Finance (Income Taxes) Bill · As enacted · Part 2 · Amendment of Multinational Enterprise (Minimum Tax) Act 2024
39. Amendment of section 30
Official textFrom Singapore Statutes Online, unchanged
In the MMTA, in section 30, replace subsection (7) with —“(7) Despite subsection (6), paragraph 6(14) of the First Schedule (including the prescribed circumstances mentioned in that provision) applies to determine the top‑up amount for a financial year of —
a standalone JV (X) located in Singapore; or
each entity (Y) of a JV group located in Singapore,that is treated as a constituent entity of an MNE group located in Singapore, subject to the following modifications:
a reference to each constituent entity of an MNE group located in Singapore is to X or Y;
such other modifications as may be prescribed by regulations made under section 84.”.
Subsection (1) applies in relation to each financial year of an MNE group beginning on or after 1 January 2025.
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Part 3
Related Amendments to Goods and Services Tax Act 1993
Part 4
Related Amendments to Property Tax Act 1960
Part 5
Amendment of Economic Expansion Incentives (Relief from Income Tax) Act 1967
Part 6