ISCA seeks for comments on New Appendix 1J in AGS 1 Sample Auditor’s Report
On 24 August 2018, the Institute of Singapore Chartered Accountants (ISCA) has issued a proposed audit guidance statement, new Appendix 1J in ED AGS 1, a sample independent auditor’s report (based on group audit) to guide the auditors in issuance of auditor's reports...
GST e-Tax Guide on Partial Exemption and Input Tax Recovery
On 23 August 2018, the Inland Revenue Authority of Singapore (IRAS) has revised the Fourth Edition of the GST: Partial Exemption and Input Tax Recovery. It replaces the third edition that was published on 8 August 2016. The e-Tax Guide explains the partial exemption...
GST e-Tax Guide on Attribution of Input Tax
On 23 August 2018, the Inland Revenue Authority of Singapore (IRAS) has revised the Fourth Edition of the GST Guide on Attribution of Input Tax. It replaces the third edition that was published on 30 October 2015. The e-Tax Guide explains how a partially exempt...
CorpPass – Singapore Corporate Access
On 20 August 2018, the Inland Revenue Authority of Singapore (IRAS) has reminded Singapore businesses that from 1 September 2018, CorpPass, a corporate digital identity for Singapore businesses, will be the only login method for any online corporate transactions with...
EP 100 Amendments – Expected to be Effective 15 December 2018
On 14 August 2018, the Institute of Singapore Chartered Accountants (ISCA) has made amendments to Ethics Pronouncement (EP 100) August 2018, Code of Professional Conduct and Ethics, provisions on long association of senior personnel with an audit or assurance client...
New e-Tax Guide on GST Scheme for ACMT
On 11 August 2018, the Inland Revenue Authority of Singapore (IRAS) has published a new e-Tax Guide that was re-wrote on 16 July 2018, on GST: Approved Contract Manufacturer and Trader (ACMT) Scheme. It replaces the e-Tax Guide on GST Approved Contract Manufacturer...
Revision to e-Tax Guide on Country-by-Country (CbC) Reporting
On 7 August 2018, the Inland Revenue Authority of Singapore (IRAS) has revised the Third Edition of the e-Tax Guide on Country-by-Country (CbC) Reporting. It replaces the first edition that was published on 10 October 2016. IRAS has amended question 11 of the FAQs...
MOF tabled the Stamp Duties (Amendment) Bill 2018
On 6 August 2018, the Ministry of Finance (MOF) has tabled the Stamp Duties (Amendment) Bill 2018 with key amendments providing for stamp duty to be levied on electronic records that enable a transfer of interest in properties and shares. Currently, stamp duty is...
Tax Agreements with Latvia and Nigeria to Enter into Force
On 3 August 2018, the second Protocol amending the Agreement for the Avoidance of Double Taxation (the Protocol) between Singapore and the Republic of Latvia, entered into force on 3 August 2018. The Protocol was previously signed on 20 April 2017. The Protocol...
IFRS Webcast: Classification of compound instruments and redemption obligation arrangements – FICE Discussion Paper
On 31 July 2018, the International Financial Reporting Standards (IFRS) has released both webcast and slides on FICE Discussion Paper to: Classification of compound instruments and redemption obligation arrangements; and Classification of derivatives on own equity A...