IRAS Clarifies Economic Substance Test for Non-Pure Equity Holding Companies
Singapore’s Inland Revenue Authority (IRAS) has issued an advance ruling (Summary No. 3/2026) clarifying the application of Section 10L economic substance requirements to investment holding entities. The ruling addresses a common practical issue: the eligibility of...
IRAS Ruling Clarifies Economic Substance for Non-Pure Equity Holding Entities
The Inland Revenue Authority of Singapore (IRAS) has issued an advance ruling (Summary No. 2/2026) addressing the application of Section 10L economic substance requirements for an entity that is not a Pure Equity-Holding Entity (PEHE). This provides critical guidance...
IRAS Releases Eighth Edition of Transfer Pricing Guidelines: Key Implications for Taxpayers
The Inland Revenue Authority of Singapore (IRAS) has promulgated the eighth edition of its Transfer Pricing Guidelines (STPG 8th Ed), effective from 19 November 2025. The update refines Singapore’s alignment with OECD standards and introduces significant operational...
Final Regulatory Framework for Multinational Minimum Tax: Key Implications
The operational framework for the jurisdiction’s implementation of the OECD Pillar Two global minimum tax rules has been formally completed. The Multinational Enterprise (Minimum Tax) (Administrative Matters) Regulations 2025 and the (Amendment No. 2) Regulations 2025...
IRAS Releases Registration Form for Multinational Enterprise (Minimum Tax) Act 2024
The Inland Revenue Authority of Singapore (IRAS) has published the prescribed Form for Registration under the Multinational Enterprise (Minimum Tax) Act 2024 (MMTA). This form initiates the formal compliance process for MNE groups subject to Singapore’s Pillar Two...
Extension and Enhanced Tier for Insurance Tax Incentive Schemes
The Ministry of Finance has enacted amendments to key insurance sector tax regulations, extending critical incentive schemes and introducing a new concessionary tax tier. The changes impact the Income Tax (Exemption and Concessionary Tax Rate) Regulations for Life...
Singapore’s FY2026 Budget Statement – Schedule & Professional Anticipation
The Ministry of Finance has officially announced that the FY2026 Budget Statement will be delivered by Prime Minister and Minister for Finance, Mr. Lawrence Wong, before Parliament on Thursday, 12 February 2026. The Budget will be disseminated via live television and...
Tax Authority Codifies Long-Standing Exemptions for Shipping Finance
The Inland Revenue Authority has formally codified a suite of tax exemptions for shipping enterprises through the Income Tax (Shipping Enterprises — Section 13(4) Exemption) Notification 2025. This move provides long-awaited legislative clarity, retroactively applying...
IRAS Clarifies Hybrid Instrument Characterization
The Inland Revenue Authority of Singapore (IRAS) has issued the third edition of its e-Tax Guide on the Income Tax Treatment of Hybrid Instruments, effective 26 December 2025. This update provides critical clarifications for issuers, holders, and their professional...
ACRA issues Audit Practice Guidance No. 1 of 2025
The Accounting and Corporate Regulatory Authority (ACRA) has issued Audit Practice Guidance No. 1 of 2025, titled “Delivering Quality Audits in a Technology-Driven Environment”, addressing the implications of rapid technological change on audit quality and audit...