§ 41 — Returns of MTT

41.—(1) Every responsible member of a registered MNE group located in Singapore to which this Act applies for a financial year must, by the due date, furnish to the Comptroller in the form and manner determined by the Comptroller, either —(a)

if the responsible member is not chargeable with MTT for that financial year — a return stating that fact; or

(b)

if the responsible member is chargeable with MTT for that financial year — a return stating the amount of top‑up tax for that financial year in respect of each relevant entity of the responsible member.

(2) The reference to the financial year in subsection (1) includes any financial year that is earlier than that in which the MNE group is registered for which no return had been furnished to the Comptroller.

(3) For the purposes of subsection (1) and section 42, the due date is —(a)

if the financial year is the transition year of the registered MNE group — the last day of the period of 18 months after the end of that transition year; or

(b)

if the financial year is any financial year after the transition year — the last day of the period of 15 months after the end of that financial year.

(4) The Comptroller may, in his or her discretion and subject to such terms and conditions as he or she may impose, allow an extension of time for the furnishing of a return.

(5) A return under subsection (1) must include —(a)

the start and end date of the financial year in respect of which the return is furnished;

(b)

the identity of the responsible member;

(c)

the identity of each relevant entity and the jurisdiction it is located in;

(d)

the amount of MTT payable by the responsible member in respect of each relevant entity; and

(e)

such information as the Comptroller may reasonably require for the purpose of determining or verifying the amount in paragraph (d).

(6) The amount of MTT computed in a return must, if not in Singapore dollars, be converted to Singapore dollars in accordance with the regulations.

—(1) Every responsible member of a registered MNE group located in Singapore to which this Act applies for a financial year must, by the due date, furnish to the Comptroller in the form and manner determined by the Comptroller, either —(a)

if the responsible member is not chargeable with MTT for that financial year — a return stating that fact; or

(b)

if the responsible member is chargeable with MTT for that financial year — a return stating the amount of top‑up tax for that financial year in respect of each relevant entity of the responsible member.

(2) The reference to the financial year in subsection (1) includes any financial year that is earlier than that in which the MNE group is registered for which no return had been furnished to the Comptroller.

(3) For the purposes of subsection (1) and section 42, the due date is —(a)

if the financial year is the transition year of the registered MNE group — the last day of the period of 18 months after the end of that transition year; or

(b)

if the financial year is any financial year after the transition year — the last day of the period of 15 months after the end of that financial year.

(4) The Comptroller may, in his or her discretion and subject to such terms and conditions as he or she may impose, allow an extension of time for the furnishing of a return.

(5) A return under subsection (1) must include —(a)

the start and end date of the financial year in respect of which the return is furnished;

(b)

the identity of the responsible member;

(c)

the identity of each relevant entity and the jurisdiction it is located in;

(d)

the amount of MTT payable by the responsible member in respect of each relevant entity; and

(e)

such information as the Comptroller may reasonably require for the purpose of determining or verifying the amount in paragraph (d).

(6) The amount of MTT computed in a return must, if not in Singapore dollars, be converted to Singapore dollars in accordance with the regulations.