Singapore cbc reporting guide | KPMG | GLOBAL
Share with your friends

Singapore: Country-by-country reporting guide

Country-by-country reporting in Singapore

The Inland Revenue Authority of Singapore released a guide on country-by-country (CbC) reporting that requires multinational enterprise groups with a Singapore-based ultimate parent company to compile information on the group’s profits from worldwide operations. The issuance of the CbC reporting guide follows Singapore’s decision to participate in the inclusive framework under OECD’s base erosion and profit shifting (BEPS) project.


Related content

CbC reporting will only apply to multinational enterprise (MNE) groups when:

  • The MNE group’s ultimate parent entity is in Singapore.
  • The consolidate group’s revenue for the preceding financial year is at least SGD 1.125 billion (approximately €750 million).
  • The MNE group has subsidiaries or operations in at least one foreign jurisdiction.

When a Singapore entity is not the ultimate parent company, it will not be required to prepare a CbC report, given that the parent company may be responsible for filing a CbC report in its home country. However, a Singapore company may still be involved in the preparation of the CbC report, by providing the required information to the ultimate parent company.

The CbC reporting guide establishes the format of the CbC report; clarifies the definitions of certain key concepts and terms; provides guidance on the CbC report completion; clarifies that a non-Singapore headquartered MNE group is not required to submit a CbC report to the Singapore tax authorities; and clarifies that there is no intention to implement a secondary mechanism for non-Singapore headquartered MNE groups.

The CbC report is intended to supplement a taxpayer's transfer pricing documentation, and cannot be used as a substitute for the transfer pricing documentation. Details on the mode for transmitting the CbC report are expected to be provided at a later date. 


Read an October 2016 report [PDF 113 KB] prepared by the KPMG member firm in Singapore: Overview of Country-by-Country Reporting in Singapore

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal