Singapore: Implementation of minimum tax rate under OECD Inclusive Framework for the Taxation of the Digital Economy

Progress

Current status
under deliberation
01 Jan 2025 in force
14 Feb 2023 under deliberation

Scope

Implementers
Singapore
Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
cross-cutting
Government Branch
executive
Government Body
central government
Implementation Level
national

Timeline of events

01 Jan 2025
in force

Implemented Singapore's Pillar 2 of the OECD's BEPS initiative

On 1 January 2025, Singapore implemented Pillar 2 of the Global Anti-Base Erosion (GloBE) rules under Pillar 2 of the OECD’s Base Erosion and Profit Shifting (BEPS) initiative, which introduces a global minimum effective tax rate of 15% for large mu…

Source
Event type order
Action type implementation
Government branch executive
Government body central government
14 Feb 2023
under deliberation

Announced Singapore's intent to implement Pillar 2 of the OECD's BEPS initiative

On 14 February 2023, Singapore’s Deputy Prime Minister and Minister for Finance delivered the FY2023 Budget Statement in Parliament and announced Singapore’s intent to implement the Global Anti-Base Erosion (GloBE) rules under Pillar 2 of the OECD’s…

Source
Event type order
Action type announcement
Government branch executive
Government body central government