by admin | Jun 19, 2018 | Income Tax, Tech News
Section 72 of the Singapore Income Tax states that assessments to income tax are made by the Comptroller of Income Tax. An assessment is normally made on the basis of the information provided by a taxpayer or its agent in the relevant return of income. If the...
by admin | Jun 7, 2018 | Income Tax, Tech News
On 3 November 2016, the Inland Revenue Authority of Singapore (IRAS) has introduced the requirement for certain corporate taxpayers to file a Form for Reporting Related Party Transactions (RPT). The RPT data will help the IRAS in: assessing companies’ transfer pricing...
by admin | Apr 15, 2018 | Income Tax, Tech News
On 12 April 2018, the Inland Revenue Authority of Singapore (IRAS) has issued/updated the following e-Tax Guides: Income Tax Treatment of Real Estate Investment Trust Exchange-Traded Funds; and Income Tax Treatment of Real Estate Investment Trusts and Approved...
by admin | Mar 6, 2018 | Income Tax, Tech News
The DTAs, Limited Treaties and EOI Arrangements concluded by Singapore are available in PDF at the IRAS website. The agreements which are signed do not have the force of law has yet ratified. Singapore signed the OECD Convention on Mutual Administrative Assistance in...
by admin | Feb 23, 2018 | Income Tax, Tech News
The Income Tax (Transfer Pricing Documentation) Rules 2018 (S 93/2018) made on 21 February 2018, outline the requirements under section 34F(3) of the Singapore Income Tax Act in preparing transfer pricing documentation by an applicable entity with a related party in a...
by admin | Feb 6, 2018 | Accounting, Income Tax, Tech News
OVERVIEW OF FRS 109 Classification and Measurement of Financial Instruments (a) Financial assets are measured at their fair value at initial recognition, and subsequently measured at amortised cost (using the effective interest method), FVOCI or FVTPL. Fair value...
