by admin | Dec 10, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued significant clarifications regarding the tax treatment of foreign asset disposals under Section 10L of the Income Tax Act 1947. The updates, detailed in newly added footnotes and FAQs within the IRAS e-Tax...
by admin | Dec 5, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued updated guidance on its website concerning the Common Reporting Standard (CRS), introducing significant clarifications for Reporting Singapore Financial Institutions (Reporting SGFIs), particularly regarding...
by admin | Dec 4, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a significant Advance Ruling Summary No. 10/2024, clarifying the income tax treatment of “Tender Premium” paid during debt restructuring exercises. The ruling provides critical certainty for...
by admin | Dec 4, 2024 | Accounting, Income Tax, Tech News
In a significant clarification for debt markets, the Inland Revenue Authority of Singapore (IRAS) has issued an Advance Ruling Summary No. 9/2024, determining that specific fees paid during tender offers qualify for tax exemptions under the Qualifying Debt Securities...
by admin | Dec 4, 2024 | Accounting, Income Tax, Tech News
Singapore’s Inland Revenue Authority (IRAS) has issued a significant Advance Ruling Summary No. 8/2024, clarifying the conditions for tax exemption under Section 13W of the Income Tax Act 1947 (ITA) concerning gains from share disposals. This ruling provides...
by admin | Dec 3, 2024 | Accounting, Goods and Services Tax, Income Tax, Tech News
The Singapore Ministry of Finance (MOF) has formally initiated its annual pre-budget consultation process, calling on stakeholders to submit proposals for the upcoming Budget 2025. With the Budget scheduled for presentation to Parliament in February 2025, the MOF is...
