e-Tax Guide GST: Guide for Property Developer revised
On or about 18 September 2019, the Inland Revenue Authority of Singapore (IRAS) has released the fourth edition of the e-Tax Guide GST: Guide for Property Developer. The revised guide incorporates the following amendments: editorial amendments to paragraphsamendments...
ASC submits comments to IASB on proposed amendments to IFRS 3
On or about 18 September 2019, the Singapore Accounting Standards Council (ASC) has submitted its comment to the International Accounting standard Board (IASB) on ED/2019/3 Reference to the Conceptual Framework (Proposed Amendments to IFRS 3). According to the comment...
e-Tax Guide GST The Electronic Tourist Refund Scheme (Refund claims made on or after 4 Apr 2019) revised
On or about 13 September 2019, the Inland Revenue Board of Singapore (IRAS) has released the second edition of the e-Tax Guide GST The Electronic Tourist Refund Scheme (Refund claims made on or after 4 Apr 2019). This e-Tax Guide seeks to clarify the GST refund claim...
e-Tax Guide on GST: For Retailers participating in Tourist Refund Scheme (Refund claims made on or after 4 April 2019) revised
On or about 13 September 2019, the Inland Revenue Authority of Singapore (IRAS) has released the second edition of the e-Tax Guide on GST: For Retailers participating in Tourist Refund Scheme (Refund claims made on or after 4 April 2019). This e-Tax Guide seeks to...
e-Tax Guide GST: Guide on Non-Business Receipts – Business Tests and the Effect of Non-Business Receipts on Input Tax Claims revised
On or about 12 September 2019, the Inland Revenue Board of Singapore (IRAS) has released the second edition of the e-Tax Guide GST: Guide on Non-Business Receipts – Business Tests and the Effect of Non-Business Receipts on Input Tax Claims. The revised e-Tax Guide...
e-Tax Guide on Time of Supply rules revised
On or about 11 September 2019, the Inland Revenue Board of Singapore (IRAS) has released the second edition of the e-Tax Guide GST: Time of Supply rules. The revised e-Tax Guide incorporates the following updates: removed content on supply rules and amended paragraph...
Second reading of Variable Capital Companies (Miscellaneous Amendments) Bill
On or about 3 September 2019, the Variable Capital Companies (Miscellaneous Amendments) Bill was read for the second time in Parliament on 3 September 2019 by Ms Indranee Rajah, Second Minister for Finance. The Bill comprises two broad categories of proposed...
e-Tax Guide GST: Transfer of Business as a Going Concern and other Excluded Transactions revised
On or about 2 September 2019, the Inland Revenue Board of Singapore (IRAS) has released the fourth edition of the e-Tax Guide GST: Transfer of Business as a Going Concern and other Excluded Transactions. It replaces the third edition published on 22 April 2019. The...
Income Tax (Amendment) Bill first introduced
On or about 2 September 2019, the Income Tax (Amendment) Bill was read for the first time in Parliament on 2 September 2019. The main proposed amendments are: The granting of a personal income tax rebate of 50% of tax payable capped at $200 for all tax resident...
Amendments to United Arab Emirates DTA
Singapore has participated in the negotiation of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting ("Multilateral Instrument" or "MLI"). The MLI is intended to allow jurisdictions to swiftly amend their...