Global Anti-Base Erosion (GloBE) Rules and Implications for International Accounting Standard
TAKEAWAYS In the 2023 Budget Speech, Deputy Prime Minister and Minister for Finance Lawrence Wong highlighted that Singapore’s “corporate tax system will be affected by Base Erosion and Profit Shifting, or BEPS 2.0. Pillar Two of BEPS will introduce a global minimum effective tax rate of 15% for large MNE (multinational enterprise) groups”. Singapore intends to […]
Transfer Pricing in Malaysia and Singapore
TAKEAWAYS New requirement for contemporaneous transfer pricing (TP) documentation to be prepared prior to the due date for filing the tax return, removal of the provision for offsetting adjustments, and a new definition of arm’s length range – these are just some of the changes introduced by the Income Tax (Transfer Pricing) Rules 2023 (hereafter […]
Social Impact Bond
TAKEAWAYS In my previous article, published in the October issue of this journal, I had proposed the use of social bonds as part of social investment for the People sector. Social innovation for the People sector is a necessary step for the next stage of progress for this sector as it helps the sector to become […]