GST e-Tax Guide: Record Keeping Guide for GST-Registered Businesses
On or about 3 January 2019, the Inland Revenue Authority of Singapore (IRAS) has published the fifth edition of GST e-Tax Guide: Record Keeping Guide for GST-Registered Businesses. It replaces the previous edition which was published on 24 July 2017. This e-Tax Guide...
Multilateral Instrument (MLI) Implementing the Treaty Related BEPS Provisions
On or about 21 December 2018, Singapore deposited the Instrument of Ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“the Multilateral Instrument” or “MLI”). The MLI was signed on 7 June...
IRAS e-Tax Guide: Change in Basis for Computing Taxable Car Benefit
On or about 14 December 2018, the Inland Revenue Authority of Singapore (IRAS) has published the e-Tax Guide: Change in Basis for Computing Taxable Car Benefit on its website. This e-Tax guide replaces the previous two guides "Change in Basis for Computing Taxable Car...
GST e-Tax Guide: Customer Accounting for Prescribed Goods
On or about 13 December 2018, the Inland Revenue Authority of Singapore (IRAS) has published the e-Tax Guide on GST: Customer Accounting for Prescribed Goods (Second Edition) which replaces the first edition published on 15 September 2017. The amendments clarify the...
IRAS revises e-Tax Guide: Tax Treatment Arising from Adoption of FRS 115 or SFRS(I) 15
On 16 November 2018, the Inland Revenue Authority of Singapore (IRAS) has updated the Second Edition of the e-Tax guide on Tax Treatment Arising from Adoption of FRS 115 or SFRS(I) 15 - Revenue from Contracts with Customers that replaces the First edition published on...
Agreement for Exchange of Information signed between Singapore and USA
On 13 November 2018, Singapore has signed a Tax Information Exchange Agreement (TIEA) and a reciprocal Foreign Account Tax Compliance Act Model 1 Intergovernmental Agreement (reciprocal FATCA IGA) with the United States of America (USA). The TIEA will permit Singapore...
Income Tax (Amendment) Act 2018
On 12 November 2018, the Income Tax (Amendment) Act 2018 was gazetted and published in the electronic gazette. These legislative amendments is to effect changes announced in Budget 2018: changes arising from the periodic review of the income tax system and changes to...
Strategy Workshop 2018
To achieve alignment around a strategic vision for Singapore Accountancy Alliance (SAA), we conducted our Strategy Workshop for a second year, gathering partners from member firms and working together on a Saturday morning at Tanah Merah Country Club -...
No more certification on Indonesia’s Tax Reclaim Form (Form DGT 1/ DGT 2)
Applying for Certificate of Residence (COR)/ Tax Reclaim Form For the purpose of claiming tax benefits under the Avoidance of Double Taxation Agreements (DTAs), a Singapore tax resident company is required to obtain a Certificate of Residence (COR) in order to apply...
GST e-Tax Guide(s) on information involving Hand-Carried Exports Scheme (HCES)
On 1 November 2018, the Inland Revenue Authority of Singapore (IRAS) has updated the following IRAS e-Tax Guide(s) on GST on information involving hand-carried goods under relating to the Hand-Carried Exports Scheme (HCES). The following summarises these updates and...