Singapore legislation
Clause 27
Clause 27
Purpose of this Part
(1)
The purpose of this Part is to implement a top‑up tax in respect of an MNE group that is intended to be a qualified domestic minimum top‑up tax within the meaning of the GloBE Rules.
(2)
For that purpose, this Part makes provision for a tax payable in respect of an MNE group where the conditions in section 28(1) are satisfied for a financial year.
(3)
The tax is to be known as the “domestic top‑up tax” or “DTT”.
(4)
The provisions of this Part must be interpreted in a manner that is consistent with the purpose in subsection (1).