by admin | Nov 14, 2025 | Accounting, Auditing, Tech News
The financial reporting landscape for FY2025 continues to be shaped by external volatility and evolving regulatory expectations. Recent developments—including shifts in global tariff regimes, persistent supply-chain disruptions, and accelerating climate-related...
by admin | Nov 12, 2025 | Accounting, Auditing, Tech News
The Accounting Standards Committee (ASC) has released Amendments to SFRS(I) 19 Subsidiaries without Public Accountability: Disclosures and Amendments to FRS 119 Subsidiaries and Small Entities without Public Accountability: Disclosures.These amendments are effective...
by admin | Oct 21, 2025 | Accounting, Auditing, Goods and Services Tax, News
The Inland Revenue Authority of Singapore (IRAS) has released GST Essentials guidance series (Part 1) addressing the GST treatment on recovery of expenses—a recurring area of complexity for GST-registered businesses, particularly where expenses are recharged to...
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, 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The Singapore Accounting Standards Committee (ASC) has formally withdrawn Practice Statement 1 (PS 1) “Management Commentary” from the Financial Reporting Standards (FRS) framework, effective immediately as of 24 June 2025.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 15, 2025 | Accounting, Auditing, Employment, Income Tax, Tech News
The Singapore Income Tax Board of Review (the Board) has dismissed an appeal by three specialist doctors concerning the Comptroller of Income Tax’s recharacterisation of corporate profits as taxable individual income under anti-avoidance provisions. Case...
