Multinational Enterprise (Minimum Tax) Act 2024 · s 12

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 12Entity chargeable with MTT

An entity (called in this Act a chargeable entity) is chargeable with MTT for a financial year if —

(a)

the entity is a responsible member of an MNE group at any time in the financial year; (b)this Act applies to the MNE group for the financial year;

(c)

the entity holds an ownership interest in another constituent entity of the MNE group at any time in the financial year;

(d)

that other constituent entity is located in a jurisdiction outside Singapore or is a stateless entity, and has a top‑up amount for the financial year (called in this Act a relevant entity); and

(e)

the entity is located in Singapore.