IRAS Guidance on GloBE Rules and Domestic Top-up Tax and Their Implementation in Singapore
The Inland Revenue Authority of Singapore (IRAS) has published guidance on the Global Anti-Base Erosion (GloBE) Rules and Domestic Top-up Tax (DTT). As part of Budget 2024, Singapore announced that it will implement the GloBE Income Inclusion Rule (IIR) and a domestic minimum top-up tax from financial years starting on or after 1 January 2025. The implementation of the Undertaxed Profits Rule …
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