Singapore has recently issued the 2014 budget, containing provisions related to introduction of the Productivity and Innovation Credit (PIC) Scheme for Small and Medium Enterprises (SMEs), PIC benefits on training employees, the extension of the writing down Allowance (WDA) Scheme, and measures to increase Parent/ Handicapped Parent Reliefs.
Related Posts
The Inland Revenue Authority of Singapore has released Advance Ruling Summary No. 7/2024, addressing the classification of hybrid instruments and related matters on 1 November 2024. Subject: Whether: The fixed rate subordinated
Read More
Singapore has published Order No. S 813 in the Official Gazette on 24 October 2024 which officially recognises the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports as an international tax
Read More The Inland Revenue Authority of Singapore has updated its guidelines regarding the Tax Treatment for Shipping Income which now includes new provisions related to the alternative net tonnage basis of taxation, which will take effect from the year of
Read More
Singapore's parliament passed two bills on 15 October 2024 – Multinational Enterprise (Minimum Tax) (Bill No.33/2024) and Income Tax (Amendment) Bill (Bill No. 32/2024.) – which introduces a top-up tax (MTT) and a domestic top-up tax (DTT) for
Read More Singapore's Second Minister for Finance, Indranee Rajah, presented the Income Tax (Amendment) Bill and the Multinational Enterprise (Minimum Tax) Bill during their second reading in Parliament, on 14 October 2024, with the aim to modernise
Read More The Inland Revenue Authority of Singapore (IRAS) has updated its list of jurisdictions participating in the Multilateral Competent Authority Agreement (MCAA) for the exchange of Country-by-Country (CbC) reports on 11 October 2024. The recent
Read More
