Singapore Pillar Two Registration: Steps Multinational Groups Should Take
Singapore’s MNE groups must register with IRAS from 2025, with specific entity and timeline requirements.
Multinational corporations operating in Singapore must register with the Inland Revenue Authority of Singapore (IRAS) starting from January 2025, provided they have a Singapore-based entity or qualify under reverse hybrid provisions. This requirement applies to multinational enterprise (MNE) groups whose financial years commence on or after January 1, 2025. The registration process involves completing a one-time submission with IRAS.
Eligibility for MNE groups is contingent on having at least one constituent entity or joint venture established in Singapore, or alternatively, a reverse hybrid entity incorporated within the country. This criterion ensures that only relevant international groups with a presence or activity in Singapore are subjected to the registration mandate.
For MNE groups with fiscal years shorter than 12 months, beginning and ending in 2025, IRAS provides an extension if the standard registration timeline cannot be met within six months of the fiscal year-end. The ultimate parent entity (UPE) assumes the responsibility of notifying IRAS by submitting the necessary registration information, thereby facilitating centralized compliance for these multinational groups.
Written by urgent.news from Thailand Business News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
