On 3 September 2019, the OECD released the compilation of outcomes of the second phase of peer reviews on BEPS Action 13.
Singapore was one of the 116 jurisdictions reviewed in the second phase of peer reviews. In the report, it was concluded that Singapore’s implementation of the Action 13 minimum standard meets all applicable terms of reference.
The terms of reference in the peer review document focus on three key aspects of Country-by-Country (CbC) Reporting: (a) the domestic legal and administrative framework, (b) the exchange of information framework, and (c) the confidentiality and appropriate use of CbC reports.
