Multinational Enterprise (Minimum Tax) Act 2024 · s 13

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)

—(1) The ultimate parent entity of an MNE group is a responsible member of the MNE group if it is not an excluded entity and is —(a)located in Singapore; or(b)subject to a qualified IIR under the law of the jurisdiction where it is located.(2) An intermediate parent entity (X) of an MNE group is a responsible member of the MNE group if —(a)the ultimate parent entity of the MNE group is not a responsible member of the MNE group;(b)no constituent entity of the MNE group that holds a controlling interest in X is —(i)located in Singapore; or(ii)subject to a qualified IIR under the law of the jurisdiction where it is located; and(c)X is —(i)located in Singapore; or(ii)subject to a qualified IIR under the law of the jurisdiction where it is located.(3) A partially‑owned parent entity (X) of an MNE group is a responsible member of the MNE group if —(a)the ownership interests in X are not wholly held (directly or indirectly) by another partially‑owned parent entity of the MNE group that is —(i)located in Singapore; or(ii)subject to a qualified IIR under the law of the jurisdiction where it is located; and(b)X is —(i)located in Singapore; or(ii)subject to a qualified IIR under the law of the jurisdiction where it is located.
The ultimate parent entity of an MNE group is a responsible member of the MNE group if it is not an excluded entity and is —(a)located in Singapore; or(b)subject to a qualified IIR under the law of the jurisdiction where it is located.
An intermediate parent entity (X) of an MNE group is a responsible member of the MNE group if —(a)the ultimate parent entity of the MNE group is not a responsible member of the MNE group;(b)no constituent entity of the MNE group that holds a controlling interest in X is —(i)located in Singapore; or(ii)subject to a qualified IIR under the law of the jurisdiction where it is located; and(c)X is —(i)located in Singapore; or(ii)subject to a qualified IIR under the law of the jurisdiction where it is located.
A partially‑owned parent entity (X) of an MNE group is a responsible member of the MNE group if —(a)the ownership interests in X are not wholly held (directly or indirectly) by another partially‑owned parent entity of the MNE group that is —(i)located in Singapore; or(ii)subject to a qualified IIR under the law of the jurisdiction where it is located; and(b)X is —(i)located in Singapore; or(ii)subject to a qualified IIR under the law of the jurisdiction where it is located.

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 13Responsible members of MNE group

(1)

The ultimate parent entity of an MNE group is a responsible member of the MNE group if it is not an excluded entity and is —

(a)

located in Singapore; or

(b)

subject to a qualified IIR under the law of the jurisdiction where it is located.

(2)

An intermediate parent entity (X) of an MNE group is a responsible member of the MNE group if —

(a)

the ultimate parent entity of the MNE group is not a responsible member of the MNE group;

(b)

no constituent entity of the MNE group that holds a controlling interest in X is —

(i)

located in Singapore; or

(ii)

subject to a qualified IIR under the law of the jurisdiction where it is located; and

(c)

X is —

(i)

located in Singapore; or

(ii)

subject to a qualified IIR under the law of the jurisdiction where it is located.

(3)

A partially‑owned parent entity (X) of an MNE group is a responsible member of the MNE group if —

(a)

the ownership interests in X are not wholly held (directly or indirectly) by another partially‑owned parent entity of the MNE group that is —

(i)

located in Singapore; or

(ii)

subject to a qualified IIR under the law of the jurisdiction where it is located; and

(b)

X is —

(i)

located in Singapore; or

(ii)

subject to a qualified IIR under the law of the jurisdiction where it is located.