e-Tax Guide: Tax Risk Management and Control Framework for Corporate Income Tax
by admin | Feb 18, 2022 | Accounting, Income Tax, Tech News
On or about 17 Feb 2022, the Inland Revenue Authority of Singapore (IRAS) has published the first edition of the e-Tax Guide on Tax Risk Management and Control Framework for Corporate Income Tax. The e-Tax guide on Tax Risk Management and Control Framework for...
Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill 2022
by admin | Feb 16, 2022 | Income Tax, Tech News
On or about 14 Feb 2022, the Parliament of Singapore website has released to a Bill containing changes to the Economic Expansion Incentives (Relief from Income Tax) Act 1967 (the Act) has completed its passage through parliament and awaits assent. The Economic...
Personal tax reliefs and rebates – IRAS website updated
by admin | Feb 11, 2022 | Employment, Income Tax, Tech News
On or about 9 Feb 2022, the Inland Revenue Authority of Singapore (IRAS) has updates its website contents to information on personal tax reliefs and rebates. An individual taxpayer is are eligible for personal reliefs and rebates if he/she is a Singapore Tax Resident...
Object to Assessment for Individual Tax Filing
by admin | Jan 31, 2022 | Employment, Income Tax, Tech News
On or about 29 Jan 2022, the Inland Revenue Authority of Singapore (IRAS) has updated the website content with regards to make changes after filing the original Income Tax Return, i.e., re-file via myTax Portal. After filing After a taxpayer have filed his or her...
The ASC issues SFRS (International) 2022 Volume
by admin | Jan 13, 2022 | Accounting, Tech News
On or about 11 Jan 2022, the Accounting Standards Council (ASC) Singapore has issued a 2022 Singapore Financial Reporting Standards (International) (SFRS(I)s) effective for annual reporting periods starting from 1 January 2022. The SFRS(I)s include standards and...
Revised Edition of Singapore Acts of Parliament
by admin | Jan 8, 2022 | Company Law, Goods and Services Tax, Income Tax, Property Tax, Stamp Duties, Tech News
On or about 31 Dec 2021, under s 10 of the Revised Edition of the Laws Act 1983, the Law Revision Commission has published a revised edition of the following Acts: Companies Act 1967Economic Expansion Incentives (Relief from Income Tax) Act 1967Estate Duty Act...
Challenges faced on e-Commerce
by admin | Jan 6, 2022 | Goods and Services Tax, Tech News
Determining whether a supply is a B2B supply or B2C supply Under the Overseas Vendor Registration (OVR) regime, overseas suppliers are required to treat the services as supplied to a non-GST registered customer and charge and account for GST on their supplies. This is...
Regulations on refunds of GST released
by admin | Jan 5, 2022 | Goods and Services Tax, Tech News
Where a return shows that the amount of input tax paid by the taxable person has exceeded the output tax which the taxable person has charged to the customers, the difference will be repaid to the taxable person (s 19(5) of the GST Act). Tax credits may be refunded...
Singapore-Armenia DTA
by admin | Jan 4, 2022 | Income Tax, Tech News
On or about 23 Dec 2021, the Agreement between the Singapore and Armenia for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance (“DTA”), signed on 8 July 2019, entered into force on 23 December 2021. The...
Singapore-Jordan DTA
by admin | Jan 4, 2022 | Income Tax, Tech News
On or about 3 Jan 2022, the Agreement between Singapore and Jordan for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance (“DTA”) was signed on 14 Jul 2021, entered into force on 30 December 2021. The DTA...