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Singapore's tax-to-GDP ratio was 14.1% in 2017, below the OECD average (34.2%) by 20.1 percentage points, and also below the LAC and Africa (21)* averages (22.8% and 18.2%, respectively).
These country profiles focus on countries' domestic legislation regarding key transfer pricing principles, including the arm's length principle, transfer pricing methods, comparability analysis, intangible property, intra-group services, cost contribution agreements, transfer pricing documentation, administrative approaches to avoiding and resolving disputes, safe harbours and other implementation measures.
Malta and Singapore have deposited their instruments of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting with the OECD’s Secretary-General, Angel Gurria, therewith underlining their strong commitment to prevent the abuse of tax treaties and base erosion and profit shifting (BEPS) by multinational enterprises.
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Reservations and notifications under the Multilateral Instrument for BEPS Tax Treaty Related Measures provided for Singapore, deposited with the instrument of ratification, approval, or acceptance.
The Global Forum published today seven peer review reports assessing compliance with the international standard on transparency and exchange of information on request (EOIR).
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Singapore - Transfer Pricing Country Profile
The fourth annual edition of Revenue Statistics in Asian Countries covers seven countries, including Kazakhstan for the first time. It shows that the tax-to-GDP ratio in all these countries are lower than the OECD average of 34.3% in 2015, which highlights that scope remains for increasing tax mobilisation, especially in Indonesia, Kazakhstan, Malaysia and the Philippines to achieve sustainable growth.