IRAS Refines Valuation Requirements for IP Tax Allowances (s19B claims)
In a move to enhance certainty for businesses claiming writing-down allowances on intellectual property rights (IPRs), the Inland Revenue Authority of Singapore (IRAS) has issued critical clarifications to its e-Tax Guide. The update, released on 30 January 2026,...
IRAS Updates Group Relief System and Highlights Common Filing Errors
The Inland Revenue Authority of Singapore (IRAS) has released a revised e-Tax Guide for the "Group Relief System" on 30 January 2026, introducing critical updates for corporate taxpayers. For accounting and finance professionals, the revisions signal a need for...
IRAS Makes InvoiceNow a Legal Condition for GST Voluntary Registration
The Inland Revenue Authority of Singapore (IRAS) has issued a new e-Tax Guide on 30 January 2026, formalizing the conditions for Goods and Services Tax (GST) voluntary registration that now carry the force of law. For accountants and finance professionals, the most...
IRAS Elevates Selected e-Tax Guide Conditions to Legally Binding Status
The Inland Revenue Authority of Singapore (IRAS) has updated several key e-Tax Guides to formally prescribe that specific conditions and requirements outlined within them now carry the force of law. Effective 30 January 2026, this change elevates what were previously...
IRAS Clarifies Comptroller’s Conditions under GST Schemes
The Inland Revenue Authority of Singapore (IRAS) updated several e-Tax Guides on 30 January 2026 to provide crucial clarity on the legal status of administrative conditions. The tax authority confirmed that specific conditions and requirements prescribed by the...
Understanding the Accounting and Financial Dynamics of Credit Card Transactions
This technical note summarizes the key financial and accounting mechanics underlying credit card transactions. For many businesses and professionals, credit cards are a routine part of daily life, yet the complex ecosystem and associated accounting implications often...
India Tax Tribunal Clarifies Deductibility of Head Office Cross-Charges to Indian PE
The Delhi Bench of the Income-tax Appellate Tribunal (ITAT) has ruled that operational costs incurred by a foreign head office (HO) and cross-charged to its Indian branch (permanent establishment, PE) are deductible in computing the PE’s taxable profits in India,...
Staged Commencement for EIS Cash Payout Digital Service (YA 2026)
The Inland Revenue Authority of Singapore (IRAS) has announced the implementation timeline for the "Apply for Enterprise Innovation Scheme (EIS) Cash Payout" digital service for the Year of Assessment (YA) 2026. Professionals should note the critical, entity-specific...
OECD Updates Guidance on Amended CRS and CARF: Key Implications for Reporting FIs
The Inland Revenue Authority of Singapore (IRAS) has flagged critical updates to the OECD’s technical FAQs for the Amended Common Reporting Standard (CRS) and the new Crypto-Asset Reporting Framework (CARF). Released in December 2025, this guidance demands immediate...
ACRA publishes review and updates to the Audit Quality Indicators Disclosure Framework
The Accounting and Corporate Regulatory Authority (ACRA) has published a report outlining the outcomes of its 2025 review of the Audit Quality Indicators (AQI) Disclosure Framework and the corresponding enhancements to the Framework. Background and purpose of AQIs...