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...
e-Tax Guide GST: Guide on Exemption of Investment Precious Metals revised
On or about 30 August 2019, the Inland Revenue Board of Singapore (IRAS) has released the tenth edition of the e-Tax Guide GST: Guide on Exemption of Investment Precious Metals. The revised e-Tax Guide incorporates the following updates: inserted qualifying IPM...
e-Tax Guide GST: Guide on Exemption of Investment Precious Metals (IPM) revised
On or about 30 August 2019, the Inland Revenue Authority of Singapore (IRAS) has published the tenth edition of e-Tax Guide GST: Guide on Exemption of Investment Precious Metals (IPM). It replaces the ninth edition which was published on 27 March 2019. This e-Tax...
Singapore and Turkmenistan Sign Agreement for Avoidance of Double Taxation (DTA)
On or about 28 August 2019, Singapore and Turkmenistan have signed a comprehensive Agreement for the Avoidance of Double Taxation (DTA). The DTA seeks to improve cross-border trade and investment, lower withholding tax rates and clarifies jurisdictional rights between...
e-Tax Guide GST: Taxing imported services by way of an overseas vendor registration regime revised
On or about 26 August 2019, the Inland Revenue Board of Singapore (IRAS) has released the second edition of the e-Tax guide, GST: Taxing imported services by way of an overseas vendor registration regime. It replaces the first edition published on 4 February 2019. The...