by admin | May 22, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has designated withholding tax (WHT) compliance as a critical enforcement priority for the upcoming tax year, signaling intensified scrutiny on cross-border payments. On 3 April 2024, IRAS updated its Corporate Income...
by admin | May 21, 2024 | Accounting, Employment, Income Tax, Tech News
The Income Tax Board of Review has dismissed an appeal by a medical practitioner (identified as GIP) against the Inland Revenue Authority of Singapore’s (IRAS) application of the general anti-avoidance provision (Section 33 of the Income Tax Act). The ruling...
by admin | May 17, 2024 | Accounting, Goods and Services Tax, Income Tax, Tech News
The Singapore High Court and Income Tax Board of Review delivered two pivotal judgements in 2023 clarifying critical distinctions between capital/revenue receipts and plant/building classifications. These rulings carry significant implications for corporate...
by admin | May 14, 2024 | Goods and Services Tax, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) is actively auditing and challenging “99-to-1” co-ownership arrangements used by residential property purchasers seeking to circumvent Additional Buyer’s Stamp Duty (ABSD) liabilities. This enforcement...
by admin | May 11, 2024 | Accounting, Income Tax, Tech News
In a significant move to streamline financial reporting for smaller entities within corporate groups, the International Accounting Standards Board (IASB) has issued IFRS 19 Subsidiaries without Public Accountability: Disclosures. This new standard specifically targets...
