Adopting Financial Reporting Standard (FRS) 39 and 109 and its Tax Implications, content updated
On or about 13 November 2019, the Inland Revenue Authority of Singapore (IRAS) has updated the content on adopting financial reporting standard (FRS) 39 and 109 and its tax implications. Effective 1 January 2005, companies are required to comply with FRS 39 -...
The Advance Ruling System for GST
On or about 13 November 2019, the IRAS has provided a new version of the GST F19: Application of GST Advance Ruling form which is available at the IRAS website. Businesses may apply for an advance ruling to find out from IRAS how the GST Act applies to particular...
e-Tax Guide GST: Advance Ruling System revised
On or about 13 November 2019, the Inland Revenue Authority of Singapore (IRAS) has published the fifth edition of GST e-Tax Guide: Advance Ruling System. It replaces the fifth edition which was published on 11 June 2019. This e-Tax Guide explains the GST advance...
e-Tax Guide GST: Web-Hosting Services and Server Co-location Services revised
On or about 11 November 2019, the Inland Revenue Authority of Singapore (IRAS) has published the second edition of e-Tax Guide GST: Web-Hosting Services and Server Co-location Services. It replaces the first edition published on 30 September 2013. This e-Tax Guide...
To announce in Budget 2020: Support package to ‘cushion impact’ of impending GST hike
On or about 10 November 2019, the Deputy Prime Minister Heng Swee Keat during a speech at a People’s Action Party (PAP) convention stated that he would announced at the Budget 2020 on support package to cushion the impact of the impending Goods and Services Tax (GST)...
Advisory on Scam & Fraudulent Activities (Nov)
On or about 7 November 2019, the Inland Revenue Authority of Singapore (IRAS) has updated its content on advisory scams as the Corporate Tax filing due date is nearing. Taxpayers who received email with subject heading 'Tax Invoice from Inland Revenue Authority of...
Approved Refiner and Consolidator Scheme (ARCS)
On or about 8 November 2019, the Inland Revenue Authority of Singapore (IRAS) has released the following forms: GST F27A: Application for Approved Refiner and Consolidator Scheme (ARCS) as an Approved Consolidator; orGST F27B: Application for Approved Refiner and...
e-Tax Guide GST: Guide on Exemption of Investment Precious Metals (IPM) revised
On or about 8 November 2019, the Inland Revenue Authority of Singapore (IRAS) has published the twelfth edition of e-Tax Guide GST: Guide on Exemption of Investment Precious Metals (IPM). It replaces the eleventh edition which was published on 24 September 2019. This...
e-Tax Guide Income Tax: Income Tax Treatment Arising from Adoption of FRS 109 – Financial Instruments revised
On or about 6 November 2019, the Inland Revenue Board of Singapore (IRAS) has released the second edition of the e-Tax Guide Income Tax: Income Tax Treatment Arising from Adoption of FRS 109 – Financial Instruments. It replaces the first edition published on 22...
e-Tax Guide GST: Customer Accounting for Prescribed Goods revised
On or about 1 November 2019, the Inland Revenue Authority of Singapore (IRAS) has published the fourth edition of the e-Tax Guide on GST: Customer Accounting for Prescribed Goods. It replaces the third edition published on 16 August 2019. The fourth edition of the...