by admin | Jun 8, 2024 | Accounting, Company Law, Goods and Services Tax, Income Tax, Tech News
Landmark tax cases from 2023 continue to reshape Singapore’s fiscal landscape, with two recent rulings clarifying critical issues for investment entities and trust structures. The decisions, analyzed at a Singapore Chartered Tax Professionals (SCTP) seminar, address...
by admin | Jun 4, 2024 | Accounting, Auditing, Company Law, Employment, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued updated guidance on the tax treatment of interest-free or subsidised loans provided to company directors, effective for Year of Assessment (YA) 2024. Key Change: New Benchmark Interest RateWith effect from 1...
by admin | Jun 4, 2024 | Accounting, Company Law, Goods and Services Tax, Income Tax, Tech News
Singapore’s Inland Revenue Authority (IRAS) has confirmed that Variable Capital Companies (VCCs) are eligible for the Corporate Income Tax (CIT) rebate measures announced in Budget 2024, provided they meet specific criteria. This update, alongside important...
by admin | May 31, 2024 | Accounting, Goods and Services Tax, Tech News
In a significant enforcement milestone, the Inland Revenue Authority of Singapore (IRAS) has secured the first conviction involving imprisonment under Section 64A of the Goods and Services Tax Act (GSTA) for the unauthorized collection of Goods and Services Tax (GST)....
by admin | May 31, 2024 | Accounting, Income Tax, Tech News
The International Accounting Standards Board (IASB) has issued targeted amendments to the classification, measurement, and disclosure requirements for financial instruments under IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures. These changes...
