The Inland Revenue Authority of Singapore (IRAS) has updated its guidance page on the Global Anti-Base Erosion (GloBE) Rules and Domestic Top-up Tax (DTT) to reflect the implementation of the Substance-based Tax Incentive Safe Harbour as part of the Side-by-Side package. The general guidance on the Implementation of the Side-by-Side package in Singapore and the new specific guidance on the Substance-based Tax Incentive Safe Harbour are as follows:
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Implementation of the Side-by-Side pa…