by admin | Apr 3, 2024 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has released an Advance Ruling Summary No. 2/2024, addressing a key question regarding the classification of an exchange fee paid during a note exchange transaction for income tax purposes. Ruling Summary: Entity: The...
by admin | Apr 2, 2024 | Accounting, Goods and Services Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has announced a significant change to the Goods and Services Tax (GST) administrative concession applicable to trade-in transactions within the gold jewellery industry, effective 1 January 2025. Current Concession:...
by admin | May 14, 2022 | Accounting, Tech News
On or about 10 May 2022, the International Accounting Standards Board (IASB) conducts a Post-implementation Review (PIR) of each new IFRS Standard or major amendment. A PIR is a mandatory step in the due process for new IFRS Standards or major amendments to IFRS...
by admin | Apr 29, 2022 | Accounting, Tech News
On or about 26 April 2022, the International Accounting Standards Board (IASB) has published a Project Summary on its research project Pension Benefits that Depend on Asset Returns. From 2018 to 2021 the IASB researched the feasibility of amending IAS 19 Employee...
by admin | Mar 30, 2022 | Accounting, Tech News
On or about 25 Mar 2022, the Accounting Standards Council Singapore (ASC) has submitted its comment letter for the exposure draftS on ED/2021/9 Non-current Liabilities with Covenants (Proposed amendments to IAS 1) and ED/2021/10 Supplier Finance Arrangements (Proposed...
by admin | Mar 26, 2022 | Accounting, Tech News
On or about 24 Mar 2022, the IFRS Interpretations Committee has discussed the following agenda decision and tentatively decided not to add a standard-setting project to the work plan. Tentative Agenda Decision The IFRS Interpretations Committee received a request...
