Singapore: IRAS confirms economic substance exemptions for foreign gains
The two advance rulings confirms that gains from foreign asset disposals are not taxable where economic substance requirements are met. The Inland Revenue Authority of Singapore (IRAS) has published two advance ruling summaries (Nos. 13/2025
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Singapore: IRAS releases 8th edition guide on additional conveyance duties
This guide outlines the Additional Conveyance Duties (ACD) introduced on 11 March 2017, covering their treatment and calculation for acquiring or disposing of equity interests in property-holding entities (PHEs) primarily owning Singapore
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Singapore updates GST e-tax guides on prospective registration and gross margin scheme
The updated GST e-Tax Guides will revise registration timelines and ease GMS adoption requirements. The Inland Revenue Authority of Singapore (IRAS) has revised multiple Goods and Services Tax (GST) e-Tax Guides, effective from 1 July 2025,
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Singapore: IRAS issues 8th edition e-tax guide on income tax treatment of REIT ETFs
IRAS’s eighth edition of its e-tax guide outlines the income tax treatment of REIT ETFs receiving distributions from S-REITs and qualifying for tax concession schemes. Singapore’s Inland Revenue Authority (IRAS) released the eighth edition
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Singapore: Customs mandates accurate origin declarations in permit applications
Singapore Customs mandates accurate declaration of "Country/Region of Origin" in permit applications, detailing origin criteria under trade agreements and non-preferential rules, with penalties for non-compliance. Singapore Customs issued
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Singapore: IRAS updates guidance on GST registration based on prospective view
IRAS updates GST registration rules, introducing a two-month grace period for businesses forecasting turnover above SGD 1 million from July 2025. The Inland Revenue Authority of Singapore (IRAS) has updated its Goods and Services Tax (GST)
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Singapore adds Cameroon to CbCR exchange list for FY2024
The update takes effect for financial years (FY) starting from 2024. The Inland Revenue Authority of Singapore (IRAS) has updated its Country-by-Country Reporting (CbCR) guidance as of 20 June 2025, expanding the list of jurisdictions eligible
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Singapore: IRAS issues advance ruling on taxation of IP transfers
IRAS has ruled that payments received by a Singapore company for transferring Improvement IP to a related party are non-taxable capital receipts as part of a group restructuring. The Inland Revenue Authority of Singapore (IRAS) has released
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Singapore: IRAS updates e-tax guide on foreign asset disposal gains
IRAS revises tax rules for foreign asset sales—gains may be taxable if transactions lack economic substance in Singapore, effective 1 January 2024. The Inland Revenue Authority of Singapore (IRAS) published an updated e-Tax Guide Income Tax:
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Singapore: IRAS exempts PEHE foreign disposal gains under Advance Ruling 7/2025
Singapore’s IRAS confirms that pure equity-holding entities meeting economic substance requirements will be exempt from tax on foreign-sourced disposal gains under Advance Ruling 7/2025. Singapore’s IRAS has issued Advance Ruling Summary
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Singapore: IRAS updates GST concession guide for Singapore-listed REITs and business trusts
The Inland Revenue Authority of Singapore has updated its e-Tax Guide to clarify GST concession procedures for listed REITs and Business Trusts, confirming that separate claims statements are no longer required unless requested and extending the
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Singapore: IRAS issues advance ruling on tax treatment of agreement novation
IRAS rules that novation of agreements in group restructuring is a capital, non-taxable transaction. The Inland Revenue Authority of Singapore (IRAS) issued Advance Ruling No. 6/2025 on 2 May 2025, explaining the tax treatment of transferring
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Singapore issues guidance on key GST audit focus areas and compliance risks
The Inland Revenue Authority of Singapore (IRAS) has released guidance on the key areas of GST compliance audits, outlining the consequences of non-compliance on 13 May 2025. Current Areas of Audits GST is a self-assessed tax. IRAS conducts
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EU, Singapore sign landmark digital trade agreement
The European Union ( EU) and Singapore have taken a significant step forward in their bilateral trade relations with the signing of a landmark Digital Trade Agreement (DTA). Signed by Commissioner for Trade and Economic Security Maroš Šefčovič
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Singapore: IRAS issues corporate tax filing guidance for YA 2025
The Inland Revenue Authority of Singapore (IRAS) has issued new guidance to assist companies with their obligations for the Corporate Income Tax Filing Season 2025 on 8 May 2025. Companies are required to file their Corporate Income Tax Return
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Singapore: IRAS updates corporate tax calculators for AY 2025
The Inland Revenue Authority of Singapore (IRAS) has updated its webpage for preparing tax computations by publishing two Basic Corporate Income Tax Calculators (BTC) for the assessment year (AY) 2025. These Excel-based calculators are tailored
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Singapore issues advance ruling on taxable presence for companies selling locally manufactured goods
The Inland Revenue Authority of Singapore (IRAS) has released Advance Ruling Summary No. 5/2025 on 2 May 2025, addressing whether a company establishes a taxable presence in Singapore through the sale of locally produced goods to Singaporean
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Singapore revises guidelines on withholding tax for specific payments
The Inland Revenue Authority of Singapore (IRAS) has released revised guidance on payments liable to withholding tax on 25 April 2025. The guidance outlines the types of payments subject to withholding tax when made to non-resident companies:
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