Singapore legislation
Regulation 95
Regulation 95
Adjustments in computing “adjusted revenue” for de minimis exclusion
For the purpose of section 19(6) (including that provision as applied by section 25(2)), in arriving at the adjusted revenue for a financial year of an entity, the adjustments to be made to the revenue of the entity that is taken into account in its FANIL for the financial year are any increase or decrease in its FANIL in determining its GloBE income or loss that affects the amount of its revenue, other than —
any increase or decrease in respect of expenses; or
any decrease in the entity’s revenue or GloBE income or loss for the financial year resulting from a recalculation under section 21(4) (including that provision as applied by section 25(2)) of its top‑up amount or effective tax rate for the financial year, in a subsequent financial year.