Singapore legislation
Regulation 4
Regulation 4
Adjustments to consolidated group revenue
Subregulation 1
For the purpose of section 8(1), the consolidated group revenue of an MNE group for a financial year is the revenue reflected in the consolidated financial statements of its ultimate parent entity for that financial year (or if different types of revenue are presented as separate line items in such consolidated financial statements, the aggregate of such revenues) adjusted as follows:
the revenue of the entities of the MNE group for that financial year from their ordinary activities is included (to the extent it was not already included);
the cost of sales and other operating expenses for that financial year are added back (to the extent they were already deducted);
net investment gains for that financial year reflected in the profit and loss statement of the consolidated financial statements are included (to the extent that they were not already included);
income or gains for that financial year presented as extraordinary or non-recurring items in the consolidated financial statements are included (to the extent that they were not already included).
Subregulation 2
In paragraph (1)(c), “net investment gains” means, in the case where investment gains and investment losses are separately reflected in the profit and loss statement of the consolidated financial statements for a financial year, the investment gains reduced by the investment losses (but not below nil) for that financial year.