Singapore recently signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS).
The Multilateral convention was signed in Paris by the Singapore Senior Minister of State, The Ministry of Culture and Trade & Industry. This will be Singapore’s first signing ceremony for the Multilateral Instrument, meaning the city-state now join over other 60 jurisdictions that have already signed the agreement.
Singapore is among the earliest non-G20, non-OECD jurisdiction to have joined the scheme for all BEPS Framework. Singapore continues to shape its tax structure to show commitment to the principle behind the Base Erosion and Profit Shifting project; which is that all profit arising from any given jurisdiction should be attributable to where substantial economic activities were originally conducted.