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Authorisation of officers
76. Without limiting section 4(5) of the ITA, the Comptroller may authorise a person authorised under section 4(1) of the ITA to investigate offences under this Act, and to exercise any power in sections 65B(1A), (1B), (1C) or (1D), 65F, 65G, 65H and 65I of the ITA as applied by sections 46 and 47.
Liability of managers of entities
77. The manager or principal officer in Singapore of every entity is answerable for doing all such acts, matters and things as are required to be done by the entity under this Act.
Duty of liquidator, etc., on winding up of entity
78.—(1) Where an entity is being wound up or dissolved, the liquidator or receiver of the entity, or any other person overseeing the winding up or dissolution of the entity, is answerable for doing all such acts, matters and things as are required to be done by the entity under this Act. (2) Where an entity is being wound up or dissolved, the liquidator, receiver or other person mentioned in subsection (1) must not distribute any of the assets of the entity unless the liquidator, receiver or other person has made provision for the payment in full of any MTT or DTT which may be found payable by the entity.
Provisions relating to interest and penalty
79.—(1) Any interest or penalty imposed under this Act is not part of the tax paid for the purposes of claiming relief under any of the provisions of this Act. (2) Any penalty imposed under section 87(1) of the ITA (as applied by this Act) is considered interest on tax for the purposes of section 33(2) of the Limitation Act 1959.
Saving for criminal proceedings
80. The provisions of this Act do not affect any criminal proceedings under any other written law.
Admissibility of certain statements and documents as evidence
81.—(1) Statements made or documents produced by or on behalf of any person are not inadmissible in evidence against the person in any proceedings to which this section applies by reason only that the person was or may have been induced to make the statements or produce the documents by any inducement or promise lawfully given or made by a person having any official duty under, or being employed in the administration of, this Act. (2) This section applies to any proceedings against the person in question for the recovery of any sum due from the person, whether by way of MTT or DTT, surcharge, interest or penalty.
Protection of informers
82.—(1) Except as provided in subsection (3), no witness in any civil or criminal proceedings is obliged or permitted —(a) to disclose the identity of an informer who has given any information (whether the information is given before, on or after that date) with respect to an offence under this Act; or (b) to answer any question if the answer to the question would lead, or would tend to lead, to the discovery of the identity of the informer. (2) If any document which is in evidence or liable to inspection in any civil or criminal proceedings contains any entry in which any informer is named or described or which may lead to the discovery of the informer’s identity, the court must cause the entry to be concealed from view or to be obliterated so far only as may be necessary to protect the informer from discovery. (3) If —(a) in any proceedings for an offence under any written law, the court, after full enquiry into the case, believes that the informer wilfully made a material statement which the informer knew or believed to be false or did not believe to be true; or (b) in any other proceedings, the court is of the opinion that justice cannot be fully done between the parties to the proceedings without the discovery of the informer, the court may permit enquiry and require full disclosure concerning the informer. (4) In this section, a reference to civil proceedings includes any proceedings before the Board of Review.
Application of other ITA provisions
83.—(1) This section applies other ITA provisions for the purposes of this Act. (2) Section 6 of the ITA applies with the following modifications:(a) a reference in that section to any document, information, return, or assessment list relating to income or items of income of a person is to any document, information, return, or assessment list relating to the GloBE income or loss or items of GloBE income or loss of any entity for a financial year; (b) a reference in section 6(13) to information relating to a person is to information relating to an entity; (c) regulations may be made under section 84 (instead of under section 7 of the ITA) for matters to be prescribed for that section. (3) Any person who contravenes section 6 of the ITA as applied by subsection (2) is guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 and in default of payment to imprisonment for a term not exceeding 6 months. (4) Sections 8, 8A and 9 of the ITA apply with the following modifications:(a) a reference to a company is to an entity; (b) a reference to a return, estimate, statement, notice, direction or other document is to a return, estimate, statement, notice, direction or other document under this Act; (c) regulations may be made under section 84 (instead of section 8A of the ITA) for the matters in section 8A(3) and (4) as applied by this subsection.
Regulations
84.—(1) The Minister may make regulations —(a) to provide for adjustments, including any allocation to or from another entity, to be made to the FANIL or the GloBE income or loss of entities (including adjustments to be made to the revenue of entities); (b) to provide for adjustments, including any allocation to or from another entity, to be made to the qualifying current tax expense, the qualifying deferred tax expense or the adjusted covered taxes of entities; (c) to provide for elections that may be made under the GloBE rules; (d) to provide for the modification of any provision of this Act where the ultimate parent entity of an MNE group is a flow‑through entity; (e) to provide for the allocation of the FANIL, the GloBE income or loss, the qualifying current tax expense or the qualifying deferred tax expense of a flow‑through entity in specified circumstances; (f) to provide for adjustments to be made to any negative tax carried forward, recaptured deferred tax liability or any other prescribed item for the purposes of any provision of this Act in a case where, after an MNE group first becomes liable to be registered under Part 4, it comes within the scope of the law of any jurisdiction imposing a qualified IIR or a qualified UTPR; (g) to provide for the currency in which calculations under this Act are to be carried out in specified circumstances, and the exchange rate applicable for MTT or DTT purposes; (h) to modify the provisions of the ITA (including any case law or principle of law interpreting those provisions) in their application in relation to MTT and DTT; (i) to provide for the modification of the application of any provision of this Act when an MNE group changes its financial year; (j) to provide for a procedure for an entity to submit requests to the Comptroller to resolve issues arising from differences in tax outcomes between Singapore and another jurisdiction in their respective laws because of different interpretations of the GloBE rules, the procedure for resolving these issues, and the provision of relief arising from such resolution; (k) to prescribe the agreements that are qualifying competent authority agreements; (l) to provide for the GloBE Safe Harbours, and matters relating thereto; (m) to create offences for a contravention of a provision of the regulations, the penalty for which on conviction may be a fine not exceeding $5,000 or to imprisonment for a term not exceeding 6 months or to both, and to provide for the composition of any such offence; (n) to provide for such saving, transitional and other consequential, incidental and supplemental provisions as are necessary or expedient for regulations made under this section; (o) to prescribe matters required or permitted by this Act to be prescribed; and (p) for the purposes of carrying out or giving effect to the provisions of this Act. (2) Regulations made under this section may incorporate by reference (with or without modification) any part of the GloBE rules.
Related amendments to Income Tax Act 1947
85. In the Income Tax Act 1947 —(a) in section 2(1), after the definition of “crops”, insert —“ “DTT” means the domestic top‑up tax imposed under the MMT Act;”; (b) in section 2(1), after the definition of “employee”, insert —“ “excluded top‑up tax” means —(a) a qualified IIR, or a tax imposed by the law of a jurisdiction other than Singapore that is substantially similar to any qualified IIR; or (b) a qualified UTPR, or a tax imposed by the law of a jurisdiction other than Singapore that is substantially similar to any qualified UTPR;”; (c) in section 2(1), after the definition of “limited partnership”, insert —“ “MMT Act” means the Multinational Enterprise (Minimum Tax) Act 2024; “MTT” means the multinational enterprise top‑up tax imposed under the MMT Act;”; (d) in section 2(1), after the definition of “professional visit pass”, insert —“ “qualified domestic minimum top‑up tax” has the meaning given by section 2(1) of the MMT Act, and includes a tax imposed by the law of a jurisdiction other than Singapore that is substantially similar to any qualified domestic minimum top‑up tax; “qualified IIR” and “qualified UTPR” have the meanings given by section 2(1) of the MMT Act;”; (e) after section 2, insert —“Purpose of Act 2A.—(1) Income tax is charged in accordance with this Act on the income of a person accruing in or derived from Singapore or received in Singapore from outside Singapore, or on such amounts deemed to be chargeable as such income under this Act.(2) Income tax (namely, DTT and MTT) is also charged in accordance with the MMT Act on the income of a multinational enterprise group for the following purposes:(a) to implement the Global Anti‑Base Erosion Model Rules (Pillar 2) relating to the top‑up tax under the income inclusion rule (IIR); (b) to implement a domestic top‑up tax that is intended to be a qualified domestic minimum top‑up tax (QDMTT) within the meaning of those Rules. (3) The liabilities of a person to the taxes mentioned in subsections (1) and (2) are cumulative. (4) Sections 2 (except for definitions of terms used in provisions applied under subsection (6) insofar as not modified by the MMT Act), 3A, 5, 7, Parts 3 to 15 (except section 57), sections 62 to 63, 66 to 71, Part 17, sections 81, 82, 84, 85, 86, 88, 91 to 93A, 94 to 101, 102A, 103, 104, 104A, Parts 20A, 20B and 21, and the Schedules do not apply in relation to DTT and MTT. (5) Subsection (4) does not affect the operation of —(a) section 15(1)(g) (in relation to the disallowance of deductions for DTT and MTT); and (b) section 49 (in relation to arrangements for relief from double taxation for DTT, and any tax of a similar character imposed by the laws of another country). (6) The provisions of this Act not disapplied by subsection (4) apply in relation to DTT and MTT, but only in accordance with the MMT Act.”; (f) in section 13(9)(a), after “(by whatever name called)”, insert “, or qualified domestic minimum top‑up tax (but disregarding any excluded top‑up tax),”; (g) in section 13(9)(b), after “(by whatever name called)”, insert “(but disregarding any excluded top‑up tax or qualified domestic minimum top‑up tax),”; (h) in section 15(1)(g), after “income tax in Singapore”, insert “(including MTT and DTT)”; (i) in section 15(1), after sub‑paragraph (g), insert —“(ga) any amount paid or payable in respect of any excluded top‑up tax or qualified domestic minimum top‑up tax;”; (j) in section 49(1), after “tax under this Act”, insert “(including DTT but excluding MTT)”; (k) in section 50, after subsection (1), insert —“(1A) To avoid doubt, this section —(a) does not apply where the tax payable in respect of income in that territory is an excluded top‑up tax; and (b) applies where the tax payable in respect of income in that territory is a qualified domestic minimum top‑up tax that is payable —(i) in respect of the income of a permanent establishment in a territory; or (ii) in the cases in subsections (5)(c) and (7)(a), by a company in respect of the profits out of which it pays the dividend.”; (l) in section 50A, after subsection (1), insert —“(1A) To avoid doubt, this section —(a) does not apply where the tax payable in respect of income in that territory is excluded top‑up tax; and (b) applies where the tax payable in respect of income in that territory is a qualified domestic minimum top‑up tax that is payable —(i) in respect of the income of a permanent establishment in a territory; or (ii) in the cases in subsections (2) and (3), by a company in respect of the profits out of which it pays the dividend.”; (m) in section 50C(2)(a), after “(by whatever name called)”, insert “or qualified domestic minimum top‑up tax (but disregarding any excluded top‑up tax),”; and (n) in section 50C(2)(b), after “(by whatever name called)”, insert “(but disregarding any excluded top‑up tax or qualified domestic minimum top‑up tax),”. —(1) Income tax is charged in accordance with this Act on the income of a person accruing in or derived from Singapore or received in Singapore from outside Singapore, or on such amounts deemed to be chargeable as such income under this Act. (2) Income tax (namely, DTT and MTT) is also charged in accordance with the MMT Act on the income of a multinational enterprise group for the following purposes:(a) to implement the Global Anti‑Base Erosion Model Rules (Pillar 2) relating to the top‑up tax under the income inclusion rule (IIR); (b) to implement a domestic top‑up tax that is intended to be a qualified domestic minimum top‑up tax (QDMTT) within the meaning of those Rules. (3) The liabilities of a person to the taxes mentioned in subsections (1) and (2) are cumulative. (4) Sections 2 (except for definitions of terms used in provisions applied under subsection (6) insofar as not modified by the MMT Act), 3A, 5, 7, Parts 3 to 15 (except section 57), sections 62 to 63, 66 to 71, Part 17, sections 81, 82, 84, 85, 86, 88, 91 to 93A, 94 to 101, 102A, 103, 104, 104A, Parts 20A, 20B and 21, and the Schedules do not apply in relation to DTT and MTT. (5) Subsection (4) does not affect the operation of —(a) section 15(1)(g) (in relation to the disallowance of deductions for DTT and MTT); and (b) section 49 (in relation to arrangements for relief from double taxation for DTT, and any tax of a similar character imposed by the laws of another country). (6) The provisions of this Act not disapplied by subsection (4) apply in relation to DTT and MTT, but only in accordance with the MMT Act.”; “(1A) To avoid doubt, this section —(a) does not apply where the tax payable in respect of income in that territory is an excluded top‑up tax; and (b) applies where the tax payable in respect of income in that territory is a qualified domestic minimum top‑up tax that is payable —(i) in respect of the income of a permanent establishment in a territory; or (ii) in the cases in subsections (5)(c) and (7)(a), by a company in respect of the profits out of which it pays the dividend.”; “(1A) To avoid doubt, this section —(a) does not apply where the tax payable in respect of income in that territory is excluded top‑up tax; and (b) applies where the tax payable in respect of income in that territory is a qualified domestic minimum top‑up tax that is payable —(i) in respect of the income of a permanent establishment in a territory; or (ii) in the cases in subsections (2) and (3), by a company in respect of the profits out of which it pays the dividend.”;
Related amendments to Inland Revenue Authority of Singapore Act 1992
86. In the Inland Revenue Authority of Singapore Act 1992 —(a) in the Third Schedule, after item 10, insert —“11. Multinational Enterprise (Minimum Tax) Act 2024.”; and (b) in the Fourth Schedule, in item 1, replace “and Part 9 of the Casino Control Act 2006” with “, Part 9 of the Casino Control Act 2006, and the Multinational Enterprise (Minimum Tax) Act 2024”.
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