by admin | Jun 28, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has announced that the implementation of exchanges under the Organisation for Economic Co-operation and Development’s (OECD) amended Common Reporting Standard (CRS) is anticipated to commence in 2028. This...
by admin | Jun 27, 2025 | Accounting, Auditing, Goods and Services Tax, Income Tax, Tech News
The Income Tax Board of Review’s landmark decision in GIO v Comptroller of Income Tax [2024] SGITBR 1 has clarified critical principles for taxing property disposal gains, rejecting arguments that real estate profits are inherently capital in nature. The ruling,...
by admin | Jun 25, 2025 | Accounting, Income Tax, Tech News
The IFRS Foundation has published significant implementation guidance clarifying how entities should disclose information regarding climate transition plans under IFRS S2 Climate-related Disclosures. This guidance addresses a critical area for investors seeking...
by admin | Jun 25, 2025 | Accounting, Auditing, Tech News
The Singapore Accounting Standards Committee (ASC) has formally withdrawn Practice Statement 1 (PS 1) “Management Commentary” from the Financial Reporting Standards (FRS) framework, effective immediately as of 24 June 2025. Key Details of the Withdrawal:...
by admin | Jun 24, 2025 | Accounting, Employment, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has formally issued the annual Section 68(2) Notice to Employers for the Year of Assessment 2025. Published in the Government Gazette on 20 June 2025, this notice mandates all employers operating in Singapore, including...
