GST Administrative Concessions for ASK and GST F7 Filings
IRAS has announced amendments to several existing administrative concessions under the Assisted Self-Help Kit (ASK) and introduced a new concession, alongside updates to scenarios where filing of GST F7 (Disclosure of Errors Form) is no longer required. These changes...
IRAS Updates Deductible vs Non-Deductible Business Expense Examples
The Inland Revenue Authority of Singapore (IRAS) has updated its public guidance on deductible and non-deductible business expenses for corporate taxpayers. The new examples provide additional clarity for companies preparing their tax computations and assessing...
New Guidance on Reporting Obligations for Commission-Paying Organisations
The Inland Revenue Authority of Singapore (IRAS) has released a new e-Tax Guide, Submit Self-Employment Income by Commission-Paying Organisations, outlining expanded reporting obligations for entities that pay commissions to self-employed individuals. The guidance...
GST Recovery of Expenses – When Recovery Is Not Ancillary to a Primary Supply
The Inland Revenue Authority of Singapore (IRAS) has released GST Essentials guidance series (Part 1) addressing the GST treatment on recovery of expenses—a recurring area of complexity for GST-registered businesses, particularly where expenses are recharged to...
Finance (Income Taxes) Bill Introduced in Parliament
The Finance (Income Taxes) Bill (No. 16/2025) was tabled for its first reading in Parliament on 14 October 2025. The Bill proposes amendments to three key statutes: Income Tax Act 1947 (ITA) Multinational Enterprise (Minimum Tax) Act 2024 (MMTA) Goods and Services Tax...
ASC Submits Comments on IFRS 16 Post-Implementation Review
The Accounting Standards Committee (ASC) has formally submitted its comment letter to the International Accounting Standards Board (IASB) in response to the Request for Information: Post-implementation Review of IFRS 16 Leases. The submission was published on the ASC...
MOF Issues Responses to Public Consultation on Proposed Finance (Income Taxes) Bill 2025
The Ministry of Finance (MOF) has released its formal responses to public feedback on the proposed Finance (Income Taxes) Bill 2025, addressing several key tax policy refinements. The consultation responses relate to provisions affecting corporate income tax...
Revised Automatic Exchange of Information(AEOI) Tax Identification Number (TIN) Guide
The Inland Revenue Authority of Singapore (IRAS) has released an updated version of the AEOI Tax Identification Number (TIN) Guide, providing enhanced direction for Reporting Singapore Financial Institutions (SGFIs) in fulfilling their Common Reporting Standard (CRS)...
GST Treatment and System Implementation for the Beverage Container Return Scheme (BCRS)
The Inland Revenue Authority of Singapore (IRAS) has issued critical guidance on the Goods and Services Tax (GST) treatment of deposits under the forthcoming Beverage Container Return Scheme (BCRS), effective 1 April 2026. The clarification confirms the BCRS deposit...
Clarifying Guidance on Foreign Tax Credit Claims
The Inland Revenue Authority of Singapore (IRAS) has released significant updates to its Foreign Tax Credit (FTC) framework, effective 30 September 2025. These updates provide critical clarification on two fronts: the eligibility of FTCs on unrealised gains and the...