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Companies need to act now against tax avoidance

It's too risky to take a "wait and see" approach to BEPS as Singapore formally joins hands with other governments to tackle tax avoidance.

Companies in Singapore will, more than ever, need to demonstrate alignment of where tax is incurred to where their substantive economic activities are performed and value is created.

THE biggest evolution in tax is upon us - locally. Last week, Singapore announced that it would become a Base Erosion and Profit Shifting (BEPS) Associate and formally unite with other governments to implement a number of measures against tax avoidance.

Firstly, let's dispel a couple of