The Inland Revenue Authority of Singapore (IRAS) has published a summary of the income tax treatment of COVID-19 payouts to businesses and individuals, outlining what is taxable and not, as follows: The following payouts arenot taxableeither because they are not income in nature or a specific...
This paper takes the view that tax reforms in the form of a reshuffling of marginal tax rates are more appropriate policy recommendations than a whole-sale restructuring of a country's tax system. We adopted a simple model that yields simple and intuitive recommendations on the directions of ...
Singapore has a territorial, and to a limited extent, remittance basis of taxation. Under the Income Tax Act of 1947 (ITA), income that is sourced in Singapore or received in Singapore from outside Singapore is subject to income tax in Singapore, unless specifically exempted by the ITA. Sing...
Public Consultation on Proposed Multinational Enterprise (Minimum Tax) Bill 2024– July 2024 Pharmaceutical Manufacturing Industry—Tax Treatment of Research & Development and Intellectual Property-Related Expenditure (fourth edition)– June 2024 Update on E-Invoicing in Singapore- June 2024 GHZ v The Com...
Imported services, such as Business-to-Business (B2B) supplies provided to GST-registered businesses in Singapore, and Business-to-Consumer (B2C) supplies provided to non-GST registered individuals and businesses. In addition, from January 1, 2023, GST will be levied on im...
Updates on Indonesia – Singapore Tax Treaty January 2020: Tax Alert (English) Ratification of Multilateral Instrument in Indonesia December 2019: Tax Alert (English) Updates on Tax Allowance Facility September 2019: Tax Alert (English) Updates in the Energy and Resources Sector ...
Singapore, SGP Wai Fook Chai EY Asean Government & Public Sector Tax Leader; Partner, Tax Services, Ernst & Young Solutions LLP Vast corporate tax compliance, planning and accounting experience in private and public sectors. Singapore, SGP
Detailed definitions of intangible assets in Singapore are explained in the Statutory Board Financial Reporting Standard (SB-FRS 38) effective as of January 1, 2013[1]. Amortization period is explain in SB-FRS 38, paragraph 97 onwards.
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This guide gives an overview of the filing deadlines for Singapore private limited companies to stay compliant with IRAS. Read and learn more!