Recording of the fourth and final webinar on ED: General Presentation and Disclosures
On or about 11 September 2020, the International Financial Reporting Standards Board (IASB) has posted the recordings of the live webinars held on the Exposure Draft (ED) General Presentation and Disclosures in English, Japanese and Korean. The IASB is seeking...
Fourth and final webinar on ED General Presentation and Disclosures
On or about 11 September 2020, the IFRS Foundation has released the recordings of the fourth and final webinar held on the Exposure Draft (ED) General Presentation and Disclosures in English, Japanese and Korean. The International Accounting Standards Board (IASB) is...
October 2020 Accounting Standards Advisory Forum meeting papers available
On or about 2 September 2020, the International Financial Reporting Standards (IFRS) released the agenda papers and the agenda for the Accounting Standards Advisory Forum meeting to be held on 2 October 2020. The topics for discussion are as follows: Goodwill and...
Advance Ruling Summary on Income tax issues relating to a foreign Limited Partnership
On or about 1 Sep 2020, the Inland Revenue Authority of Singapore (IRAS) has published an Income Tax Advance Ruling Summary No. 10/2020 with regards to "Income tax issues relating to a foreign Limited Partnership". The Subject was whether B Limited Partnership (“B...
Public Consultation on Proposed Companies Act Amendments
On or about 20 July 2020, the Companies Act Working Group (CAWG) was set up by the Accounting and Corporate Regulatory Authority (ACRA) in January 2018 to review areas of the Companies Act (CA). The ACRA now invites the public to provide feedback on proposed...
Advance Ruling Summary on tax treatment of exchange fee paid pursuant to exchange of Notes
On or about 30 Jun 2020, the Inland Revenue Authority of Singapore (IRAS) has published an Income Tax Advance Ruling Summary No. 4/2020 with regards to "Exchange fee paid pursuant to exchange of Notes". The Subject was whether the Exchange Fee can be regarded as: a...
Advance Ruling Summary on tax treatment of expenditure incurred to acquire a new business
On or about 30 Jun 2020, the Inland Revenue Authority of Singapore (IRAS) has published an Income Tax Advance Ruling Summary No. 3/2020 with regards to "Expenditure incurred to acquire a new business". The Subject was whether: Whether company may claim a deduction of...
Implementation of Revised XBRL filing requirements
The revisions aim are part of the ACRA’s continual efforts to streamline filing requirements. For most companies, the number of data elements required to be filed with ACRA will be reduced for most of the companies. Timeline for implementation of revised XBRL filing...
e-Tax Guide on Property Tax Rebate for Qualifying Commercial Properties – Budget 2020
On or about 18 February 2020, the Inland Revenue Authority of Singapore (IRAS) has published the e-Tax Guide on Property Tax Rebate for Qualifying Commercial Properties — Budget 2020. This e-Tax Guide provides details on the property tax rebate for qualifying...
Common Reporting Standard information reporting updates
On or about 11 February 2020, the Inland Revenue Authority of Singapore (IRAS) updates information on List of Reportable Jurisdictions for 2020 Common Reporting Standard (CRS) information reporting. The CRS is an internationally agreed standard for the automatic...