Amendment Orders on GST import relief released
by admin | Jan 4, 2022 | Goods and Services Tax, Tech News
On or about 3 Jan 2022, the amendment orders that update the list of goods granted relief from import GST have been released. Subject to conditions, the following imports are granted relief from the payment of GST: from 16 December 2021, the import of a “Class 2 CTGT...
GST e-Tax Guide: Taxing imported services by way of an overseas vendor registration regime
by admin | Dec 18, 2021 | Income Tax, Tech News
On or about 16 Dec 2021, the Inland Revenue Authority of Singapore (IRAS) has published the third edition of the GST e-Tax Guide on Taxing imported services by way of an overseas vendor registration regime. It replaces the second edition that was issued on 26 Aug...
IASB provides narrow-scope amendment to insurers applying IFRS 17
by admin | Dec 13, 2021 | Accounting, Tech News
On or about 9 Dec 2021, the International Accounting Standards Board (IASB) has issued a narrow-scope amendment to the transition requirements in IFRS 17 Insurance Contracts, providing insurers with an option aimed at improving the usefulness of information to...
CRS Registration and Deregistration – IRAS website updated
by admin | Dec 8, 2021 | Income Tax, Tech News
On or about 6 Dec 2021, the Inland Revenue Authority of Singapore (IRAS) has updates its website contents to information on common reporting standard (CRS) registration and deregistration. An entity that becomes a Reporting Singaporean Financial Institution (SGFI)...
IASB proposes disclosure requirements to enhance the transparency of supplier finance arrangements
by admin | Nov 29, 2021 | Accounting, Tech News
On or about 26 Nov 2021, the International Accounting Standards Board (IASB) has published for comments on the proposed changes in disclosure requirements to enhance the transparency of supplier finance arrangements and their effects on a company’s liabilities and...
IASB proposes narrow-scope amendments to classification of long-term debt with covenants
by admin | Nov 22, 2021 | Accounting, Tech News
On or about 19 Nov 2021, the International Accounting Standards Board (IASB) has released for comments proposed amendments to IAS 1 Presentation of Financial Statements to improve the disclosure of information about a company’s long-term debts with covenants. IAS 1...
Release of Amendment Order on GST Import Relief
by admin | Aug 14, 2021 | Goods and Services Tax, Tech News
On or about 12 Aug 2021, the Inland Revenue Authority of Singapore (IRAS) has released the GST (Imports Relief) (Amendment) Order 2021 that updates the list of goods granted relief from import GST, which will comes into operation on 13 August 2021. From 13 August...
2021 Rental Support Scheme
by admin | Aug 12, 2021 | Accounting, Income Tax, Tech News
On or about 10 Aug 2021, the Ministry of Finance (MOF) has released the Inland Revenue Authority of Singapore (Assignment of Functions) (No. 2) Notification 2021 that comes into operation on 6 August 2021. From 6 August 2021, the Inland Revenue Authority of Singapore...
Revised e-Tax Guide – Transfer Pricing Guidelines
by admin | Aug 11, 2021 | Goods and Services Tax, Tech News
On or about 10 Aug 2021, the Inland Revenue Authority of Singapore (IRAS) has published the sixth edition of the e-Tax guide, GST: Transfer Pricing Guidelines. It replaces the fifth edition published on 23 Feb 2018. This e-Tax guide aims to helps in: applying the...
Amendment order on Exempt Imports
by admin | Aug 10, 2021 | Goods and Services Tax, Tech News
On or about 10 Aug 2021, the Inland Revenue Authority of Singapore (IRAS) has released the GST (Amendment of Fourth Schedule) Order 2021 that updates the list of exempt imports of investment in precious metals, which will comes into operation on 6 August 2021. From 6...