by admin | Oct 9, 2024 | Accounting, Goods and Services Tax, Income Tax, Tech News
Singapore’s Inland Revenue Authority (IRAS) has significantly expanded its eGIRO online application service, now enabling corporate taxpayers to enrol digitally for automated tax payments via the myTax Portal. This enhancement streamlines payment processes for...
by admin | Oct 5, 2024 | Accounting, Goods and Services Tax, Income Tax, Tech News
In a significant step towards implementing the global minimum tax framework, the Inland Revenue Authority of Singapore (IRAS) has launched a public consultation on two critical sets of subsidiary legislation: the proposed Multinational Enterprise (Minimum Tax) (GloBE...
by admin | Oct 4, 2024 | Accounting, Income Tax, Tech News
The Accounting Standards Committee (ASC) has released significant amendments to the Singapore Financial Reporting Standards (International) [SFRS(I)], setting effective dates for 2026 and 2027. Entities are urged to commence impact assessments and transition planning...
by admin | Oct 3, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has released a significant Advance Ruling Summary No. 5/2024, clarifying the income tax characterisation of subordinated perpetual securities. This ruling addresses critical questions for issuers and investors regarding...
by admin | Oct 2, 2024 | Accounting, Income Tax, Tech News
The International Accounting Standards Board (IASB) has formally concluded its Post-Implementation Review (PIR) of IFRS 15 Revenue from Contracts with Customers (known as SFRS(I) 15 in Singapore), issuing a positive verdict that the standard is meeting its objectives...
by admin | Oct 2, 2024 | Accounting, Goods and Services Tax, Tech News
Significant amendments to Singapore’s Goods and Services Tax (GST) regulations concerning public agency supplies came into effect yesterday, 1 October 2024. The Goods and Services Tax (Non-taxable Public Agency Supplies) (Amendment No. 2) Order 2024 officially...
