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 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...
by admin | Sep 10, 2024 | Accounting, Goods and Services Tax, Income Tax, Tech News
The Singapore Parliament has taken a decisive step towards implementing the OECD/G20 global minimum tax regime with the first reading of the Multinational Enterprise (Minimum Tax) Bill (Bill No. 33/2024) on 9 September 2024. This pivotal legislation aims to transpose...
by admin | Sep 5, 2024 | Accounting, Goods and Services Tax, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) and Infocomm Media Development Authority (IMDA) have finalized a phased mandate for InvoiceNow, Singapore’s PEPPOL-based e-invoicing network. The move aims to digitize tax compliance and streamline business processes,...
by admin | Aug 22, 2024 | Accounting, Goods and Services Tax, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has announced several significant updates to its website, including the introduction of new case escalation forms, the expansion of its international exchange relationships, and revisions to key income tax and GST forms...
by admin | Aug 8, 2024 | Accounting, Goods and Services Tax, Income Tax, Tech News
The Monetary Authority of Singapore (MAS) has introduced a mandatory requirement for screening reports to accompany all new applications for key tax incentives made by family office-managed fund vehicles, effective 1 October 2024. Key Details: New Mandatory...
