Legislative changes to AGMs and ARs timelines
On 17 July 2018, the Accounting and Corporate Regulatory Authority (ACRA) of Singapore has announced the date of the legislative changes to the Companies (Amendment) Act 2017 relating to Annual General Meeting (AGMs) and Annual Returns (ARs) timelines that will tale...
New Guide to ACMT Scheme
On 16 July 2018, the Inland Revenue Authority of Singapore (IRAS) has published a revised e-Tax Guide, GST: Approved Contract Manufacturer and Trader (ACMT) Scheme that replaces the previous one. This e-Tax Guide explains the benefits, qualifying criteria and...
Partial Exempt Input Tax Recovery Calculator
Input tax incurred in the making of exempt supplies is not claimable generally except if the De Minimis Rule is satisfied. The De Minimis Rule allows GST-registered businesses to claim input tax on exempt supplies. On 10 July 2018, the Inland Revenue Authority of...
Revised Guidance on income tax treatment of S-REIT ETFs
On 9 July 2018, the Inland Revenue Authority of Singapore (IRAS) has updated the Second Edition of the e-Tax Guide, Income Tax Treatment of Real Estate Investment Trust Exchange-Traded Funds. The amendment include to amend paragraph 5.2 of the main guide and paragraph...
Re-write of e-Tax Guide on Approved Contract Manufacturer and Trader (ACMT) Scheme
Contract manufacturers and traders under the ACMT scheme are relieved of the need to account for GST on value added activities supplied to non-GST registered overseas customers. On 16 July 2018, the Inland Revenue Authority of Singapore (IRAS) has re-write it e-Tax...
e-Tax Guide for tax framework for Corporate Amalgamations
On 4 July 2018, the Inland Revenue Authority of Singapore (IRAS) has updated the Second Edition of IRAS e-Tax Guide: Tax Framework for Corporate Amalgamations. This e-Tax Guide was first published on 20 January 2010 to facilitate mergers and consolidations of...
CorpPass required for IRAS digital services from 1 September 2018
On 6 July 2018, the Inland Revenue Authority of Singapore (IRAS) has announced that from 1 September 2018, CorpPass will be the only login method for online corporate transactions with the Government. This replaces the previous EASY authorisation system. CorpPass is a...
Updates to Singapore Revenue Legislation
The following notification/ rules were published in the Government Gazette, electronic edition, on 5 July 2018 and came into operation on 6 July 2018: Stamp Duties Act (Amendment of First Schedule) (No. 2) Notification 2018 (S 452/2018) It amends the First Schedule to...
A Study of Financial Instruments – Part 1: Basic Measurement Rules
The Challenge When a company put its surplus cash reserves for investment in shares and bonds for returns, what will be the impact to the company’s financial performance when the market fell sharply soon after its investment? Can the company hold on its position not...
Stamp Duty: Additional Conveyance Duties on Property-Holding Entities
On 5 July 2018, the Inland Revenue Authority of Singapore (IRAS) has updated the third edition of e-Tax Guide on Additional Conveyance Duties on Property-Holding Entities. This e-Tax Guide replaces the second edition which was published on 19 February 2018 to reflect...