Income Tax – Country-by-Country Reporting (Third Edition)


The IRAS has issued the third edition of the Country-by-Country Reporting e-Tax Guide on 7 August 2018 by amending the answer to Question 11 of the FAQ.

Question 11: Can rounded figures be reported in the CbC report?

Companies can report rounded figures in their CbC report if the source data from which those amounts have been obtained consist of rounded figures.

Companies should ensure that the rounding does not have a material impact in terms of understanding the CbC report.

When rounding off to the nearest thousand, companies would still have to show the figures in full. For example, if the rounded figure is S$1,126,000, it should be entered in the CbC report as S$1,126,000 and not S$1,126.

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