by admin | Feb 28, 2025 | Accounting, Income Tax, Tech News
In a significant ruling clarifying the tax treatment of complex debt transactions, the Singapore Income Tax Board of Review (the Board) has dismissed an appeal by debt-collecting agent GIQ against assessments levied by the Comptroller of Income Tax (CIT). The case,...
by admin | Feb 28, 2025 | Accounting, Income Tax, Tech News
The International Accounting Standards Board (IASB) has announced a significant update to the IFRS for SMEs Accounting Standard, a critical framework used by small and medium-sized entities (SMEs) in approximately 85 jurisdictions worldwide. This comprehensive update,...
by admin | Feb 28, 2025 | Accounting, Auditing, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has launched a dedicated online Foreign Currency Conversion Calculator to assist taxpayers and practitioners in determining exchange rates for income tax filing purposes. Key Features of the Tool: Data Source &...
by admin | Feb 27, 2025 | Accounting, Goods and Services Tax, Tech News
Significant procedural changes for appealing Goods and Services Tax (GST) decisions in Singapore will take effect on 1 April 2025. The newly published Goods and Services Tax (Appeals Procedure for Board of Review) (Amendment) Regulations 2025 amend the 2023...
by admin | Feb 27, 2025 | Accounting, Auditing, Company Law, Income Tax, Tech News
The Accounting and Corporate Regulatory Authority (ACRA) has published a summary detailing the resolution of significant technical issues impacting the filing of Annual Returns via its BizFile+ platform. These fixes address widespread user frustrations encountered...
