by admin | Feb 28, 2025 | Accounting, Income Tax, Tech News
In a significant ruling clarifying the tax treatment of complex debt transactions, the Singapore Income Tax Board of Review (the Board) has dismissed an appeal by debt-collecting agent GIQ against assessments levied by the Comptroller of Income Tax (CIT). The case,...
by admin | Feb 28, 2025 | Accounting, Income Tax, Tech News
The International Accounting Standards Board (IASB) has announced a significant update to the IFRS for SMEs Accounting Standard, a critical framework used by small and medium-sized entities (SMEs) in approximately 85 jurisdictions worldwide. This comprehensive update,...
by admin | Feb 28, 2025 | Accounting, Auditing, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has launched a dedicated online Foreign Currency Conversion Calculator to assist taxpayers and practitioners in determining exchange rates for income tax filing purposes. Key Features of the Tool: Data Source &...
by admin | Feb 27, 2025 | Accounting, Goods and Services Tax, Tech News
Significant procedural changes for appealing Goods and Services Tax (GST) decisions in Singapore will take effect on 1 April 2025. The newly published Goods and Services Tax (Appeals Procedure for Board of Review) (Amendment) Regulations 2025 amend the 2023...
by admin | Feb 27, 2025 | Accounting, Auditing, Company Law, Income Tax, Tech News
The Accounting and Corporate Regulatory Authority (ACRA) has published a summary detailing the resolution of significant technical issues impacting the filing of Annual Returns via its BizFile+ platform. These fixes address widespread user frustrations encountered...
by admin | Feb 26, 2025 | Accounting, Income Tax, Tech News
Significant amendments to Singapore’s Multinational Enterprise (Minimum Tax) Regulations 2024 came into force on 25 February 2025, following the publication of the Multinational Enterprise (Minimum Tax) (Amendment) Regulations 2025 in the Government Gazette. The...
