IRAS for the relevant reporting periods to be exchanged automatically with Greenland, subject to the applicable arrangements under the CbC MCAA.
Country-by-Country Reporting was introduced by the Organisation for Economic Co-operation and Development (OECD) under Base Erosion and Profit Shifting (BEPS) Action 13 to improve tax transparency for multinational enterprise (MNE) groups. In Singapore, Singapore-headquartered MNEs meeting the prescribed thresholds have been required to prepare and file CbC Reports with IRAS for financial years beginning on or after 1 January 2017.
Singapore signed the CbC MCAA on 21 June 2017, providing a framework for the automatic bilateral exchange of CbC reports with jurisdictions that have established qualifying exchange relationships.
Under the arrangement, CbC Reports submitted to IRAS are shared with tax authorities in jurisdictions that have qualifying competent authority agreements with Singapore. The reports contain information on an MNE group’s global allocation of income, taxes paid across jurisdictions and other financial data, and may be used by tax authorities to assess transfer pricing risks and other BEPS-related risks.
IRAS noted that the list of exchange relationships may continue to change as additional jurisdictions establish qualifying arrangements under the CbC MCAA.
