Enhanced Statement of Auditing Practice (SAP) 2, Auditors and Public Offering Documents
On or about 28 June 2019, the Institute of Singapore Chartered Accountants (ISCA) has published the enhanced Revised Statement of Auditing Practice (SAP) 2 to help reduce the divergence in practice among reporting auditors when issuing private reports on profit...
ASC invites comment of Exposure Draft ED/2019/4 Amendments to IFRS 17
On or about 27 June 2019, the Accounting Standards Council (ASC) invites comments on Exposure Draft ED/2019/4 Amendments to IFRS 17 by 16 August 2019. Comments are to be submitted by 16 August 2019. The compiled comments would then be summarised and forwarded to the...
IASB consults on amendments to aid implementation of IFRS 17
On or about 26 June 2019, the International Accounting Standards Board (IASB) seeks public consultation on proposed amendments to the insurance contracts Standard, IFRS 17. The aim of these amendments is to continue supporting implementation by reducing the costs of...
Discussion Paper, Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges in Applying the ISAs
On or about 29 April 2019, the International Auditing and Assurance Standards Board (IAASB) has released a discussion paper, Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges in Applying the ISAs. This discussion paper recognizes...
IASB Webcast: Borrowing costs and revenue recognition
On or about 24 June 2019. the IFRS Interpretations Committee (Committee) has published a webcast discussing a March 2019 agenda decision on “over time transfer of a constructed good”. The agenda decision responds to a question received about the application of IAS 23...
IRAS updates e-Tax Guide Income Tax: Income Tax Treatment of Real Estate Investment Trust Exchange-Traded Funds
On or about 19 June 2019, the Inland Revenue Authority of Singapore (IRAS) has updated the e-Tax Guide on Income Tax: Income Tax Treatment of Real Estate Investment Trust Exchange-Traded Funds (Third Edition). It replaces the second edition published on 9 July 2018....
IRAS updates e-Tax Guide Income Tax: Income Tax Treatment of Real Estate Investment Trusts and Approved Sub-Trusts
On or about 19 June 2019, the Inland Revenue Authority of Singapore (IRAS) has updated the e-Tax Guide on Income Tax: Income Tax Treatment of Real Estate Investment Trusts and Approved Sub-Trusts (Third Edition). It replaces the second edition published on 12 April...
IRAS updates e-Tax Guide Income Tax: Tax Exemption under Section 13(12) for Specified Scenarios, Real Estate Investment Trusts and Qualifying Offshore Infrastructure Project/Asset
On or about 19 June 2019, the Inland Revenue Authority of Singapore (IRAS) has updated the e-Tax Guide on Income Tax: Tax Exemption under Section 13(12) for Specified Scenarios, Real Estate Investment Trusts and Qualifying Offshore Infrastructure Project/Asset (Sixth...
IRAS updates REIT Applications
On or about 19 June 2019, the Inland Revenue Authority of Singapore (IRAS) has provided updated versions of the following Real Estate Investment Trust (REIT) applications for the purpose of applying for Tax Transparency Treatment: REIT — Application for Tax...
IRAS updates GST F19: Application for GST Advance Ruling
On or about 11 June 2019, the Inland Revenue Authority of Singapore (IRAS) has provided a new version of the GST F19 form. The Comptroller of GST (CGST) operates an advance ruling system to provide greater clarity and certainty to taxpayers. The system provides...