Skip to content
laws.sgby aturio
In forceAmendedUpdated to 20 Mar 2025
Contents

Part 2 · MTT

20. GloBE Safe Harbours

Amended

Last amended by an amending law of 2025.

(1)

This section applies if —

(a)

specified entities of an MNE group located in a jurisdiction are, in accordance with the regulations for applying a GloBE Safe Harbour, eligible for the GloBE Safe Harbour for a financial year; and

(b)

the filing entity of the MNE group elects in a GloBE information return (whether filed in Singapore or another jurisdiction) to apply that GloBE Safe Harbour for that jurisdiction for those entities for that financial year.

(2)

If subsection (1) applies, then, despite anything in this Part, the top‑up amounts (or such parts thereof specified under the regulations) for that financial year of those entities are treated as nil.

(3)

An election under subsection (1)(b) must be made in accordance with the GloBE rules and the regulations.

(4)

An election is not effective for the purpose of subsection (1)(b) if made under such circumstances as the regulations made for the purposes of this section may prescribe.

Read on from s 21

Part 3

DTT

Read on from Part 3

Part 4

Registration of Mne Group and Designation of Designated Local Gir Filing Entity and Designated Local Dtt Filing Entity

Read on from Part 4

Part 5

Returns, Payment of Mtt and Dtt and Information‑Gathering Powers

Read on from Part 5

Part 6

Assessments, Objections and Appeals

Read on from Part 6

Part 7

Collection, Recovery and Repayment of Mtt or Dtt

Read on from Part 7

Part 8

Offences

Read on from Part 8

Part 9

Miscellaneous

Read on from Part 9

Schedules

Read on from Schedules