by admin | Jul 3, 2025 | Accounting, Goods and Services Tax, Tech News
In a move to streamline compliance for businesses, the Inland Revenue Authority of Singapore (IRAS) has eliminated the mandatory approval process for adopting the Gross Margin Scheme (GMS). This significant regulatory change took effect on 1 July 2025. Key Change:...
by admin | Jul 3, 2025 | Accounting, Goods and Services Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has updated its administrative concession governing input tax claims on fringe benefits, specifically addressing scenarios involving overseas suppliers. The changes, effective 1 July 2025, are detailed in the revised...
by admin | Jul 2, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has released significant updates to its e-Tax guides governing the income tax treatment of Real Estate Investment Trusts (REITs) and REIT Exchange-Traded Funds (ETFs), effective 30 June 2025. These updates incorporate...
by admin | Jul 2, 2025 | Accounting, Goods and Services Tax, Tech News
From 1 July 2025, businesses triggering Goods and Services Tax (GST) registration on a prospective basis will benefit from a 2-month grace period before commencing GST collection. This follows the official publication of the Goods and Services Tax Act 1993 (Amendment...
by admin | Jun 28, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has officially confirmed that the jurisdiction is expected to commence automatic exchanges of taxpayer information under the Crypto-Asset Reporting Framework (CARF) in 2028. This announcement provides a definitive...
by admin | Jun 28, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has announced that the implementation of exchanges under the Organisation for Economic Co-operation and Development’s (OECD) amended Common Reporting Standard (CRS) is anticipated to commence in 2028. This...
