Tax Bulletin

Transfer Pricing

Singapore tax authorities issue long-awaited Singapore Country-by-Country Reporting (CbCR) implementation guidance

The Inland Revenue Authority of Singapore (“IRAS”) released the e-Tax Guide on Country-by-Country Reporting which aims to provide practical guidance on CbCR implementation in Singapore. This comes as part of Singapore’s commitment to implement the four minimum standards under the inclusive framework under the Organisation for Economic Co-operation and Development (“OECD’s”) BEPS Project. 

In our tax bulletin, we provide a summary of these clarifications (including scope of application, definitional issues and gaps thereof) and our thoughts on how some of these may impact taxpayers in Singapore.