Fee payable to Comptroller of Income Tax for the search of any document not microfilmed revised
On or about 15 August 2019, the Fees (Income Tax) (Amendment) Order 2019 was published in the Government Gazette (electronic edition). The changes came into operation on 15 August 2019. The fee payable to Comptroller of Income Tax for the search of any document not...
Fee payable to Comptroller of Goods and Services Tax for the search of any document revised
On or about 15 August 2019, the Fees (Goods and Services Tax) (Amendment) Order 2019 was published in the Government Gazette (electronic edition). The changes came into operation on 15 August 2019. The fee payable to Comptroller of Goods and Services Tax for the...
Revision of Adjudication and Valuation Fees for Instruments prescribed in the Stamp Duties Act
On or about 15 August 2019, the Stamp Duties Act (Amendment of Fourth and Fifth Schedules) Notification 2019 was published in the Government Gazette (electronic edition). The changes came into operation on 15 August 2019. The adjudication fees for instruments...
Summary of Responses to Public Consultation on the Draft Income Tax (Amendment) Bill 2019
On or about 15 August 2019, the Ministry of Finance (MOF) has released the summary of responses to the public consultation on the draft Income Tax (Amendment) Bill 2019. The key feedback received pertained to the following tax changes: to increase the prescribed...
Advisory on Scam & Fraudulent Activities (Aug)
On or about 8 August 2019, the Inland Revenue Authority of Singapore (IRAS) has updated its content on advisory scams. Scam Email - 'Inland Revenue Authority of Singapore-Refund-Online-Confirmation' Members of the public are advised to ignore an image of a scam email...
Taxation of Income from Overseas Employment
On or about 6 August 2019, the Inland Revenue Authority of Singapore (IRAS) has assessed that the administrative concession which allows Singaporeans to opt to be assessed as non-residents for tax purposes is no longer relevant in furthering its objective of removing...
Determining Tax Residency of a Company
On or about 5 August 2019, the Inland Revenue Authority of Singapore (IRAS) has updated the content in its website on determining the tax residence of foreign-owned investment holding companies. A company is either a tax resident or a non-resident of Singapore. In...
ASC invites comments on Exposure Draft ED/2019/6 Amendments to IAS 1 and IFRS Practice Statement 2
On or about 2 August 2019, the Accounting Standards Council (ASC) invites comments on Exposure Draft ED/2019/6 Disclosure of Accounting Policies (Proposed amendments to IAS 1 and IFRS Practice Statement 2) by 18 October 2019. The compiled comments would then be...
Income Tax (Exemption of Workfare Bicentennial Bonus) Notification 2019
On or about 1 August 2019. the Government Gazette has published the Income Tax (Exemption of Workfare Bicentennial Bonus) Notification 2019. The Minister of Finance has made the following notification: Cash payment made by the Government to an individual under the...
ASC submits comments to IFRS on Due Process Handbook
On or about 1 August 2019, the Singapore Accounting Standards Council (ASC) has submitted its comment to the International Financial Reporting Standards (IFRS) Due Process Oversight Committee on Exposure Draft on Proposed amendments to the IFRS Foundation Due Process...