ISSB Finalizes Targeted Amendments to IFRS S2 Climate Standard
The International Sustainability Standards Board (ISSB) has issued specific amendments to IFRS S2 Climate-related Disclosures, responding to widespread implementation feedback from preparers. The revisions modify greenhouse gas (GHG) emission disclosure requirements...
Delegation of Tax Incentive Administration Expanded to Key Agencies
Amendments gazetted on 9 December 2025 formally expand the administrative authority of three key public bodies—the Economic Development Board (EDB), Enterprise Singapore (ESG), and the Maritime and Port Authority of Singapore (MPA)—over specific income tax incentives....
Finance (Income Taxes) Act 2025 – Key Provisions and Implications
The Finance (Income Taxes) Act 2025 (the Act) formally entered into law upon receiving Presidential Assent on 25 November 2025, with publication in the Gazette on 8 December 2025. The legislation enacts several Budget 2025 proposals and introduces additional...
ASC Proposes Major Overhaul to Hedge Accounting for Net Risk Management
The Accounting Standards Committee (ASC) has issued Exposure Draft ED/2025/1, Risk Mitigation Accounting, marking a significant potential evolution in hedge accounting under IFRS 9 Financial Instruments and related disclosures in IFRS 7. The consultation period closes...
IASB Proposes Sweeping Overhaul of Interest Rate Risk Accounting for Financial Institutions
The International Accounting Standards Board (IASB) has published a landmark proposal for a new Risk Mitigation Accounting model, aimed at aligning reported financial performance with how institutions practically manage interest rate risk. Announced on 3 December...
High Court Ruling Underscores Documentation Critical for QDS Status in Debt Restructurings
The General Division of the High Court of Singapore has dismissed applications by two note issuers seeking to preserve Qualifying Debt Securities (QDS) tax status for amended notes following a scheme of arrangement. This ruling serves as a critical technical alert for...
MOF Seeks Pre-Budget Consultations
The Ministry of Finance (MOF) has formally initiated its public consultation for the Singapore Budget 2026, with submissions due by 12 January 2026. The call, structured around themes of economic advancement, job security, and social progression, signals potential...
Enhances Global Trading Incentive with Tiered Tax Structure
Singapore has amended its Global Trading Company (GTC) incentive regime, introducing significant changes applicable from Year of Assessment 2025. The revisions to Regulations 3, 4, and 5 of the Income Tax (Concessionary Rate of Tax for Global Trading Companies)...
Enhances Tax Incentive Framework with Delegated Rate-Setting Authority
In a significant administrative shift, Singapore’s Ministry of Finance has formally delegated the authority to specify precise concessionary tax rates under four key incentive schemes to the Economic Development Board (EDB) and Enterprise Singapore (ESG). The...
Amendments to Tax Incentive Regulations for Partnerships
The Income Tax (Tax Incentives for Partnerships) Regulations 2012 have been amended, effective 4 November 2022 or 30 October 2023. These changes impact the qualifying conditions for enhanced writing-down allowances on intellectual property rights under the Enterprise...