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 4, 2024 | Accounting, Income Tax, Tech News
The Accounting Standards Committee (ASC) has released significant amendments to the Singapore Financial Reporting Standards (International) [SFRS(I)], setting effective dates for 2026 and 2027. Entities are urged to commence impact assessments and transition planning...
by admin | Oct 3, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has released a significant Advance Ruling Summary No. 5/2024, clarifying the income tax characterisation of subordinated perpetual securities. This ruling addresses critical questions for issuers and investors regarding...
by admin | Oct 2, 2024 | Accounting, Income Tax, Tech News
The International Accounting Standards Board (IASB) has formally concluded its Post-Implementation Review (PIR) of IFRS 15 Revenue from Contracts with Customers (known as SFRS(I) 15 in Singapore), issuing a positive verdict that the standard is meeting its objectives...
by admin | Sep 28, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a formal reminder to all incorporated entities regarding the compulsory filing of Year of Assessment (YA) 2024 Corporate Income Tax Returns. The submission deadline is 30 November 2024, with no exceptions for...
by admin | Sep 25, 2024 | Accounting, Income Tax, Tech News
In a significant move responding to global stakeholder demand, the International Accounting Standards Board (IASB) has formally initiated a research project focused on reviewing and improving the reporting requirements for the statement of cash flows and related...
