Singapore: IRAS updates list of jurisdictions participating under MCAA-CbC
On 19 January 2024, the Inland Revenue Authority of Singapore (IRAS) updated the list of jurisdictions participating under the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports. Under the
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Singapore: IRAS publishes update e-tax guide on common reporting standard
On 12 January 2024, the Inland Revenue Authority of Singapore (IRAS) published an updated e-Tax Guide on common reporting standard. The Common Reporting Standard (CRS) is a globally accepted standard designed for the automatic exchange of financial
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Singapore: IRAS releases updated guidance on tax residency and certificates of residence
On 29 November 2023, the Inland Revenue Authority of Singapore (IRAS) released updated guidance on the tax residency of a company/ certificate of residence and applying for a certificate of residence/ tax reclaim form for companies. The most
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Singapore Gazettes Order Declaring MCAA-CbC
On 6 November 2023, the Singaporean Official Gazette issued Order No. S 714 confirming the effective dates for the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country Reports (CbC) with specific jurisdictions.
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Singapore: IRAS updates list of jurisdictions participating under MCAA-CbC
On 30 October 2023, the Inland Revenue Authority of Singapore (IRAS) updated the list of jurisdictions participating under the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports. Under the list:
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Singapore updates list of jurisdictions under MCAA-CbC
On 20 July 2023, the Inland Revenue Authority of Singapore (IRAS) updated the list of jurisdictions participating under the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports. Aruba has been
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Singapore publishes guidance on corporate income tax filing for 2023
The Inland Revenue Authority of Singapore (IRAS) has released comprehensive guidance for the corporate income tax filing season 2023. The guidance provides detailed instructions on various aspects of tax filing, ensuring taxpayers understand the
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Singapore introduce a new enterprise innovation scheme
The government of Singapore announced a new enterprise innovation scheme in Budget 2023 .The Enterprise Innovation Scheme (EIS) is a new initiative announced in Budget 2023 to encourage businesses to engage in research and development, innovation,
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Singapore: IRAS publishes updated e-tax guide on the Carry-Back relief system
On 31 Mar 2023, the Inland Revenue Authority of Singapore has released the eighth edition of the e-Tax Guide on the Carry-Back Relief System. This updated guide provides important information for individuals and businesses that have unabsorbed
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Singapore: IRAS updates e-Tax Guide on the general anti-avoidance provision and its application
On 31 Mar 2023, the Inland Revenue Authority of Singapore (IRAS) published the second edition of its e-Tax Guide concerning The General Anti-Avoidance Provision and its Application. The updated guide includes the following main purposes: First,
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Singapore: IRAS updates list of jurisdictions under CbC reporting
On 24 March 2023, the Inland Revenue Authority of Singapore (IRAS) updated the list of countries involved in the automatic exchange of Country-by-Country reports (CbC) under the Multilateral Competent Authority Agreement (MCAA). Israel is included
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Singapore intends to implement BEPS GloBE rules from 2025
On 14 February 2023, Singapore announced in its Budget 2023 intending to implement Global Anti-Base Erosion (GloBE) rules under BEPS Pillar 2 and Domestic Top-up Tax (DTT) for large Multinational Enterprise (MNE) groups from businesses' financial
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Singapore: Ministry of Finance Gazettes Order Declaring MCAA-CbC
On 27 January 2023, the Singaporean Official Gazette issued an Order No. S 26, which declares that the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country Reports (CbC) is an international tax compliance agreement
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Singapore: IRAS releases guidance on tax treatment of gains or losses from the sale of foreign assets
On 8 December 2023, the Inland Revenue Authority of Singapore (IRAS) released an updated e-tax guide on the tax treatment of gains or losses from the sale of foreign assets under the recently introduced Section 10(L) of the Income Tax Act (ITA).
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Singapore: IRAS updates TP Guidelines on indicative margin for related-party loans
On 3 January 2023, the Inland Revenue Authority of Singapore (IRAS) published updated transfer pricing (TP) guidelines on indicative margin for related-party loans. IRAS publishes the indicative margin at the beginning of each calendar year. The
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Singapore: IRAS publishes updated e-tax guide on tax exemption
On 1 December 2022, the Inland Revenue Authority of Singapore (IRAS) published an updated e-Tax Guide on tax exemption for Real estate investment trusts and qualifying offshore infrastructure project or asset. The e-Tax Guide describes the scenarios
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Singapore introduces income tax reform Act 2022
On 4 November 2022, Singapore's official Gazette published the income tax (Amendment) Act 2022. The Act includes the following measures: Extension of withholding tax exemption to 31 March 2023 from 31 March 2022 for foreign mediators and
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Singapore: IRAS updates e-tax guide on country-by-country reporting
On 31 October 2022, the Inland Revenue Authority of Singapore (IRAS) published the fourth edition of its e-Tax Guide concerning country-by-country (CbC) reporting. The updated guide includes the following main amendments: Amended to incorporate
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