The Inland Revenue Authority of Singapore (IRAS) has issued a significant Advance Ruling Summary No. 10/2024, clarifying the income tax treatment of "Tender Premium" paid during debt restructuring exercises. The ruling provides critical certainty for issuers and...

In a significant clarification for debt markets, the Inland Revenue Authority of Singapore (IRAS) has issued an Advance Ruling Summary No. 9/2024, determining that specific fees paid during tender offers qualify for tax exemptions under the Qualifying Debt Securities...

Singapore's Inland Revenue Authority (IRAS) has issued a significant Advance Ruling Summary No. 8/2024, clarifying the conditions for tax exemption under Section 13W of the Income Tax Act 1947 (ITA) concerning gains from share disposals. This ruling provides crucial...

Singapore and New Zealand have formalized a key mechanism for resolving tax treaty disputes through arbitration. The two nations signed a Memorandum of Arrangement (Arrangement) on 18 and 21 November 2024, detailing the implementation of mandatory binding arbitration...

The IFRS Foundation has announced significant updates to its website, providing essential resources for accounting professionals, regulators, and stakeholders focused on global financial and sustainability reporting standards. The latest additions encompass new...

In a significant move towards enhanced tax transparency for crypto assets, Singapore has formally signed two key international agreements administered by the Organisation for Economic Co-operation and Development (OECD). The Inland Revenue Authority of Singapore...

Significant amendments to Singapore's income tax framework are now law following the Presidential assent of the Income Tax (Amendment) Act 2024 on 8 November 2024. The Act was officially published in the Government Gazette on 27 November 2024. The legislation codifies...

Singapore has formally enacted the Multinational Enterprise (Minimum Tax) Act 2024, marking a significant step in implementing the global tax agreement targeting large multinational corporations. President Tharman Shanmugaratnam assented to the legislation on 8...

Qualifying shipping entities (QSEs) operating under key Singapore maritime incentive schemes now have the option to be taxed under a newly introduced Alternative Net Tonnage Tax (NTT) regime. This significant tax policy shift, initially announced in Tax Budget 2024,...