Singapore: IRAS updates e-tax guide on country-by-country reporting

07 November, 2022

On 31 October 2022, the Inland Revenue Authority of Singapore (IRAS) published the fourth edition of its e-Tax Guide concerning country-by-country (CbC) reporting. The updated guide includes the following main amendments:

Amended to incorporate the obligations of a Singapore MNE group under Singapore’s notification requirement;
Inserted a new section on Singapore’s notification requirement;
Inserted new paragraphs on the preparation of CbC Reports in CbC Report XML Schema format;
Amended on the submission of CbC reports to IRAS;
Inserted a new section on penalties for noncompliance; and
Enhanced the FAQs.

Asia-Pacific

Singapore

Like This

Follow @regfollower

«

Previous post
Kenya signs multilateral competent authority agreement on exchange of CbC reports

Next post
Transfer Pricing Brief: November 2022

»

Singapore issues advance ruling on classification of hybrid instruments and related matters

November 05, 2024

The Inland Revenue Authority of Singapore has released Advance Ruling Summary No. 7/2024, addressing the classification of hybrid instruments and related matters on 1 November 2024. Subject: Whether: The fixed rate subordinated

Singapore gazettes order declaring MCAA-CbC as international tax compliance agreement with Georgia, Albania

October 29, 2024

Singapore has published Order No. S 813 in the Official Gazette on 24 October 2024 which officially recognises the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports as an international tax

Singapore publishes guidance on New Alternative Net Tonnage Basis of Taxation for Shipping Income

October 25, 2024

The Inland Revenue Authority of Singapore has updated its guidelines regarding the Tax Treatment for Shipping Income which now includes new provisions related to the alternative net tonnage basis of taxation, which will take effect from the year of

Singapore passes bills for the implementation of global minimum tax on multinational corporations

October 18, 2024

Singapore's parliament passed two bills on 15 October 2024 – Multinational Enterprise (Minimum Tax) (Bill No.33/2024) and Income Tax (Amendment) Bill (Bill No. 32/2024.) – which introduces a top-up tax (MTT) and a domestic top-up tax (DTT) for

Singapore: Second Finance Minister outlines key provisions of Income Tax (Amendment) Bill, Multinational Enterprise (Minimum Tax) Bill

October 17, 2024

Singapore's Second Minister for Finance, Indranee Rajah, presented the Income Tax (Amendment) Bill and the Multinational Enterprise (Minimum Tax) Bill during their second reading in Parliament, on 14 October 2024, with the aim to modernise

Singapore updates CbC reporting list of jurisdictions, adds Albania and Georgia

October 16, 2024

The Inland Revenue Authority of Singapore (IRAS) has updated its list of jurisdictions participating in the Multilateral Competent Authority Agreement (MCAA) for the exchange of Country-by-Country (CbC) reports on 11 October 2024. The recent