E-Submission of 2025 Commission Agent Income by 1 March 2025
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
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
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
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
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
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
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
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...
ASC Feedback on IASB Proposal to Refine Equity Accounting Rules
The Accounting Standards Committee (ASC), operating under the Accounting and Corporate Regulatory Authority (ACRA), has publicly endorsed key aspects of the International Accounting Standards Board's (IASB) proposed update to equity method accounting. The feedback,...
ACRA Releases 2025 Edition of Singapore Financial Reporting Standards (SFRS(I)s)
The Accounting and Corporate Regulatory Authority (ACRA) has formally issued the 2025 volume of the Singapore Financial Reporting Standards (International) [SFRS(I)s]. This edition is mandatory for annual reporting periods commencing on or after 1 January 2025. The...