Singapore gazettes the Multinational Enterprise (Minimum Tax) Act 2024 (Commencement) Notification 2025

With this, Section 85 and 86 of the Multinational Enterprise (Minimum Tax) Act 2024 (“MMT Act”) in relation to amendments to the Singapore Income Tax Act came into effect on 20 March 2025.

These sections give effect to consequential changes on matters such as the exclusion of any foreign qualified domestic minimum top-up tax qualifying as tax paid for the purpose of Section 13(8) of the Singapore Income Tax Act foreign source income exemption.