IRAS Defers InvoiceNow Implementation Date for GST groups and GST divisions
The Inland Revenue Authority of Singapore (IRAS) has released further clarifications regarding the mandatory onboarding of GST-registered businesses onto the InvoiceNow network, confirming that specific implementation dates for GST groups and divisions will be...
Post-Budget 2026: Shifting Global Dynamics and Implications for Business
Since the release of Budget 2026 on 12 February, the external environment has shifted materially, introducing new complexities to the macroeconomic and tax outlook. This note provides a technical summary of key developments and their potential implications for...
Key Updates and Insights on Singapore’s Transfer Pricing Regime
This technical note covers the core principles of the regime, critical documentation requirements and common pitfalls, as well as mechanisms for dispute prevention and resolution. 1. Overview of Singapore’s Transfer Pricing (TP) Regime Singapore’s TP framework is...
Enhancing Tax Compliance Efficiency Through Automation
In recent developments within the tax compliance landscape, the focus has increasingly shifted towards leveraging technology to streamline workflows and enhance productivity. Following a review of emerging tools and methodologies, we provide this technical note on the...
Summary of Major Tax and Incentive Changes following Singapore Budget 2026
This technical note outlines the key tax and incentive measures introduced under Singapore Budget 2026, themed “Securing Our Future Together in a Changed World.” The updates reflect Singapore’s continued focus on maintaining competitiveness through targeted...
Second Protocol to Singapore-Cambodia DTA Enters into Force, Introducing Principal Purpose Test
The Second Protocol amending the Agreement between Singapore and Cambodia for the Avoidance of Double Taxation (DTA) entered into force on 6 March 2026, the Ministry of Finance has confirmed . Signed on 2 November 2023, this protocol introduces critical changes that...
Recent Income Tax Updates
This technical note summarizes key legislative amendments and administrative updates to Singapore’s corporate tax regime, effective from specified Years of Assessment (YAs), alongside compliance best practices and the prevailing penalty framework. 1. Section 10L:...
IRAS Tax Investigation Framework and Enforcement Approach
This technical note outlines IRAS investigation framework, enforcement powers, and case development lifecycle applied to tax evasion and fraud matters administered by the Inland Revenue Authority of Singapore (IRAS). 1. Mandate of the Investigation and Forensics...
Recent Income Tax Updates and Compliance Framework
This technical note summarizes key legislative amendments and administrative updates to Singapore’s corporate tax regime, effective from specified Years of Assessment (YAs), alongside compliance best practices and the prevailing penalty framework. 1. Section 10L:...
Corporate Tax Compliance – Key Considerations
This technical note outlines common corporate tax compliance issues and the relevant treatment frameworks following a review of current IRAS administrative positions and taxpayer obligations. 1. Foreign Source Income Tracking Under Singapore’s territorial basis of...