by admin | May 27, 2026 | Accounting, Income Tax, Tech News
The International Accounting Standards Board has released IFRS 20, a new standard addressing financial reporting by entities operating under certain forms of rate regulation. The standard is effective for annual reporting periods beginning on or after 1 January 2029,...
by admin | May 20, 2026 | Accounting, Goods and Services Tax, Income Tax, Tech News
Singapore’s business compliance environment is moving steadily towards digital filing, structured e-invoicing and software-driven automation. This shift means that accounting, payroll and invoicing systems should no longer be viewed only as back-office tools. They are...
by admin | May 18, 2026 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) is proposing to require all companies to submit corporate income tax assessment revisions and objections through its Revise/Object to Assessment digital service from 1 July 2027. The proposal is expected to be subject...
by admin | May 18, 2026 | Accounting, Income Tax, Tech News
Entities with interests in subsidiaries, joint arrangements, associates or unconsolidated structured entities should ensure that their SFRS(I) 12 disclosure assessment is complete and properly documented. The standard also requires transparent disclosure of...
by admin | May 18, 2026 | Accounting, Income Tax, Tech News
Entities applying SFRS(I) 15 must allocate the transaction price to each distinct performance obligation based on relative standalone selling prices (SSPs). When direct SSPs are unavailable, the standard permits estimation using prescribed approaches – adjusted market...
by admin | May 16, 2026 | Accounting, Income Tax, Tech News
IRAS has updated the administrative procedures for applications and claims under Singapore’s Refundable Investment Credit (RIC) scheme. The update clarifies the roles of the approving agencies, the claim verification process, utilisation options, and the procedures...
