ASIAN REGULATORY ROUND UP – SINGAPORE TO ADOPT BEPS STANDARDS
June 1st, 2016
SINGAPORE has promised that it will implement the base erosion and profit shifting (BEPS) project developed by the Organisation for Economic Cooperation & Development (OECD). The Inland Revenue Authority of Singapore (IRAS) has said it accepts profits should be taxed where real economic activities generating them are performed and where value is created. IRAS said Singapore would enact BEPS’ four minimum standards, namely those countering harmful tax practices, preventing treaty abuse, transfer pricing documentation, and enhancing dispute resolution. It ...
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