by admin | Jul 3, 2025 | Accounting, Goods and Services Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has updated its administrative concession governing input tax claims on fringe benefits, specifically addressing scenarios involving overseas suppliers. The changes, effective 1 July 2025, are detailed in the revised...
by admin | Jul 2, 2025 | Accounting, Goods and Services Tax, Tech News
From 1 July 2025, businesses triggering Goods and Services Tax (GST) registration on a prospective basis will benefit from a 2-month grace period before commencing GST collection. This follows the official publication of the Goods and Services Tax Act 1993 (Amendment...
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 14, 2025 | Accounting, Goods and Services Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has mandated GST-registered businesses to adopt InvoiceNow, Singapore’s nationwide e-invoicing network developed by the Infocomm Media Development Authority (IMDA). Key Implementation Details: Phased Rollout: The GST...
by admin | May 23, 2025 | Accounting, Auditing, Goods and Services Tax, Income Tax, Tech News
Singapore High Court’s pivotal decision in Changi Airport Group (Singapore) Pte Ltd v Comptroller of Income Tax [2024] SGHC 281 (“CAG”) has established critical distinctions for capital allowance claims under the Income Tax Act (ITA), reshaping asset...
by admin | May 14, 2025 | Accounting, Goods and Services Tax, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a reminder to Goods and Services Tax (GST)-registered businesses regarding common errors identified during its audit programme, particularly targeting entities with low-value GST refund claims. A key...
