singapore - Tax & Revenue

MoF invites Feedback on proposed changes to the Income Tax Act

The Ministry of Finance have invited interested parties to provide feedback on the draft Income Tax (Amendment) Bill 2018 from 20 June to 11 July 2018.
Date: 20 June 2018; Type: Industry Updates; Source: Ministry of Finance

IRAS e-Tax Guide on Avoidance of Double Taxation Agreements

This e-Tax Guide provides taxpayers with guidance on the interpretation and application of Singapore’s Double Taxation Agreements (DTAs) and the Mutual Agreement Procedure under Singapore’s DTAs.
Date: 08 June 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Customs (Duties) (Amendment No. 2) Order 2018

This Order comes into operation on 24 June 2018.
Date: 11 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 390; Source: Singapore Statutes Online

Summary of Responses to the Public Consultation on GST: Taxing Imported Services by Way of Reverse Charge and Taxing Imported Services by way of an Overseas Vendor Registration Regime

This is to notify that the Inland Revenue Authority of Singapore (IRAS) had received a total of 43 feedback submissions on the two draft e-Tax Guides, “GST: Taxing imported services by way of reverse charge” and “GST: Taxing imported services by way of an overseas vendor registration regime”. The IRAS has carefully considere ...
Date: 31 May 2018; Type: Feedback; Source: Inland Revenue Authority of Singapore

Revised Application Procedures for Customs eServices

This is to notify that with effect from 20 June 2018 the application forms for the certificates will be available through the National Trade Platform website. Notice No. 12/2018
Date: 12 June 2018; Type: Circular; Source: Customs Department

Customs (Duties) (Exemption) (Amendment) Order 2018

This Order comes into operation on 24 June 2018.
Date: 11 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 391; Source: Singapore Statutes Online

Customs (Manufacturing Licence) (Exemption) (Amendment) Order 2018

This Order comes into operation on 24 June 2018.
Date: 11 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 392; Source: Singapore Statutes Online

Regulation of Imports and Exports (Summit Between the United States of America and the Democratic People’s Republic of Korea) (Exemption) Regulations 2018

These Regulations are in force for the period between 9 June 2018 and 14 June 2018.
Date: 07 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 378; Source: Singapore Statutes Online

Company Director jailed 4 weeks for omitting to account for GST on Property Sale

Kho Foong Kuin (“Kho”), a director of a security and firefighting supplies company, Speed Safety International Pte Ltd (“Speed Safety”), has been convicted for not reporting the amount of Good and Services Tax (GST) collected from the sale of a non-residential property at Tuas View Place (the “Property”) in the c ...
Date: 01 June 2018; Type: Legal News; Source: Inland Revenue Authority of Singapore

Carbon Pricing Act 2018

This Act provides for the reporting of, and the payment of tax in relation to, greenhouse gas emissions, and to makes consequential amendments to the Energy Conservation Act.
Date: 01 June 2018; Type: Federal Act; Citation: No. 26; Source: Singapore Statutes Online

Public Utilities (Waterborne Tax) (Amendment) Order 2018

This Order comes into operation on 1 July 2018.
Date: 01 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 362; Source: Singapore Statutes Online

Statutory Boards (Taxable Services) (Amendment) Order 2018

This Order comes into operation on 1 July 2018.
Date: 01 June 2018; Type: Federal Subsidiary Legislation; Citation: No. S 363; Source: Singapore Statutes Online

Customs (Customs Airports) (Amendment) Regulations 2018

These Regulations come into operation on 2 June 2018.
Date: 31 May 2018; Type: Federal Subsidiary Legislation; Citation: No. S 337; Source: Singapore Statutes Online

Customs (Miscellaneous Fees and Rates) (Amendment) Regulations 2018

These Regulations come into operation on 2 June 2018.
Date: 31 May 2018; Type: Federal Subsidiary Legislation; Citation: No. S 339; Source: Singapore Statutes Online

Customs (Offices and Stations) (Amendment) Regulations 2018

These Regulations come into operation on 2 June 2018.
Date: 31 May 2018; Type: Federal Subsidiary Legislation; Citation: No. S 338; Source: Singapore Statutes Online

Income Tax (Exemption of Foreign Income) (No. 2) Order 2018

This Order by the Minister for Finance exempts the income received in Singapore by Lee Rubber Company (Pte) Limited and Selat (Pte) Limited from being taxed under the Income Tax Act for the specified period.
Date: 25 May 2018; Type: Federal Subsidiary Legislation; Citation: No. S 323; Source: Singapore Statutes Online

Updates to the Exemption of Goods and Services Tax for Investment Precious Metals

Changes in the importation of Investment Precious Metals that are exempted from Goods and Services Tax, effective from 23 May 2018. Notice No. 09/2018
Date: 25 May 2018; Type: Circular; Source: Customs Department

Singapore Trade Classification Customs and Excise Duties 2018

The Singapore Trade Classification, Customs and Excise Duties (STCCED) 2018 will replace its current (2012) version. STCCED 2018 incorporates the ASEAN Harmonised Tariff Nomenclature (AHTN) 2017.
Date: 22 May 2018; Type: Circular; Source: Customs Department

Goods and Services Tax Act (Amendment of Fourth Schedule) Order 2018

This Order comes into operation on 23 May 2018.
Date: 22 May 2018; Type: Federal Subsidiary Legislation; Citation: No. S 312; Source: Singapore Statutes Online

Customs (Amendment) Bill

This Bill seeks to amend the Customs Act and to make a related amendment to the Road Traffic Act. Furthermore, Section 19(1), (2) and (3) of the Customs (Amendment) Act 2018 is deemed to have come into operation on 20 February 2017.
Date: 17 May 2018; Type: Federal Bill; Citation: Bill No. 26/2018; Source: Singapore Statutes Online

INDUSTRY UPDATES

DOJ-OOC continues Conduct of Judicial Training on Cybercrime for the ASEAN Prosecutors and Judges

The Department of Justice - Office of Cybercrime (DOJ-OOC), in partnership with the Supreme Court of the Philippines and the Global Action on Cybercrime Extended (GLACY+) Project, is set to conduct the Advanced Judicial Training Course on Cybercrime and Electronic Evidence for Judges, Magistrates and Prosecutors for the ASEAN Region in Cebu, Philippines on 19-22 June 2018.

Read More

INDUSTRY UPDATES

DOJ Chief: Amended Constitution must clarify Impeachment Rules

MANILA, June 21 (PNA) - The country's Constitution, once amended, must clarify the rules on impeachment to avoid controversies in the future, Justice Secretary Menardo Guevarra said on Thursday.

Read More

INDUSTRY UPDATES

Guevarra on granting Fox's Appeal: 'it's following the Rule of Law'

MANILA, June 21 (PNA) - Justice Secretary Menardo Guevarra on Thursday clarified that he is just following the rule of law when he granted the appeal of Australian nun Sr. Patricia Fox to reverse the Bureau of Immigration's decision forfeiting her visa and ordering her to leave the country.

Read More

INDUSTRY UPDATES

UK eases Visa Application Processes for Indonesian Students

Jakarta, June 20 (ANTARA News) - The United Kingdom (UK) Visas & Immigration service is easing visa application processes for Indonesian students by reducing the documentation requirements for Tier-4 student visa applicants.

Read More

INDUSTRY UPDATES

Indonesia, Finland achieve Significant Increase in Bilateral Ties

Jakarta, June 21 (ANTARA News) - Indonesia and Finland have achieved a significant increase in bilateral ties in 2017, Indonesian Foreign Minister Retno LP Marsudi said.

Read More

INDUSTRY UPDATES

Some Workers at Thai Factory agree to Compensation

Half of the nearly 300 Myanmar workers who were sacked by a fishing net factory in Thailand have agreed to a promise by their employer to pay them 13 days of unpaid wages.

Read More

INDUSTRY UPDATES

KPKT reviews National Housing Policy - Zuraida

KUCHING, June 21 (Bernama) - The Ministry of Housing and Local Government (KPKT) is reviewing the national housing policy to ensure it is suitable to the current situation in the country, said its minister Zuraida Kamaruddin.

Read More

INDUSTRY UPDATES

Government under rising pressure to correctly tax Ride-Hailing Companies

Since June 13, ride hailing companies operating in Yangon have been obliged to pay income and commercial tax to the Yangon government under the law, U Myint Thaung, regional minister of Planning and Finance said in parliament.

Read More

INDUSTRY UPDATES

PM Prayut: Death Penalty is Legitimate and most People agree

BANGKOK, June 20 (NNT) - The Prime Minister, Gen. Prayut Chan-o-cha, has voiced support for the execution of convicted murderers.

Read More

INDUSTRY UPDATES

Government welcomes Opinions about Implementation of Thailand 4.0 Policy

BANGKOK, June 19 (NNT) - The government continues efforts to implement the Thailand 4.0 policy while welcoming opinions from all sides on helping to achieve its goal.

Read More

INDUSTRY UPDATES

On World Refugee Day, De Lima files Bill to protect Refugees and Stateless Persons

In observance of World Refugee Day, Opposition Senator Leila M. de Lima today filed a measure seeking to promote and protect the rights of refugees and stateless persons in the country and prescribe a fair procedure for their status determination and eligibility.

Read More

INDUSTRY UPDATES

MoF invites Feedback on proposed changes to the Income Tax Act

The Ministry of Finance have invited interested parties to provide feedback on the draft Income Tax (Amendment) Bill 2018 from 20 June to 11 July 2018.

Read More

INDUSTRY UPDATES

Labor Ministry aims to find Jobs for 100,000 Unemployed Graduates

BANGKOK, June 19 (NNT) - The Labor Minister, Pol. Gen. Adul Sangsingkeo, said the Ministry of Labor aims to find jobs for about 100,000 unemployed graduates within three months.

Read More

INDUSTRY UPDATES

Ex-President Aquino sued over DAP Mess

MANILA, June 20 (PNA) - Ombudsman Conchita Carpio Morales has indicted former President Benigno Simeon Aquino III for usurpation of legislative powers in connection with the alleged anomalous Disbursement Acceleration Program (DAP).

Read More

INDUSTRY UPDATES

Duterte appoints CA, Sandiganbayan Associate Justices

MANILA, June 20 (PNA) - President Rodrigo R. Duterte has appointed new associate justices at the Court of Appeals (CA) and Sandiganbayan. Duterte appointed Emily Aliño-Geluz as CA Associate Justice and Georgina Dumpit Hidalgo as Sandiganbayan Associate Justice.

Read More