by admin | Dec 12, 2024 | Accounting, Income Tax, Tech News
Singapore’s Inland Revenue Authority (IRAS) has published key resources to implement the newly amended Common Reporting Standard (CRS), following the Organisation for Economic Co-operation and Development’s (OECD) first comprehensive review of the framework. The...
by admin | Dec 11, 2024 | Accounting, Income Tax, Tech News
Businesses can continue claiming tax benefits under the Enterprise Innovation Scheme (EIS) for qualifying training costs incurred on expired EIS-eligible courses, provided expenses were paid before the course’s official support end date. The Inland Revenue Authority...
by admin | Dec 10, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued significant clarifications regarding the tax treatment of foreign asset disposals under Section 10L of the Income Tax Act 1947. The updates, detailed in newly added footnotes and FAQs within the IRAS e-Tax...
by admin | Dec 5, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued updated guidance on its website concerning the Common Reporting Standard (CRS), introducing significant clarifications for Reporting Singapore Financial Institutions (Reporting SGFIs), particularly regarding...
by admin | Dec 4, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a significant Advance Ruling Summary No. 10/2024, clarifying the income tax treatment of “Tender Premium” paid during debt restructuring exercises. The ruling provides critical certainty for...
