The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Singapore

SINGAPORE BUDGET 2022
·
SUBSCRIBERS

BEPS 2.0 unlikely to hurt competitiveness, may net Singapore gains in tax revenue

Nation seen losing revenue under Pillar 1, which targets large MNEs, but benefiting from Pillar 2's global minimum effective tax rate impact

Sharon See

Sharon See

Published Mon, Feb 28, 2022 · 05:50 AM
Share this article.

Singapore

THE attractiveness of Singapore as a business hub is unlikely to be eroded by a global move to introduce a standardised minimum corporate tax rate, and the Republic could potentially make a net gain from higher tax revenues, watchers told The Business Times.

Singapore is one of the 137 countries and jurisdictions that late last year signed a landmark tax deal led by the Organisation for Economic Co-operation and Development (OECD) to create a fairer system of paying tax.

The Base Erosion and Profit Shifting (BEPS 2.0) initiative covers 2 pillars and is likely to come into effect by 2023.

Pillar 1 targets multi-national enterprises (MNEs) with a global turnover of over 20 billion euros (S$30.5 billion), rea…

SEE ALSO
Budget 2022 tax changes will help plug revenue-spending gap in FY2026-30: MOF
GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

VIEW ALL

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Economy & Policy

newspaper iconPurchase this articleshopping cart icon

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here