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...
by admin | Mar 4, 2025 | Accounting, Stamp Duties, Tech News
The Inland Revenue Authority of Singapore (IRAS) has secured its first criminal convictions under Section 65(2) of the Stamp Duties Act 1929 for the provision of false and misleading information during a stamp duty audit. Two individuals, a mother and son, were...
by admin | Mar 4, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued an Advance Ruling Summary No. 4/2025, addressing critical tax implications for fund vehicles transitioning to passive investment holding structures. The ruling provides clarity for entities undergoing similar...
