This publication provides valuable insights into Singapore’s adoption of the Global Anti-Base Erosion (GloBE) Rules, a key component of the OECD’s BEPS 2.0 initiative. It explores the potential impact of the GloBE Rules on Singapore, including estimated revenue collection and the proposed Refundable Investment Credit (RIC) to maintain tax competitiveness. The document also discusses the potential effects of the GloBE Rules on existing tax incentives offered by the Singapore Government and addresses specific scenarios, such as flow-through entities in asset management. It emphasizes the importance of MNEs preparing for the GloBE Rules and highlights the need for a dedicated team of experts to navigate the complex compliance requirements. Overall, this document serves as a comprehensive resource for understanding Singapore’s approach to the GloBE Rules and their implications for multinational enterprises operating in the country.
