by admin | Apr 18, 2024 | Accounting, Goods and Services Tax, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) and the Infocomm Media Development Authority (IMDA) have announced a phased mandate requiring all Goods and Services Tax (GST)-registered businesses to adopt the InvoiceNow network for transmitting e-invoice data to...
by admin | Apr 17, 2024 | Accounting, Income Tax, Tech News
Significant amendments to Singapore’s Income Tax Act 1947 (ITA) and related subsidiary legislation came into effect on 12 April 2024, operationalizing a framework to delegate specific tax incentive administration functions to designated public bodies. This...
by admin | Apr 13, 2024 | Accounting, Income Tax, Tech News
The International Accounting Standards Board (IASB) has issued IFRS 18 Presentation and Disclosure in Financial Statements, a significant new standard designed to improve the transparency, comparability, and usefulness of financial performance information for...
by admin | Apr 9, 2024 | Accounting, Income Tax, Tech News
The International Accounting Standards Board (IASB) has issued a critical addendum exposure draft as a supplement to its 2022 Exposure Draft concerning the IFRS for SMEs Accounting Standard. This supplementary document, open for comment until 31 July 2024, introduces...
by admin | Apr 6, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has updated its compliance guidance, outlining significant upcoming and ongoing areas of focus for taxpayers. Key priorities include heightened scrutiny on withholding tax compliance and persistent issues observed in...
by admin | Apr 5, 2024 | Accounting, Income Tax, Tech News
The Income Tax Board of Review (the Board) has dismissed a taxpayer’s appeal challenging the Comptroller of Income Tax’s assessment of gains from the sale of two properties as taxable income, ruling the taxpayer failed to demonstrate the assessments were...
