Singapore-headquartered multinational enterprise (MNE) groups meeting specific requirements are mandated to submit Country-by-Country Reports (CbCR) to the Inland Revenue Authority of Singapore (IRAS) for financial years beginning on or after 1 Jan 2017.

Singapore will introduce immediate and long-term support measures to help businesses and workers cope with the effects of new US tariffs and broader global trade disruptions. Deputy Prime Minister Gan Kim Yong, chairing the new Singapore Economic Resilience Taskforce, warned that the escalating US-China trade war and potential new levies on key sectors like semiconductors could push Singapore toward a recession in 2025. Companies with operations linked to China are already experiencing order cancellations and deferrals.