Proposed Tax Incentives to Revitalize Equities Market
by admin | Feb 18, 2025 | Accounting, Income Tax, Tech News
The Equities Market Review Group (EMRG), tasked with enhancing Singapore's capital markets, has unveiled its initial recommendations, centering on strategic tax incentives aimed at boosting the domestic equities ecosystem. The proposed measures, announced today,...
Final Guidance on GloBE Safe Harbours and Transition Rules
by admin | Feb 18, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has released its official responses to the public consultation on the draft regulations concerning Pillar Two Global Anti-Base Erosion (GloBE) Safe Harbours and Transition Rules. The feedback has directly shaped the...
E-Submission of 2025 Commission Agent Income by 1 March 2025
by admin | Feb 14, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a formal reminder requiring all commission-paying organisations registered under its e-Submission of Commission Income (CI) scheme to electronically file detailed commission agent income information for Year...
IRAS Opens EIS Cash Payout Applications for Sole Proprietors and Partnerships
by admin | Feb 13, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has announced the commencement of the Enterprise Innovation Scheme (EIS) Cash Payout application window for Year of Assessment (YA) 2025, with specific timelines for sole proprietorships and partnerships. Application...
Partnership Disclosure for Foreign Asset Disposal Gains
by admin | Feb 13, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a directive requiring specific disclosures from partnerships regarding gains derived from the disposal of foreign assets. The announcement targets gains arising in the basis period for the Year of Assessment...
AIS Filing Deadline Approaches, due by 1 March 2025
by admin | Feb 12, 2025 | Accounting, Employment, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has issued a critical reminder to employers regarding the upcoming deadline for submitting employment income information under the Auto-Inclusion Scheme (AIS) for Year of Assessment 2025 (income earned in 2024)....
Filing Notice for YA 2025 Corporate Income Tax Returns
by admin | Feb 10, 2025 | Accounting, Company Law, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has formally notified all applicable companies of their obligation to submit Income Tax Returns for the Year of Assessment (YA) 2025. The filing deadline is 30 November 2025. Entities Required to File The following...
Corporate Tax Compliance Areas, Offers Penalty Relief Pathways
by admin | Feb 6, 2025 | Accounting, Income Tax, Tech News
Singapore’s Inland Revenue Authority (IRAS) has issued critical clarifications on corporate tax compliance, focusing on foreign income reporting, loan fee deductions, foreign tax credits, and voluntary disclosure incentives. These clarifications aim to reduce common...
Common Reporting Standard Reportable Jurisdictions for 2024 Reporting
by admin | Feb 5, 2025 | Accounting, Income Tax, Tech News
The Inland Revenue Authority of Singapore (IRAS) has released the definitive list of Reportable Jurisdictions for Calendar Year 2024 under the Common Reporting Standard (CRS) framework. Reporting Singaporean Financial Institutions (FIs) must submit financial account...
IFRS releases Guidance for Targeted Climate Disclosures Under ISSB Standards
by admin | Feb 4, 2025 | Accounting, Company Law, Income Tax, Tech News
The IFRS Foundation has released a new implementation guide designed to assist companies in applying the International Sustainability Standards Board (ISSB) standards when reporting solely on climate-related information. The guide specifically addresses the correct...