by admin | Aug 19, 2025 | Accounting, Income Tax, Tech News
In a move designed to lower the compliance burden and promote cost-effective financial reporting, the Accounting Standards Council (ASC) has announced a significant amendment to FRS 119 Subsidiaries and Small Entities without Public Accountability: Disclosures. This...
by admin | Aug 8, 2025 | Goods and Services Tax, Tech News
IRAS has completed over 2,800 GST audits across various industries for the 2024/2025 period, resulting in the recovery of $205 million in taxes and penalties. IRAS has published selected audit cases and details of its compliance programmes on its website. Key issues...
by admin | Aug 5, 2025 | Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued Advance Ruling Summary No. 13/2025, confirming that a non-pure equity-holding entity (non-PEHE) satisfied Section 10L economic substance requirements. This qualifies it as an “excluded entity,”...
by admin | Aug 5, 2025 | Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a significant advance ruling clarifying the tax treatment of call option premiums paid upon the redemption of Qualifying Debt Securities (QDS). Key Ruling In Advance Ruling Summary No. 12/2025, IRAS...
by admin | Aug 4, 2025 | Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued an Advance Ruling (Income Tax) Summary No. 16/2025 clarifying the tax treatment of gains arising from the intra-group transfer of long-held investment properties. The ruling addresses a specific case...
