by admin | Feb 12, 2025 | Accounting, Employment, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a critical reminder to employers regarding the upcoming deadline for submitting employment income information under the Auto-Inclusion Scheme (AIS) for Year of Assessment 2025 (income earned in 2024)....
by admin | Oct 14, 2024 | Accounting, Employment, Income Tax, Tech News
Significant changes to the tax treatment of platform workers are imminent following the assent of the Platform Workers Act 2024 on 30 September 2024. The Act amends the Income Tax Act 1947 and establishes a new employment classification for platform workers, situated...
by admin | Jun 26, 2024 | 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 2024. Published in the Government Gazette on 21 June 2024, the notice mandates all employers operating in Singapore, including non-resident...
by admin | Jun 12, 2024 | Accounting, Employment, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has announced a strategic shift towards enhancing individual income tax compliance through upstream interventions and maximizing voluntary adherence. Updated guidance on the IRAS website outlines a multi-pronged...
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 | May 21, 2024 | Accounting, Employment, Income Tax, Tech News
The Income Tax Board of Review has dismissed an appeal by a medical practitioner (identified as GIP) against the Inland Revenue Authority of Singapore’s (IRAS) application of the general anti-avoidance provision (Section 33 of the Income Tax Act). The ruling...
