by admin | Apr 4, 2024 | Accounting, Income Tax, Tech News
Singapore’s Inland Revenue Authority (IRAS) has clarified that income derived from the sale of solar-generated electricity by Real Estate Investment Trusts (REITs) does not qualify for tax transparency treatment under the Income Tax Act 1947. The determination was...
by admin | Apr 3, 2024 | Accounting, Income Tax, Tech News
Singapore’s Inland Revenue Authority (IRAS) has released an Advance Ruling Summary No. 4/2024 on 1 April 2024, addressing whether the transfer of properties between related entities constitutes a capital transaction or revenue-based disposal. The ruling outlines a...
by admin | Apr 3, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has released an Advance Ruling Summary No. 2/2024, addressing a key question regarding the classification of an exchange fee paid during a note exchange transaction for income tax purposes. Ruling Summary: Entity: The...
by admin | Apr 2, 2024 | Accounting, Goods and Services Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has announced a significant change to the Goods and Services Tax (GST) administrative concession applicable to trade-in transactions within the gold jewellery industry, effective 1 January 2025. Current Concession:...
by admin | May 14, 2022 | Accounting, Tech News
On or about 10 May 2022, the International Accounting Standards Board (IASB) conducts a Post-implementation Review (PIR) of each new IFRS Standard or major amendment. A PIR is a mandatory step in the due process for new IFRS Standards or major amendments to IFRS...
