by admin | Nov 25, 2025 | Accounting, Goods and Services Tax, Tech News
Singapore Customs administers the Temporary Import/Export Scheme (TIS), a facilitative regime allowing for: The temporary importation of goods for approved purposes for up to six (6) months with suspension of Goods and Services Tax (GST) and import duties. The...
by admin | Nov 19, 2025 | Accounting, Auditing, Goods and Services Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has refreshed and reorganised its online guidance relating to Goods and Services Tax (GST) on imported goods. The updates consolidate key examples previously embedded in FAQs into the main GST webpages, offering clearer...
by admin | Nov 18, 2025 | Accounting, Auditing, Goods and Services Tax, Tech News
In Part 2 of IRAS GST Essentials series on expense recovery, it examine cases where the recovery of expenses is ancillary to, or constitutes inputs used in, a primary supply of goods or services. This distinction is critical for GST-registered businesses when...
by admin | Nov 13, 2025 | Accounting, Goods and Services Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on the GST treatment of business gifts, introducing a new example that clarifies how output tax should be accounted for when the open market value (OMV) of the gift exceeds its cost. Key Update...
by admin | Nov 8, 2025 | Accounting, Goods and Services Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) issued an updated set of Frequently Asked Questions (FAQs) on 16 October 2025 relating to the GST InvoiceNow Requirement, incorporating a significant number of new clarifications. These updates reflect IRAS’...
by admin | Nov 8, 2025 | Accounting, Goods and Services Tax, Income Tax, Tech News
The Finance (Income Taxes) Bill 2025 (Bill No. 16/2025) was passed at its second reading in the Singapore Parliament on 6 November 2025. The Bill introduces targeted amendments to three key tax legislations: Income Tax Act 1947 (ITA) Multinational Enterprise (Minimum...
