by admin | Nov 4, 2024 | Accounting, Income Tax, Tech News
The IFRS Foundation has published a significant batch of new technical content and meeting materials across its key standard-setting boards and advisory bodies. These updates, crucial for accounting professionals, regulators, and stakeholders in global financial...
by admin | Nov 2, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has published an Advance Ruling Summary No. 7/2024, provides critical clarification on the income tax characterization of fixed-rate subordinated perpetual securities. This ruling addresses significant questions for...
by admin | Nov 2, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a significant Advance Ruling Summary No. 6/2024, clarifying the income tax treatment of discounts applied when businesses sell trade receivables to banks. This ruling addresses a key question for companies...
by admin | Oct 29, 2024 | Accounting, Goods and Services Tax, Tech News
The Ministry of Finance (MOF) has formally responded to public feedback on the draft Customs (Amendment) Bill 2024, declining requests to modify the term “remove” concerning dutiable goods in licensed warehouses nearing licence expiry or withdrawal. The...
by admin | Oct 26, 2024 | Accounting, Income Tax, Tech News
The Accounting Standards Council (ASC) of Singapore has issued a significant new standard aimed at reducing the reporting burden for certain entities. SFRS(I) 19 Subsidiaries without Public Accountability: Disclosures has been formally released, providing a tailored...
by admin | Oct 18, 2024 | Accounting, Income Tax, Tech News
Significant amendments to Singapore’s cornerstone investment incentive legislation were tabled in Parliament this week. The Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill 2024 (Bill No. 41/2024) received its first reading on 15 October...
