Singapore legislation
Regulation 66
Regulation 66
Definitions for this Division
In this Division —“de minimis test” means the test under regulation 71;“OECD guidance on country-by-country reporting” means the guidance on country‑by‑country reporting contained in the Organisation for Economic Co‑operation and Development (OECD) Guidance on Transfer Pricing Documentation and Country‑by‑Country Reporting, published in September 2014, as amended from time to time;“simplified effective tax rate test” means the test under regulation 72;“simplified income tax expense” means income tax expense as reported in the qualified financial statements of an MNE group that is adjusted to exclude —
any amount that does not relate to covered taxes; (b)any amount that relates to an uncertain tax position; and (c)any amount of deferred tax expense that is attributable to a reversal of a deferred tax asset or deferred tax liability that arose as described in regulation 91(1)(b) and (2), but not any amount that may be included in the adjusted covered taxes of the constituent entity for the financial year concerned because of regulation 91(3);“routine profits test” means the test under regulation 73.
Definition
“de minimis test” means the test under regulation 71;
Definition
“OECD guidance on country-by-country reporting” means the guidance on country‑by‑country reporting contained in the Organisation for Economic Co‑operation and Development (OECD) Guidance on Transfer Pricing Documentation and Country‑by‑Country Reporting, published in September 2014, as amended from time to time;
Definition
“simplified effective tax rate test” means the test under regulation 72;
Definition
“simplified income tax expense” means income tax expense as reported in the qualified financial statements of an MNE group that is adjusted to exclude —
any amount that does not relate to covered taxes; (b)any amount that relates to an uncertain tax position; and (c)any amount of deferred tax expense that is attributable to a reversal of a deferred tax asset or deferred tax liability that arose as described in regulation 91(1)(b) and (2), but not any amount that may be included in the adjusted covered taxes of the constituent entity for the financial year concerned because of regulation 91(3);
Definition
“routine profits test” means the test under regulation 73.