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 | Sep 3, 2024 | Accounting, Income Tax, Tech News
The Ministry of Finance (MOF) has published its detailed responses to feedback received during the public consultation on the draft Income Tax (Amendment) Bill 2024, conducted earlier this year. The responses address significant proposed changes to Singapore’s...
by admin | Sep 2, 2024 | Accounting, Income Tax, Tech News
The Ministry of Finance (MoF) has released its comprehensive responses to the public consultation feedback received on the draft Multinational Enterprise (Minimum Tax) Bill and its accompanying subsidiary legislation. The consultation, which sought input from...
by admin | Aug 31, 2024 | Accounting, Income Tax, Tech News
The International Accounting Standards Board (IASB) has published a proposed update to the IFRS Accounting Taxonomy 2024, integrating new and amended IFRS Standards finalized earlier this year. The taxonomy aims to standardize digital financial reporting under IFRS,...
by admin | Aug 31, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has released a significant Advance Ruling (Individual Income Tax) Summary No. 1/2024, clarifying the tax treatment of business transfers by limited liability partnerships (LLPs) to companies. This ruling addresses a...
by admin | Aug 24, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has completed the disbursement of the Corporate Income Tax (CIT) Rebate cash grant. Eligible tax resident and non-tax resident companies were credited with the S$2,000 grant by 25 August 2024. Expanded Eligibility...
