by admin | Jun 27, 2025 | Accounting, Auditing, Goods and Services Tax, Income Tax, Tech News
The Income Tax Board of Review’s landmark decision in GIO v Comptroller of Income Tax [2024] SGITBR 1 has clarified critical principles for taxing property disposal gains, rejecting arguments that real estate profits are inherently capital in nature. The ruling,...
by admin | Jun 25, 2025 | Accounting, Income Tax, Tech News
The IFRS Foundation has published significant implementation guidance clarifying how entities should disclose information regarding climate transition plans under IFRS S2 Climate-related Disclosures. This guidance addresses a critical area for investors seeking...
by admin | Jun 25, 2025 | Accounting, Auditing, Tech News
The Singapore Accounting Standards Committee (ASC) has formally withdrawn Practice Statement 1 (PS 1) “Management Commentary” from the Financial Reporting Standards (FRS) framework, effective immediately as of 24 June 2025. Key Details of the Withdrawal:...
by admin | Jun 24, 2025 | Accounting, Employment, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has formally issued the annual Section 68(2) Notice to Employers for the Year of Assessment 2025. Published in the Government Gazette on 20 June 2025, this notice mandates all employers operating in Singapore, including...
by admin | Jun 24, 2025 | Accounting, Income Tax, Tech News
The International Accounting Standards Board (IASB) has issued a significant update to its Practice Statement on Management Commentary, marking a major step towards enhancing the clarity and comparability of narrative financial reporting worldwide. The revised...
by admin | Jun 21, 2025 | Accounting, Income Tax, Tech News
The Ministry of Finance (MOF) has initiated a public consultation on the draft Finance (Income Taxes) Bill 2025, seeking stakeholder feedback on significant proposed amendments to Singapore’s income tax framework. The consultation period runs from 18 June to 11...
