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...
by admin | Feb 6, 2018 | Accounting, Income Tax, Tech News
The Accounting Standards Council issued Financial Reporting Standard (FRS) 115 Revenue from Contracts with Customers on 19 Nov 2014. FRS 115 applies to contracts which an entity has with its customers. It is effective from annual periods beginning on or after 1...
by admin | Jan 3, 2018 | Accounting, Income Tax, Tech News
OVERVIEW OF FRS 39 Classifications of financial instruments (a) FRS 39 has 4 clearly defined categories of financial assets: (a) Financial assets at fair value through profit or loss; – Held for trading; – Designated as at fair value through profit or...
by admin | Jan 3, 2018 | Accounting, Income Tax, Tech News
Accounting for Financial Instruments The accounting treatment for financial assets and financial liabilities is governed under the Singapore Financial Reporting Standards (SFRS) or the Financial Reporting Standard for Small Entities (SFRS for Small Entities) for...
by admin | Nov 22, 2017 | Income Tax, Tech News
FRS 109 Financial Instruments will apply to entities for annual periods beginning on or after 1 January 2018. On or about 22 November 2017, the Inland Revenue Authority of Singapore (IRAS) has published an e-Tax Guide which provides guidance on the tax treatment for...
