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 […]