Common Reporting Standard
On or about 29 July 2019, the Inland Revenue Authority of Singapore (IRAS) has published a new Common Reporting Standard (CRS) compliance section on their website stating that Financial Institutions (FIs) must comply with the CRS Regulations in Singapore. Reporting...
Filing Estimated Chargeable Income and Paying Estimated Taxes
As announced in Budget 2016, companies are required to e-File their Corporate Income Tax returns (including Estimated Chargeable Income (ECI), Form C and Form C-S) in a phased approach from Year of Assessments (YAs) 2018 to 2020. From YA 2020 onward, all companies are...
IRAS issues e-Tax Guide on How do I prepare my GST return?
On or about 26 July 2019, the Inland Revenue Authority of Singapore (IRAS) has published the fifth edition of the e-Tax guide, “How do I prepare my GST return”. It replaces the fourth edition published on 14 December 2018. This e-Tax Guide explains how to prepare the...
IRAS issues e-Tax Guide on Common Reporting Standard
On or about 23 July 2019, the Inland Revenue Authority of Singapore (IRAS) has published the e-Tax Guide on the Common Reporting Standard (CRS). The CRS is an internationally agreed standard for the automatic exchange of financial account information between...
ASC invites comments on Exposure Draft ED/2019/5 Amendments to IAS 12
On or about 22 July 2019, the Accounting Standards Council (ASC) invites comments on Exposure Draft ED/2019/5 Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Proposed amendments to IAS 12) by 11 October 2019. The compiled comments...
IASB proposes amendments to accounting for deferred tax
On or about 17 July 2019, the International Accounting Standards Board (IASB) has published the proposed changes to the IFRS Standard for income tax, IAS 12 for public comment. The amendments clarify how companies account for deferred tax on leases and decommissioning...
IRAS releases Slides on Overseas Vendor Registration
On or about 15 July 2019, the Inland Revenue Board of Singapore (IRAS) has updated the content on Overseas Vendor Registration slides. The slides explain the Overseas Vendor Registration (OVR) regime to tax digital services imported by non-GST registered persons...
IRAS update e-Tax Guide on GST: Guide for Property Owners and Property Holding Companies
On or about 12 July 2019, the Inland Revenue Board of Singapore (IRAS) has published the fourth edition of the e-Tax Guide on GST: Guide for Property Owners and Property Holding Companies. It replaces the third edition published on 1 January 2018. In this fourth...
IRAS updates e-Tax Guide on Income Tax Treatment of Real Estate Investment Trust Exchange-Traded Funds
On or about 11 July 2019, the Inland Revenue Board of Singapore (IRAS) has published the fourth edition of the e-Tax Guide on Income Tax Treatment of Real Estate Investment Trust Exchange-Traded Funds. It replaces the third edition published on 19 June 2019. The...
IRAS updates e-Tax Guide on Income Tax Treatment of Real Estate Investment Trusts and Approved Sub-Trusts
On or about 11 July 2019, the Inland Revenue Board of Singapore (IRAS) has published the fourth edition of the e-Tax Guide on Income Tax Treatment of Real Estate Investment Trusts and Approved Sub-Trusts. It replaces the third edition published on 19 June 2019. The...