INT FRS 123 Uncertainty over Income Tax Treatments
On or about 18 September 2017, the Accounting Standards Council (ASC) Singapore has issued INT FRS 123 Uncertainty over Income Tax Treatments came into effect on 1 January 2019, which clarifies the accounting recognition and measurement requirements for uncertainties...
IRAS e-Tax Guide: Tax Exemption for Foreign-Sourced Income
On or about 23 January 2019, the Inland Revenue Authority of Singapore (IRAS) has published the third edition of e-Tax Guide: Tax Exemption for Foreign-Sourced Income. It replaces the second edition which was published on 31 May 2013. This e-Tax Guide aimed to provide...
Additional Registers and Removal of Common Seals
The Companies (Amendment) Act 2017 was passed on 10 March 2017 and will be implemented in phases. The first phase which was effected on 31 March 2017, introduces amendments such as the requirement to maintain varies registers at the prescribed places and the remove...
IRAS e-Tax Guide: Tax Deduction for Borrowing Costs Other Than Interest Expenses
On or about 15 January 2019, the Inland Revenue Authority of Singapore (IRAS) has published the third edition of e-Tax Guide: Tax Deduction for Borrowing Costs Other Than Interest Expenses. It replaces the second edition which was published on 18 August 2014. This...
ASC issued a revised Conceptual Framework
On or about 14 January 2019, the Accounting Standards Council (ASC) issued a revised Conceptual Framework for Financial Reporting and new/revised/amendments to SFRS(I)s up to 31 December 2019 which are effective for annual reporting periods beginning after 1 January...
ASC’s comment letter on DP/2018/1, ‘Financial Instruments with Characteristics of Equity’
On or about 9 January 2019, the Accounting Standards Council (ASC) has submitted its comment letter to the International Accounting Standards Board (IASB) commended the IASB for its efforts in attempting to address the existing conceptual and application challenges...
IRAS e-Tax Guide: Tax Treatment of a Trust registered under the Business Trusts Act
On or about 8 January 2019, the Inland Revenue Authority of Singapore (IRAS) has published the second edition of e-Tax Guide: Tax Treatment of a Trust registered under the Business Trusts Act. It replaces the first edition which was published on 19 October 2014. This...
GST e-Tax Guide: General Guide for Businesses
On or about 3 January 2019, the Inland Revenue Authority of Singapore (IRAS) has published the ninth edition of GST e-Tax Guide: General Guide for Businesses. It replaces the seventh edition which was published on 13 February 2018. This guide provides an overview of...
GST e-Tax Guide: Major Exporter Scheme
On or about 3 January 2019, the Inland Revenue Authority of Singapore (IRAS) has published the ninth edition of GST e-Tax Guide: Major Exporter Scheme. It replaces the eighth edition which was published on 13 March 2018. This e-Tax Guide explains the mechanism and...
GST e-Tax Guide: Assisted Self-Help Kit (ASK) Annual Review Guide
On or about 3 January 2019, the Inland Revenue Authority of Singapore (IRAS) has published the seventh edition of GST e-Tax Guide: Assisted Self-Help Kit (ASK) Annual Review Guide. It replaces the previous edition which was published on 3 December 2018. The GST...