Singapore: IRAS updates guidance on foreign tax credit claims
The updated guidance now features a revised eligibility flowchart and provides clearer time limits for claiming a Foreign Tax Credit (FTC). The Inland Revenue Authority of Singapore (IRAS) has released revised guidance on claiming a Foreign Tax
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Singapore: IRAS issues ruling on tax treatment of cash premium in REIT securities exchange
IRAS clarified tax treatment of REIT securities exchange. The Inland Revenue Authority of Singapore (IRAS) has released Advance Ruling Summary No. 20/2025 on 1 September 2025, outlining the tax implications of a cash premium paid in connection
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Singapore: IRAS issues advance ruling on tax treatment of business transfer transactions
Singapore’s tax authority has clarified the income tax treatment of business transfer transactions in Advance Ruling Summary No. 19/2025, confirming that such transfers are capital in nature, with specific rules applying to inventories, capital
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Philippines, Singapore to revise income tax treaty
The first round of negotiations took place from 2-4 September 2025. The Philippines’ Department of Finance announced the beginning of discussions to revise its 1977 tax treaty with Singapore on 25 September 2025, with the aim of updating the
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Singapore: IRAS clarifies tax treatment of revaluation gains in company liquidation
IRAS rules revaluation gains on overseas shares in liquidation are not taxable. The Inland Revenue Authority of Singapore (IRAS) has issued Advance Ruling Summary No. 18/2025 on 1 September 2025, addressing the tax treatment of revaluation gains
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Singapore: IRAS Advance Ruling clarifies which companies qualify under Section 13O tax incentive
The test assesses if an investor’s share in a fund is small enough to prevent penalties and maintain the fund’s tax-exempt status. The Inland Revenue Authority of Singapore (IRAS) has released Advance Ruling Summary 17/2025 on 1 September
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Brazil completes ratification of tax treaty protocol with Singapore
This protocol is the first amendment to the 2018 Brazil–Singapore income tax treaty. Brazil has issued Legislative Decree No. 203 on 19 September 2025, which marks the ratification of the protocol to its 2018 income tax treaty with
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Brazil: Senate approves tax treaty protocol with Singapore
Signed on 17 April 2023, this is the first update to the 2018 Brazil - Singapore income tax treaty. Brazil’s Senate has approved the amending protocol to the 2018 Brazil - Singapore income tax treaty through Draft Legislative Decree No.
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Singapore: IRAS publishes updated FAQs on GST registration obligations
IRAS updated its FAQs on 28 August 2025 to clarify GST registration requirements for businesses.= The Inland Revenue Authority of Singapore has updated its guidance on Do I need to register for GST on 28 August 2025. This includes new and
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Nigeria, Singapore IPA enters into force
Nigeria and Singapore first signed the IPA in November 2016. The 2016 Nigeria-Singapore Investment Protection Agreement (IPA) entered into force on 22 August 2025. Signed in November 2016, the agreement will remain valid for 10 years and can
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Singapore: IRAS updates GST guide for businesses
The guide provides an overview of the Goods and Services Tax (GST) in Singapore. It covers three broad categories: GST Concepts and Principles, GST Administration and GST Schemes. The Inland Revenue Authority of Singapore (IRAS) has released the
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Singapore: IRAS updates guidance on completing GST form F5
The update provides detailed, box-by-box guidance for filling out Form GST F5, the standard form used for reporting GST. The Inland Revenue Authority of Singapore (IRAS) has released revised instructions for completing GST returns. The update
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Singapore: IRAS updates procedure for GST registration cancellation
The Inland Revenue Authority of Singapore (IRAS) has revised its guidance regarding the cancellation of GST registration on 22 August 2025. GST registration must be cancelled within 30 days in the following situations: Taxable supplies have
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Singapore: IRAS revises GST filing guidance on error corrections and extension requests
IRAS updates GST filing guidance, outlining error corrections, refund claims, and deadlines for extensions. Singapore’s tax authority (IRAS) released revised instructions regarding the correction of errors in Goods and Services Tax (GST)
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Taiwan, Singapore negotiate to update tax treaty
Taiwan and Singapore first signed an income tax treaty in 1981. Taiwan’s Ministry of Foreign Affairs has announced, on 19 August 2025, that negotiations to update the 1981 tax treaty with Singapore are ongoing. Although specific updates
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Singapore: IRAS publishes details on GST audit, enforcement activities
IRAS reports over 2,800 GST audits in FY 2024-25, recovering SGD 205 million and urging businesses to improve compliance and voluntarily disclose errors. The Inland Revenue Authority of Singapore (IRAS) has released details regarding its GST
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Singapore: IRAS rules capital gains from property interest transfers are tax-exempt
IRAS ruled on 1 August 2025 that gains from intra-group transfer of long-held investment properties are capital and not taxable. The Inland Revenue Authority of Singapore (IRAS) released an advance ruling summary no. 16/2025 on 1 August 2025,
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Singapore clarifies tax treatment of intercompany loan settlements using promissory notes
IRAS confirms that settling intercompany loans via offshore promissory notes does not amount to deemed remittance into Singapore. Singapore's Inland Revenue Authority (IRAS) has released an Advance Ruling Summary No. 15/2025 on 1 August 2025,
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