singapore - Tax & Revenue

Stamp Duties (Agreements for Sale of Equity Interests) (Remission) Rules 2018

These Rules come into operation on 11 April 2018.
Date: 10 April 2018; Type: Federal Subsidiary Legislation; Citation: No. S 201; Source: Singapore Statutes Online

Tobacco (Control of Advertisements and Sale) (Tax Free World Association Asia Pacific Exhibition and Conference 2018) (Exemption) Order 2018

This Order provides that section 3 of the Tobacco (Control of Advertisements and Sale) Act does not apply to prohibit an exhibitor or organiser from publishing, causing to be published, or taking part in the publication of, any advertisement described in section 3(1)(a), (c) or (d) of the Act that is contained in the online 2018 exhibition dir ...
Date: 09 April 2018; Type: Federal Subsidiary Legislation; Citation: No. S 197; Source: Singapore Statutes Online

Overview of GST e-Filing Process

GST-registered businesses are required to e-File their returns through myTax Portal and make payment to IRAS.
Date: 14 March 2018; Type: Guideline; Source: Inland Revenue Authority of Singapore

BQY and Another v Comptroller of Income Tax

Revenue law - Income taxation

Date: 29 March 2018; Court: High Court; Citation: [2018] SGHC 75; Source: Singapore Law Watch

BRE v Comptroller of Income Tax

Revenue law - Income taxation

Date: 02 April 2018; Court: High Court; Citation: [2018] SGHC 77; Source: Singapore Law Watch

Goods and Services Tax (General) (Amendment) Regulations 2018

These Regulations come into operation on 1 April 2018.
Date: 29 March 2018; Type: Federal Subsidiary Legislation; Citation: No. S 179; Source: Singapore Statutes Online

Tax Season 2018 - File Taxes Early from 1 Mar

The Inland Revenue Authority of Singapore hereby notifies all taxpayers to file their income tax returns from 1 Mar to 18 Apr 2018.
Date: 26 February 2018; Type: Press Release; Source: Inland Revenue Authority of Singapore

Payments that are Subject to Withholding Tax

A person must withhold tax when payment of a specified nature has been made to non-resident companies and the rate of withholding tax depends on the nature of the payment.
Date: 28 February 2018; Type: Regulation; Source: Inland Revenue Authority of Singapore

IRAS e-Tax Guide on Pharmaceutical Manufacturing Industry: Tax Treatment of Research & Development and Intellectual Property-Related Expenditure (Third edition)

This e-Tax guide provides guidance on the tax treatment to companies in Singapore which develop, manufacture and market drugs for use as pharmaceuticals.
Date: 20 March 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

IRAS e-Tax Guide on GST: Guide for Property Developer (Third Edition)

This e-Tax guide explains the GST treatment on the supplies made in relation to the sale of properties by a developer and the claiming of GST on the construction of properties.
Date: 19 March 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Quick Guide to CRS Registration

This quick guide is to help all Reporting Singaporean Financial Institutions (SGFIs) to apply for CRS registration by 31 March 2018.
Date: 27 February 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Register for the Common Reporting Standard by 15 March 2018

This is to notify the deadline for all Reporting Singaporean Financial Institution (Reporting SGF) to register for the Common Reporting Standard (CRS) is 31 March 2018, and a failure to comply is considered an offence under the CRS Regulations. Inland Revenue Authority of Singapore strongly encourages registration by 1 ...
Date: 26 February 2018; Type: Circular; Source: Inland Revenue Authority of Singapore

Electronic Submission of Preferential Certificate of Origin for claiming of Preferential Tariff Treatment

This is to notify that form 1 April 2018, importers can submit electronic/scanned copy of the Preferential Certificate of Origin (PCO) or Self-Certification to Singapore Customs instead of a physical copy for the purpose of claiming preferential treatment for the import of originating stout/porter, beer including ale, medicated samsu and other ...
Date: 13 March 2018; Type: Circular; Source: Customs Department

IRAS e-Tax Guide on Pioneer Incentive: Capital Allowances upon Expiry of Tax Relief Period (Third Edition)

This e-Tax Guide spells out the manner of apportioning Capital Allowances under section 10(3A)(b) of the Economic Expansion Incentives (Relief from Income Tax) Act.
Date: 09 March 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Budget 2018 - Overview of Tax Changes

The Minister for Finance gives an overview of tax changes for the Financial Year 2018.
Date: 19 February 2018; Type: Circular; Source: Inland Revenue Authority of Singapore

Income Tax (Exemption of Foreign Income of Approved International Shipping Enterprises) Order 2018

This Order comes into operation on 8 March 2018.
Date: 08 March 2018; Type: Federal Subsidiary Legislation; Citation: No. S 128; Source: Singapore Statutes Online

Income Tax (Exemption of Foreign Income) (Amendment) Order 2018

The Minister for Finance makes the following Order to amend paragraph 2 of the Income Tax (Exemption of Foreign Income) (No. 3) Order 2002.
Date: 08 March 2018; Type: Federal Subsidiary Legislation; Citation: No. S 129; Source: Singapore Statutes Online

New Airport Development Levy from 1 July 2018

A new Airport Development Levy (ADL) will be introduced for passengers departing Singapore Changi Airport from 1 July 2018. The rate will be S$10.80 for passengers who begin their trips from Changi Airport and S$3.00 for passengers who start their trips elsewhere and connect through Changi Airport.
Date: 28 February 2018; Type: Legal News; Source: Civil Aviation Authority

IRAS e-Tax Guide on Transfer Pricing Guidelines (Fifth Edition)

This guide is relevant to those business entities incorporated or registered in Singapore or carrying on a business in Singapore and have transactions with related parties.
Date: 23 February 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Carbon Pricing Bill

This Bill seeks to require the reporting of, and the payment of a tax in relation to, greenhouse gas emissions, and to make consequential and related amendments to the Energy Conservation Act.
Date: 02 March 2018; Type: Federal Bill; Citation: Bill No. 17/2018; Source: Singapore Statutes Online

INDUSTRY UPDATES

Role of In-house Lawyers must evolve, says Judge

In an event that unveiled a study of local general counsel by the Singapore Corporate Counsel Association and global law firm CMS, Judge of Appeal Steven Chong has given in-house counsel several pointers on what they need to do in their evolving role.

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INDUSTRY UPDATES

Passenger-Facing Cameras: encrypt Recordings and restrict Access

The new rule that allows the cab and private-hire car drivers to install infacing cameras should not threaten the passenger privacy according to customer feedback.

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INDUSTRY UPDATES

Cabinet confirms Appointment of New Permanent Secretary of Finance

BANGKOK, Apr 18 (NNT) - The Cabinet has officially confirmed the appointment of the new Permanent Secretary of the Finance Ministry.

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INDUSTRY UPDATES

Thailand preparing to host 12th ASEAN Skills Competition

BANGKOK, Apr 18 (NNT) - Thailand is making preparations to host the 12th ASEAN Skills Competition, the objective of which is to urge adolescents and workers in the region to be enthusiastic about developing their skills in line with new technology.

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INDUSTRY UPDATES

Government pardons nearly 8500 Prisoners, including Student Activists’ Killer

The Presidential Office announced on Tuesday that 8541 prisoners, including 51 foreigners, were released from prisons across the country.

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INDUSTRY UPDATES

Tax Exemption on Mega Projects given since 1980s - Customs DG

PUTRAJAYA, Apr 19 (Bernama) - Tax exemptions have been awarded to several large projects owned by the Government since the 1980s, and the issue of waiving the Goods and Services Tax (GST) for procurement of materials and services related to the East Coast Rail Link (ECRL) project should not be played up, said Customs Director-General Datuk Seri Subromaniam Tholasy.

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INDUSTRY UPDATES

GST Compliance good, says Customs Department

KUALA LUMPUR, Apr 18 (Bernama) - The Goods and Services Tax (GST) compliance in Malaysia is good even though there is still a need to continue to promote tax education.

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INDUSTRY UPDATES

Illegal OFWs in Kuwait have until Thursday to avail of Amnesty Program

KUWAIT, Apr 18 (PNA) - Philippine Ambassador to Kuwait Renato Villa has announced that the Kuwaiti Department of Immigration under the Ministry of Interior has officially declared Thursday (April 19) as the last day for Filipinos to file their application for the amnesty program set to expire on April 22.

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INDUSTRY UPDATES

Indonesia, Vietnam discuss Cooperation in Fisheries and Maritime Affairs

Jakarta Apr 18 (ANTARA News) - Indonesian Foreign Minister Retno Marsudi discussed cooperation in maritime affairs and fisheries with her Vietnamese counterpart, Pham Bihn Mihn, during the third joint commission meeting between the two countries.

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INDUSTRY UPDATES

Government will not raise GST Rate - DPM Zahid

BAGAN DATUK, Apr 18 (Bernama) - The government has given an assurance that the country's Goods and Service Tax (GST) of sic per cent will not be raised, even after the 14th General Election.

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INDUSTRY UPDATES

Government approves Sekolah Menengah Chong Hwa's Federal Land Lease Application - Wan Junaidi

KUALA LUMPUR, Apr 17 (Bernama) - The government has approved the application of Sekolah Menengah Persendirian Chong Hwa, Sentul, for a 1.2 hectare of federal land under 99 years' lease for the purpose of building the school's sports complex.

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INDUSTRY UPDATES

World's First Crypto Currency Guarantee against Theft

KUALA LUMPUR, Apr 18 (Bernama) - In a world's first, GoldCrypto will protect and guarantee its cryptocurrency tokens from any theft through hacking.

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INDUSTRY UPDATES

DILG has New Undersecretary, Assistant Secretary

MANILA, Apr 17 (PNA) - The Department of the Interior and Local Government (DILG) on Tuesday welcomed the appointment of two retired Philippine National Police (PNP) officials as the department’s new undersecretary and assistant secretary.

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INDUSTRY UPDATES

Indonesia calls on UNESCO to legitimize 19 Cultural Properties

Jakarta, Apr 16 (ANTARA News) - Indonesia is striving for its 19 cultural properties in the temporary list of World Heritage Center of United Nations Educational, Scientific and Cultural Organization (UNESCO) to be recognized soon.

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INDUSTRY UPDATES

Sri Mulyani named Best Finance Minister in Asia Pacific

Jakarta, Apr 16 (ANTARA News) - Finance Minister, Sri Mulyani Indrawati, was named the best Finance Minister in Asia and the Pacific for 2018 by Hong Kong-based financial magazine FinanceAsia for the second time in a row.

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