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Singapore Consulting on Legislation for Pillar 2 Global Minimum Tax and 2024 Budget Measures

11 June 2024

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Proposed Changes

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Singapore

Singapore's Ministry of Finance has announced the launch of public consultations on draft legislation for the introduction of the Pillar 2 global minimum tax and for the implementation of tax measures announced as part of the 2024 Budget Statement (previous coverage). The deadline for comments is 5 July 2024. The key points of each consultation are as follows: --- Public Consultation on Proposed Multinational Enterprise (Minimum Tax) Bill and Subsidiary Legislation SCOPE OF THE CONSULTATION 3. The proposed Bill and the subsidiary legislation will introduce the following key changes that apply to in-scope multinational enterprise ("MNE") groups, defined as those...