Singapore legislation
Clause 1
Clause 1
Short title and commencement
This Act is the Finance (Income Taxes) Act 2025.(2) Section 5(1)(a) is deemed to have come into operation on 1 January 2013.(3) Section 52 is deemed to have come into operation on 1 January 2024.(4) Sections 9 and 32(h) are deemed to have come into operation on 7 February 2024.(5) Sections 5(1)(f), 32(g), 33, 34(1) and 38 are deemed to have come into operation on 1 January 2025.(6) Sections 27(e) and (f) and 42 are deemed to have come into operation on 1 February 2025.(7) Sections 2, 6(a), (b), (d) and (e), 7(1), 8, 13, 18, 20(1)(g) and (j), 22, 29, 34(2), 35, 36, 37, 39, 49(a) and 51 are deemed to have come into operation on 19 February 2025.(8) Section 32(a), (b), (c), (e), (i) and (j) is deemed to have come into operation on 1 July 2025.(9) Sections 25, 26 and 54 come into operation on a date that the Minister appoints by notification in the Gazette.(10) The provisions of Part 2 —
are deemed to have come into operation on the same date as that of the provisions of the Multinational Enterprise (Minimum Tax) Act 2024 (except sections 85 and 86), as specified in the Multinational Enterprise (Minimum Tax) Act 2024 (Declaration under Section 1(3)) Order 2024 (G.N. No. S 1060/2024); and
have effect in relation to an MNE group starting from the first financial year of that MNE group as specified in that Order.(11) To avoid doubt, section 1(5) and (6) of that Act (order declaring that an Act provision ceases to be in force) applies to a provision of that Act that is amended or inserted by a provision of Part 2 of this Act.
(1)
This Act is the Finance (Income Taxes) Act 2025.
(2)
Section 5(1)(a) is deemed to have come into operation on 1 January 2013.
(3)
Section 52 is deemed to have come into operation on 1 January 2024.
(4)
Sections 9 and 32(h) are deemed to have come into operation on 7 February 2024.
(5)
Sections 5(1)(f), 32(g), 33, 34(1) and 38 are deemed to have come into operation on 1 January 2025.
(6)
Sections 27(e) and (f) and 42 are deemed to have come into operation on 1 February 2025.
(7)
Sections 2, 6(a), (b), (d) and (e), 7(1), 8, 13, 18, 20(1)(g) and (j), 22, 29, 34(2), 35, 36, 37, 39, 49(a) and 51 are deemed to have come into operation on 19 February 2025.
(8)
Section 32(a), (b), (c), (e), (i) and (j) is deemed to have come into operation on 1 July 2025.
(9)
Sections 25, 26 and 54 come into operation on a date that the Minister appoints by notification in the Gazette.
(10)
The provisions of Part 2 —
are deemed to have come into operation on the same date as that of the provisions of the Multinational Enterprise (Minimum Tax) Act 2024 (except sections 85 and 86), as specified in the Multinational Enterprise (Minimum Tax) Act 2024 (Declaration under Section 1(3)) Order 2024 (G.N. No. S 1060/2024); and
have effect in relation to an MNE group starting from the first financial year of that MNE group as specified in that Order.
(11)
To avoid doubt, section 1(5) and (6) of that Act (order declaring that an Act provision ceases to be in force) applies to a provision of that Act that is amended or inserted by a provision of Part 2 of this Act.