The Inland Revenue Authority of Singapore (IRAS) has issued an advance ruling (Summary No. 19/2025) clarifying the tax treatment of a specific intra-group business transfer. The ruling confirms that the transfer of two distinct business segments from a Singapore...

The Inland Revenue Authority of Singapore (IRAS) has published Advance Ruling Summary 20/2025, clarifying critical tax treatments for an exchange of Qualifying Debt Securities (QDS). The ruling provides essential guidance on the characterisation of cash premiums paid...

In a significant update for private company reporting, the International Accounting Standards Board (IASB) has finalised its amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures. The move completes the board's planned "catch-up" work, ensuring...

In a significant development for multinational enterprises (MNEs) operating in the region, Singapore’s landmark minimum tax legislation has been granted transitional qualified status by the Organisation for Economic Co-operation and Development (OECD). The OECD...

The accounting and tax sector is facing unprecedented cyber threats, with new data revealing that scam victims in Singapore suffered losses of a staggering S$1.1 billion in 2024—a 70% year-on-year increase. This alarming statistic, from the Singapore Police Force’s...

The Accounting and Corporate Regulatory Authority (ACRA) has announced a significant update to the Singapore Financial Reporting Standard (SFRS) for Small Entities, marking its most substantial overhaul to date. The amendments, published on 18 August 2025, are a...

In a move designed to lower the compliance burden and promote cost-effective financial reporting, the Accounting Standards Council (ASC) has announced a significant amendment to FRS 119 Subsidiaries and Small Entities without Public Accountability: Disclosures. This...