by admin | May 25, 2024 | Accounting, Auditing, Income Tax, Tech News
The International Accounting Standards Board (IASB) has released an exposure draft proposing significant updates to the IFRS Accounting Taxonomy. These amendments are designed to fully incorporate the new presentation and disclosure mandates established by IFRS 18...
by admin | May 24, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has enhanced its digital resources for taxpayers making payments to non-residents with the introduction of two new online tools: the Withholding Tax Applicability Guide for Non-resident Individuals and the Withholding...
by admin | May 22, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has designated withholding tax (WHT) compliance as a critical enforcement priority for the upcoming tax year, signaling intensified scrutiny on cross-border payments. On 3 April 2024, IRAS updated its Corporate Income...
by admin | May 21, 2024 | Accounting, Employment, Income Tax, Tech News
The Income Tax Board of Review has dismissed an appeal by a medical practitioner (identified as GIP) against the Inland Revenue Authority of Singapore’s (IRAS) application of the general anti-avoidance provision (Section 33 of the Income Tax Act). The ruling...
by admin | May 17, 2024 | Accounting, Goods and Services Tax, Income Tax, Tech News
The Singapore High Court and Income Tax Board of Review delivered two pivotal judgements in 2023 clarifying critical distinctions between capital/revenue receipts and plant/building classifications. These rulings carry significant implications for corporate...
by admin | May 14, 2024 | Goods and Services Tax, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) is actively auditing and challenging “99-to-1” co-ownership arrangements used by residential property purchasers seeking to circumvent Additional Buyer’s Stamp Duty (ABSD) liabilities. This enforcement...
