by admin | Mar 11, 2025 | Accounting, Goods and Services Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has formalised requirements for GST-registered businesses to adopt the nationwide InvoiceNow (Peppol) network for transmitting invoice data. On 7 March 2025, IRAS published the definitive e-Tax Guide “GST:...
by admin | Mar 6, 2025 | Accounting, Income Tax, Tech News
Singapore’s Inland Revenue Authority (IRAS) has issued an Advance Ruling Summary No. 2/2025, clarifing that gains realized by a fund manager from redeeming units in a feeder fund qualify as capital receipts and are not subject to income tax. Key Details of the Ruling...
by admin | Mar 5, 2025 | Accounting, Goods and Services Tax, Tech News
Businesses required to register for Goods and Services Tax (GST) on a prospective basis will benefit from a newly announced 2-month grace period before mandatory GST charging commences. The measure, announced by the Second Minister for Finance on 28 February 2025,...
by admin | Mar 5, 2025 | Accounting, Income Tax, Tech News
Singapore’s Inland Revenue Authority (IRAS) has issued a significant Advance Ruling Summary No. 3/2025, clarifying the tax treatment of a major banking sector restructuring. This ruling addresses the transfer of a Singapore bank’s entire business as a...
by admin | Mar 5, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a significant Advance Ruling (Summary No. 1/2025) clarifying the income tax characterization of perpetual securities and the eligibility of associated distributions for specific tax concessions. Published on...
