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Singapore enacts Multinational Enterprise (Minimum Tax) Act 2024 to introduce BEPS 2.0 Pillar Two measures
The Multinational Enterprise (Minimum Tax) Act (MMT Act) was passed by the Singapore Parliament on 15 October 2024 and received Presidential assent on 8 November 2024 to become law in Singapore.
The MMT Act implements the Income Inclusion Rule under the Global Anti-base Erosion Model Rules of the Organisation for Economic Co-operation and Development (OECD)/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS), and domestic top up tax.