§ 61 — Right of contribution

61.—(1) A liable entity (X) of or connected to an MNE group that has made payment to the Comptroller of any part of the DTT payable in respect of the MNE group for a financial year, has a right of contribution or indemnity from another liable entity (Y) of or connected to the MNE group that is jointly and severally liable for that part of the DTT under section 59(2) or (3) (as the case may be) of an amount computed in accordance with subsection (2).(2) The amount of contribution or indemnity that X has from Y is the amount computed by the formula where —(a)

A is the GloBE income or loss of Y for that financial year;

(b)

B is —(i)

if Y is not a special entity, the sum of the GloBE income or loss for that financial year of all the constituent entities (not being special entities) of the MNE group located in Singapore that have a positive amount of GloBE income or loss for that financial year;

(ii)

if Y is a section 29(b) entity, a minority‑owned constituent entity that is not part of a minority‑owned subgroup, or a standalone JV, the GloBE income or loss of Y for that financial year; or

(iii)

if Y is a minority‑owned constituent entity that is part of a minority‑owned subgroup or an entity of a JV group, the sum of the GloBE income or loss for that financial year of all the entities of the minority‑owned subgroup or JV group (as the case may be) located in Singapore that have a positive amount of GloBE income or loss for that financial year; and

(c)

C is —(i)

if Y is not a special entity, the sum of the top‑up amounts for the constituent entities (not being special entities) of the MNE group located in Singapore for that financial year;

(ii)

if Y is a section 29(b) entity, a minority‑owned constituent entity that is not part of a minority‑owned subgroup, or a standalone JV, the top‑up amount for Y for that financial year; or

(iii)

if Y is a minority‑owned constituent entity that is part of a minority‑owned subgroup, or an entity of a JV group, the sum of the top‑up amounts for the entities of the minority‑owned subgroup or JV group (as the case may be) located in Singapore for that financial year,

less the amount of any DTT paid by Y for that financial year.

(3) This section is subject to any agreement between X and Y or of which X and Y are parties.

(4) In this section —“DTT” includes any interest imposed by this Act;

“liable entity” has the meaning given by section 59(2) or (3), as the case may be.

—(1) A liable entity (X) of or connected to an MNE group that has made payment to the Comptroller of any part of the DTT payable in respect of the MNE group for a financial year, has a right of contribution or indemnity from another liable entity (Y) of or connected to the MNE group that is jointly and severally liable for that part of the DTT under section 59(2) or (3) (as the case may be) of an amount computed in accordance with subsection (2).

(2) The amount of contribution or indemnity that X has from Y is the amount computed by the formula where —(a)

A is the GloBE income or loss of Y for that financial year;

(b)

B is —(i)

if Y is not a special entity, the sum of the GloBE income or loss for that financial year of all the constituent entities (not being special entities) of the MNE group located in Singapore that have a positive amount of GloBE income or loss for that financial year;

(ii)

if Y is a section 29(b) entity, a minority‑owned constituent entity that is not part of a minority‑owned subgroup, or a standalone JV, the GloBE income or loss of Y for that financial year; or

(iii)

if Y is a minority‑owned constituent entity that is part of a minority‑owned subgroup or an entity of a JV group, the sum of the GloBE income or loss for that financial year of all the entities of the minority‑owned subgroup or JV group (as the case may be) located in Singapore that have a positive amount of GloBE income or loss for that financial year; and

(c)

C is —(i)

if Y is not a special entity, the sum of the top‑up amounts for the constituent entities (not being special entities) of the MNE group located in Singapore for that financial year;

(ii)

if Y is a section 29(b) entity, a minority‑owned constituent entity that is not part of a minority‑owned subgroup, or a standalone JV, the top‑up amount for Y for that financial year; or

(iii)

if Y is a minority‑owned constituent entity that is part of a minority‑owned subgroup, or an entity of a JV group, the sum of the top‑up amounts for the entities of the minority‑owned subgroup or JV group (as the case may be) located in Singapore for that financial year,

less the amount of any DTT paid by Y for that financial year.

(3) This section is subject to any agreement between X and Y or of which X and Y are parties.

(4) In this section —“DTT” includes any interest imposed by this Act;

“liable entity” has the meaning given by section 59(2) or (3), as the case may be.