singapore - Tax & Revenue - Notices & Directives

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

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

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

Notification of Tariff Changes

This Circular is to notify that the tariff changes in the excise duty will take effect from 19 February 2018. Circular No. 01/2018
Date: 19 February 2018; Type: Circular; Source: Customs Department

CorpPass will be the only Mode of Login for Companies to Transact with Singapore Customs from Q3 2018

From Q3 2018, the Singapore Corporate Access (or CorpPass) will be the only login method for companies to transact with the Government. Existing users of Singapore Customs e-Services should register for CorpPass to avoid any inconvenience in the future when the current mode of login will no longer be available. Notice No: 01/2018
Date: 01 February 2018; Type: Circular; Source: Customs Department

IRAS e-Tax Guide on Tax Deduction for Expenses incurred on Renovation or Refurbishment Works done to Business Premises

This e-Tax Guide explains the tax deduction granted under section 14Q of the Income Tax Act ("ITA”) for the capital expenses incurred by taxpayers for the renovation or refurbishment works done to their business premises.
Date: 25 January 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Late Filing or Non-Filing of Tax Returns

Inland Revenue Authority of Singapore (IRAS) informs all Businesses to file GST returns on time and to log in with their CorpPass to transact with IRAS from mid-2018. Further, CorpPass will also replace EASY as the authorisation system for businesses to authorise staff/ third party to access IR ...
Date: 04 January 2018; Type: Circular; Source: Inland Revenue Authority of Singapore

IRAS e-Tax Guide on Income Tax Treatment Arising from Adoption of FRS 115

This e-Tax guide provides guidance on the tax treatment for entities adopting FRS 115 and explains the tax treatment of transitional adjustments made from the adoption of the Standard.
Date: 12 January 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Self-Accounting of GST by Listed REITs and their SPVs for Property Purchases (Third Edition)

This guide explains the application and operational details of self-accounting of GST on property purchases by public-listed Real Estate Investment Trusts and their special purpose vehicles.
Date: 01 January 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Property Tax: Guide for Hotel Owners and Operators (Second Edition)

This e-Tax Guide explains how property tax is assessed for licensed hotels in Singapore from 1 Jan 2018 onwards, under the Property Tax (Valuation By Gross Receipts for Hotel Premises) (Amendment) Order 2017.
Date: 02 January 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Guide for Property Developer (Second Edition)

This guide explains the GST treatment on the supplies made in relation to the sale of properties by you as a developer and the claiming of GST on the construction of properties.
Date: 01 January 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Real Estate Agency Industry (Second Edition)

This guide explains the application of GST on taxable supplies made by GST-registered estate agents and salespersons.
Date: 01 January 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

INDUSTRY UPDATES

CCCS clears Proposed Merger between Essilor and Luxottica

The Competition and Consumer Commission of Singapore (“CCCS”) has issued a clearance decision on the proposed merger between Essilor International (Compagnie Generale d’Optique) S.A (“Essilor”) and Luxottica Group, S.p.A. (“Luxottica”) (collectively “Parties”). CCCS has concluded that the merger, if carried into effect, will not infringe the section 54 prohibition of the Competition Act (Cap. 50B).

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INDUSTRY UPDATES

House and Senate successfully hold “Sports Dual Meet 2018”

The House of Representatives and the Senate on Thursday successfully held their second congressional sports invitational tournament dubbed “Sports Dual Meet 2018” at the House Sports Complex in Batasan Hills, Quezon City.

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INDUSTRY UPDATES

President Joko Widodo to attend ASEAN Summit in Singapore

Jakarta Apr 20 (ANTARA News) - President Joko Widodo will attend the the 32nd Association of Southeast Asian Nations (ASEAN) Summit in Singapore on April 27-28, 2018.

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INDUSTRY UPDATES

Police probes Facebook over Data Privacy Violation

Jakarta, Apr 19 (ANTARA News) - The National Police is currently investigating third-party applications on Facebook that have allegedly violated the data privacy of users, an official stated here on Thursday.

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INDUSTRY UPDATES

Lawyer claims Trial to CBT of more than RM100,000

GEORGE TOWN, Apr 20 (Bernama) - A lawyer pleaded not guilty in the Sessions Court here today to criminal breach of trust involving more than RM100,000.

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INDUSTRY UPDATES

IRBM confirms having issued Letters to International Schools

KUALA LUMPUR, Apr 19 (Bernama) - The Inland Revenue Board of Malaysia (IRBM) today confirmed that it had recently issued letters to the management of several international schools, here.

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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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