IRAS Rules Non-PEHE Meets Full Economic Substance Test for Foreign Gain Exemption
by admin | Aug 5, 2025 | Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued Advance Ruling Summary No. 13/2025, confirming that a non-pure equity-holding entity (non-PEHE) satisfied Section 10L economic substance requirements. This qualifies it as an "excluded entity," exempting...
IRAS Rules Call Option Premium Qualifies as Tax-Exempt Redemption Premium under QDS Scheme
by admin | Aug 5, 2025 | Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a significant advance ruling clarifying the tax treatment of call option premiums paid upon the redemption of Qualifying Debt Securities (QDS). Key Ruling In Advance Ruling Summary No. 12/2025, IRAS...
IRAS Rules Long-Term Property Transfer Gains as Non-Taxable Capital Receipts
by admin | Aug 4, 2025 | Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued an Advance Ruling (Income Tax) Summary No. 16/2025 clarifying the tax treatment of gains arising from the intra-group transfer of long-held investment properties. The ruling addresses a specific case...
Landmark Ruling Clarifies Section 10L Economic Substance Requirements for Singapore SPVs
by admin | Aug 4, 2025 | Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a significant advance ruling concerning the application of economic substance requirements under Section 10L of the Income Tax Act 1947 to a special purpose vehicle (SPV) structure in Advance Ruling (Income...
IRAS Rules Promissory Note Endorsement Does Not Constitute Receipt of Foreign Interest in Singapore
by admin | Aug 3, 2025 | Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued an Advance Ruling (Income Tax) Summary No. 15/2025, clarifying that the endorsement of promissory notes to settle intercompany interest receivables does not trigger the "received in Singapore" requirement for...
Singapore Extends YA 2025 CIT Rebate Grant to “Active Companies” with Key Conditions
by admin | Jul 31, 2025 | Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has confirmed an extension of the Year of Assessment (YA) 2025 Corporate Income Tax (CIT) Rebate cash grant, introducing a critical "active company" requirement tied to the grant's disbursement. To qualify for the...
IFRS Foundation Releases Near-Final Guidance on Reporting Uncertainties, Featuring Climate Examples
by admin | Jul 26, 2025 | Accounting, Tech News
The IFRS Foundation has published a set of near-final examples designed to assist companies in providing clearer, more consistent disclosures about significant uncertainties within their financial statements. Leveraging climate-related scenarios for practical...
Global E-Invoicing Mandates Accelerate: Singapore’s 5-Corner Model Offers Blueprint
by admin | Jul 16, 2025 | Accounting, Goods and Services Tax, Income Tax, Tech News
Over 60 countries have mandated e-invoicing or digital tax reporting frameworks, with global adoption projected to near universality by 2030. This shift promises enhanced tax compliance, reduced administrative burdens, and real-time transaction visibility for...
ISSB Releases Implementation Guidance for Industry-Specific Sustainability Disclosures
by admin | Jul 12, 2025 | Accounting, Tech News
The IFRS Foundation has published crucial educational guidance to assist companies in effectively applying the industry-specific materials underpinning the International Sustainability Standards Board (ISSB) Sustainability Disclosure Standards. This new guidance...
IFRS Foundation Launches Modular Learning Resources for Updated SME Standard
by admin | Jul 10, 2025 | Accounting, Income Tax, Tech News
The IFRS Foundation has significantly enhanced its educational support for the IFRS for SMEs Accounting Standard by releasing dedicated learning modules structured around each section of the standard. These modules are currently undergoing updates to reflect the...