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...
Tax Board Distinguishes Capital from Employment Income in Share Sale Earn-Outs
A recent decision by the Singapore Income Tax Board of Review (UZF & Anor v Comptroller of Income Tax [2025] SGITBR 4) provides critical guidance on characterizing payments to key personnel in a company sale. The Board ruled that post-sale "Annual Additional...
Valuation Review Board Denies Amendment to Appeal Notice, Clarifies Procedural Boundaries
In a ruling with significant procedural implications for property tax appeals, the Valuation Review Board (VRB) has dismissed Shaw Towers Realty (Pte.) Limited's application for leave to amend its notice of appeal and proposed annual values ([2025] SGVRB 1). The...
Land Intensification Allowance (LIA) Scheme Updated
The Income Tax (Land Intensification Allowance) (Amendment) Regulations 2025, gazetted on 12 December 2025, formally update the LIA framework with effect for planning permission applications submitted on or after 1 January 2026. Core Amendments: The revisions modify...
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...