by admin | Aug 2, 2018 | Accounting, Tech News
On 1 August 2018, the Accounting Standard Council (ASC) has issued the Amendments to SFRS(I) 1-19 and Amendments to FRS 19: Plan Amendment, Curtailment or Settlement. Paragraphs 101A, 122A, 123A and 179 are added and paragraphs 57, 99, 120, 123, 125, 126 and 156 are...
by admin | Aug 2, 2018 | Accounting, Tech News
On 1 August 2018, the Accounting Standard Council (ASC) has issued the SFRS(I) Practice Statement and FRS Practice Statement: Making Materiality Judgements. This Practice Statement should be read in the context of its objective, the Preface to Singapore Financial...
by admin | Jul 31, 2018 | Income Tax, Tech News
Country-by-Country Reporting (CbCR) is a form of reporting by multinational enterprises (MNEs) initiated by the Organisation for Economic Co-operation and Development (OECD) in the Base Erosion and Profit Shifting (BEPS) Action 13 Report. Some jurisdictions would be...
by admin | Jul 29, 2018 | Accounting, Tech News
On 27 July 2018, the Accounting Standard Council (ASC) has submitted comment letter on ED/2018/1 the Exposure Draft on Accounting Policy Changes (Proposed amendments to IAS 8) issued by the International Accounting Standards Board in March 2018. More details can be...
by admin | Jul 28, 2018 | Goods and Services Tax, Tech News
On 27 July 2018, the Inland Revenue Authority of Singapore (IRAS) has updated the Third Edition of the e-Tax Guide on GST: Fringe Benefits. The following were the amendments: Footnote 11 – to elaborate on the meaning of ‘any other cost’ in the explanation of business...
by admin | Jul 25, 2018 | Income Tax, Tech News
When the following specified nature of payments paid to non-resident companies by a person attracts withholding tax. The rate of withholding tax will depends on nature of these payments: Interest, commission, fee in connection with any loan or indebtedness; Royalty...
