IRAS Guidance on Section 13W Reforms: Key Changes for Corporate Disposal Gains
The Inland Revenue Authority of Singapore (IRAS) has released a detailed e-Tax Guide outlining proposed legislative changes to Section 13W of the Income Tax Act 1947. The amendments, effective for disposals on or after 1 January 2026, are designed to provide companies...
Singapore Appellate Court Rules Airport Runways, Taxiways and Aprons are “Structures”
In Changi Airport Group (Singapore) Pte Ltd v Comptroller of Income Tax [2025] SGHC(A) 20, the Appellate Division of the High Court has affirmed that airport runways, taxiways, and aprons (RTA) are to be classified as "structures" under the Singapore Income Tax Act....
Evolving Tax Audit Landscapes in Japan and Korea
Recent developments in Japan and Korea indicate a significant intensification of tax enforcement, driven by digital tools and a focus on cross-border transactions. Professionals must note critical shifts in audit procedures, the application of economic substance...
Update on Singapore’s Listing Corporate Income Tax Rebate
Enterprise Singapore has officially communicated that the specific eligibility criteria and application mechanics for the newly announced Listing Corporate Income Tax Rebate will not be finalized until Q4 2025 or Q1 2026. This update creates a period of uncertainty...
IRAS Updates Interest Rates for Taxable Benefit Computation on Employee Loans
The Inland Revenue Authority of Singapore (IRAS) has revised its published guidance on the tax treatment of interest-free or subsidised loans granted to company directors and employees who hold substantial shareholdings, or who exercise control or significant...
IRAS Highlights Enhanced Audit Focus and Expanding International Tax Compliance
The Inland Revenue Authority of Singapore (IRAS) has published its Annual Report for the Fiscal Year 2024/2025. The data indicates a continued emphasis on enforcement and the maturation of international tax transparency frameworks, presenting several key operational...
Amendments to FRS 119 – Extension of Reduced Disclosure Standard to Small Entities
The Accounting Standards Committee (ASC), under the Accounting and Corporate Regulatory Authority (ACRA), has finalised significant amendments to FRS 119 Subsidiaries and Small Entities without Public Accountability: Disclosures. The revised Standard, issued in August...
IRAS Clarifies GST Treatment on Supplier Rebates for Ancillary Services
The Inland Revenue Authority of Singapore (IRAS) has issued updated guidance clarifying that certain cash rebates received from suppliers are subject to GST. The authority asserts that such rebates are not mere discounts but constitute consideration for a separate...
IRAS Issues Material Clarification on Input Tax Claim Conditions
The Inland Revenue Authority of Singapore (IRAS) published significant updates on 2 September 2025 to its e-Tax guide, "Conditions for Claiming Input Tax." This release provides critical clarifications on the deductibility of Input GST for a range of common business...
Refundable Investment Credit Regulations Published
The Income Tax (Refundable Investment Credits) Regulations 2025 were formally gazetted on 1 September 2025 and are now in effect. This provides the critical operational and computational framework for the new Refundable Investment Credit (RIC) regime, as previously...