In the latest budget announcement on February 16th, 2024, the Ministry of Finance (MOF) unveiled significant tax reforms set to reshape Singapore’s fiscal landscape. Notable among these changes is the adoption of BEPS 2.0 Pillar 2, slated for implementation starting January 2025. This initiative targets large Multinational Enterprises (MNEs), aiming to establish a minimum effective tax rate of 15%. Such measures reflect Singapore’s commitment to international tax standards and ensuring a fair and equitable tax environment for businesses operating within its jurisdiction.
Stay informed and prepared for the evolving tax landscape of Singapore. Download our comprehensive overview of the budget highlights for 2024 to gain insights into the latest reforms and their implications for your business.
IMC Group