singapore - Tax & Revenue

GST: General Guide for Businesses (Eighth Edition)

This guide provides an overview of the Goods and Services Tax (GST) in Singapore. It covers three broad categories which are GST Concepts and Principles, GST Administration and GST Schemes.
Date: 03 January 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

IRAS e-Tax Guide on Record Keeping Guide for GST-Registered Businesses (Fifth Edition)

This guide is designed to help GST-registered businesses prepare and keep records for Income Tax and GST purposes.
Date: 03 January 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Major Exporter Scheme (Ninth Edition)

This e-Tax Guide explains the mechanism and qualifying criteria for the Major Exporter Scheme and further provides guidance to GST-registered business who seek to apply for the scheme where GST is suspended on imports.
Date: 03 January 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Assisted Self-Help Kit Annual Review Guide (Seventh Edition)

This guide provides guidance to GST-registered business who undertake the Assisted Self-help Kit (ASK) review on a voluntary basis or as a requirement for specific purposes e.g. in the course of audit or application for or renewal of GST schemes.
Date: 03 January 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

Income Tax (Concessionary Rate of Tax for Approved Insurance Brokers) (Miscellaneous Amendments) Regulations 2019

These Regulations are deemed to have come into operation on 1 April 2018.
Date: 02 January 2019; Type: Federal Subsidiary Legislation; Citation: No. S 8; Source: Singapore Statutes Online

Customs (Duties) (Amendment No. 5) Order 2018

This Order comes into operation on 30 December 2018.
Date: 28 December 2018; Type: Federal Subsidiary Legislation; Citation: No. S 884; Source: Singapore Statutes Online

Customs (Exemption from Section 15(2)) Order 2018

This Order comes into operation on 30 December 2018.
Date: 28 December 2018; Type: Federal Subsidiary Legislation; Citation: No. S 885; Source: Singapore Statutes Online

Income Tax (Concessionary Rate of Tax or Exemption for Income Derived from Debt Securities) (Amendment) Regulations 2018

These Regulations come into operation on 27 December 2018.
Date: 27 December 2018; Type: Federal Subsidiary Legislation; Citation: No. S 868; Source: Singapore Statutes Online

Goods and Services Tax (Amendment) Act 2018

This Act seeks to amend the Goods and Services Tax Act and to make a consequential amendment to the Income Tax Act.
Date: 27 December 2018; Type: Federal Amendment Act; Citation: No. 45; Source: Singapore Statutes Online

IRAS e-Tax Guide on Change in Basis for Computing Taxable Car Benefit

This e-Tax guide replaces the previous two guides “Change in Basis for Computing Taxable Car Benefit” and “Basis for Computing Taxable Car Benefit”. This guide is relevant to those employers who provide cars to their employees and the employees derive benefits from their private usage of the cars.   
Date: 14 December 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Customer Accounting for Prescribed Goods (Second Edition)

This is to notify the implementing of Customer accounting for certain prescribed goods from 1 Jan 2019. This is to deter fraud schemes where the seller absconds with the GST collected, but businesses further down the supply chain continue to claim the input tax. It will be applicable to supplies of mobile phones, memory cards, and off-the-shelf sof ...
Date: 13 December 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Rules of Origin under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

This Circular outlines the salient points of the Rules of Origin requirements and operational procedures for exports of Singapore-originating goods claiming preferential tariff treatment in countries who are a party to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The Agreement will enter in force on 30 Dec 2018. Circul ...
Date: 12 December 2018; Type: Circular; Source: Customs Department

Claiming of Preferential Tariff Treatment for Imports under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

This is to notify that the Claiming of Preferential Tariff Treatment for Imports under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Free Trade Agreement which provides comprehensive market access and fosters greater regional integration between the 11 countries in the Asia-Pacific region, will be implemented on ...
Date: 12 December 2018; Type: Circular; Source: Customs Department

Public Consultation on Proposed Revisions to XBRL Filing Requirements and Data Elements

This is to notify that the Accounting and Corporate Regulatory Authority (ACRA) invites comments and feedback on the proposed revisions to XBRL (eXtensible Business Reporting Language) filing requirements and data elements. ACRA plans to implement the proposed revisions in early 2020.
Date: 30 November 2018; Type: Consultation Paper; Source: Accounting and Corporate Regulatory Authority

Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (Amendment No. 2) Notification 2018

This Notification comes into operation on 10 December 2018.
Date: 10 December 2018; Type: Federal Subsidiary Legislation; Citation: No. S 797; Source: Singapore Statutes Online

Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (Amendment No. 3) Notification 2018

This Notification comes into operation on 10 December 2018.
Date: 10 December 2018; Type: Federal Subsidiary Legislation; Citation: No. S 798; Source: Singapore Statutes Online

Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (Amendment) Notification 2018

This Notification comes into operation on 10 December 2018.
Date: 10 December 2018; Type: Federal Subsidiary Legislation; Citation: No. S 796; Source: Singapore Statutes Online

Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 2) Notification 2018

This Notification is deemed to have come into operation on 20 February 2018.
Date: 10 December 2018; Type: Federal Subsidiary Legislation; Citation: No. S 801; Source: Singapore Statutes Online

GST: Assisted Self-Help Kit (ASK) Annual Review Guide (Sixth edition)

This guide is to assist GST-registered business who are undertaking the Assisted Self-help Kit (ASK) review on a voluntary basis or as a requirement for specific purposes e.g. in the course of audit or application for or renewal of GST schemes.
Date: 03 December 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Exhibition Convention and Ancillary Services

This e-Tax Guide explains the GST treatment on common taxable supplies made by GST-registered persons in the Meetings, Incentive Travel, Conventions, and Exhibitions (MICE) industry.
Date: 03 December 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

INDUSTRY UPDATES

DLT introducing Electronic Licenses

BANGKOK, Jan 15 (NNT) - The Department of Land Transport (DLT) has officially begun to introduce electronic drivers licenses, launching a downloadable application that can digitally hold driver authorizations and vehicle details.

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INDUSTRY UPDATES

DOLE vows Aid for Workers displaced by Hanjin Bankruptcy

MANILA, Jan 15 (PNA) - The Department of Labor and Employment (DOLE) on Tuesday vowed to assist 3,800 workers of Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) who might be affected after the South Korean shipbuilder declared bankruptcy and applied for rehabilitation.

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INDUSTRY UPDATES

Over 100 Medicine Brands for Treatment of Diabetes, Hypertension, High Cholesterol now cheaper under TRAIN Law

The Food and Drug Administration (FDA) has submitted to the Department of Finance (DOF) a list of over 100 medicines with their corresponding generic names and brands for the treatment and prevention of diabetes, hypertension and high-cholesterol, the sale of which are now exempted from the payment of the value-added tax (VAT) beginning Jan. 1 as provided under the Tax Reform for Acceleration and Inclusion Act (TRAIN).

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INDUSTRY UPDATES

Tax Academy eyeing Campuses in Tagaytay, New Clark City

The Department of Finance (DOF) is planning to set up permanent campuses of the Philippine Tax Academy (PTA) in Tagaytay City in Cavite and New Clark City at the Clark Special Economic Zone in Pampanga.

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INDUSTRY UPDATES

Courts urged to speed up Judicial Reform

Hanoi, Jan 14 (VNA) - General Secretary of the Communist Party of Vietnam and President Nguyen Phu Trong has stressed the need for courts at all levels to speed up judicial reform and improve the quality of judgment to minimise inaccurate verdicts and overlooking criminals.

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INDUSTRY UPDATES

No Passport Data lost, breached: Government Printer

MANILA, Jan 14 (PNA) - No passport loss nor breach has occurred in the Department of Foreign Affairs (DFA), APO Production Unit Inc. (APUI), the current Philippine e-passport maker said Monday.

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INDUSTRY UPDATES

Complaint Boxes for Iskandar Puteri Schools to tackle Crimes

ISKANDAR PUTERI, Jan 14 (Bernama) - The Iskandar Puteri District police have suggested for the district’s schools to provide boxes for information or complaints to tackle various crimes involving students.

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INDUSTRY UPDATES

Tax Amnesty Programme aims to reduce People's Burden, says IRB

KUALA LUMPUR, Jan 14 (Bernama) - The Special Voluntary Disclosure Programme (SVDP) is a clear indication of the government's desire to reduce the burden of the people through taxation, Inland Revenue Board (IRB) chief executive officer Datuk Seri Sabin Samitah said.

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INDUSTRY UPDATES

Tengku Abdullah to be proclaimed as New Sultan of Pahang on January 15

PEKAN, Jan 12 (Bernama) - The Regent of Pahang Tengku Abdullah Sultan Ahmad Shah will be proclaimed as the sixth Sultan of Pahang, succeeding Sultan Ahmad Shah, on Jan 15.

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INDUSTRY UPDATES

Judges, Judicial Officers receive DoJ Training not due to High Profile Cases - CJ

PUTRAJAYA, Jan 11 (Bernama) - Chief Justice Tan Sri Richard Malanjum explained that the training of Malaysian judges and judicial officers by the United States Department of Justice (DOJ) was not due to the high profile money laundering cases, such as the ones involving former Prime Minister Datuk Seri Najib Tun Razak.

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INDUSTRY UPDATES

Adapt Technology and Work from anywhere, CJ tells Lawyers

PUTRAJAYA, Jan 11 (Bernama) - With the tagline ‘Now Anywhere Can Work’, lawyers can now deal with their cases from anywhere through the use of technology introduced by the judiciary in order to have an efficient court system, said Chief Justice Tan Sri Richard Malanjum today.

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INDUSTRY UPDATES

Malaysian Bar will continue to voice Concerns over use of Oppressive Laws - President

PUTRAJAYA, Jan 11 (Bernama) - The Malaysian Bar will continue to voice its concerns on the continued use of oppressive laws, said its president George Varughese.

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INDUSTRY UPDATES

Full Force of the Law to be applied to Wrongdoers, says AG

PUTRAJAYA, Jan 11 (Bernama) - Attorney-General Tommy Thomas said today the full force of the law would be applied to wrongdoers.

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INDUSTRY UPDATES

Matrade appoints Halim Mohamad as Chairman

KUALA LUMPUR, Jan 11 (Bernama) - Malaysia External Trade Development Corporation (Matrade) has appointed Tan Sri Halim Mohammad as its seventh chairman, effective Jan 1, 2019.

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INDUSTRY UPDATES

Vietnam requests other Countries to respect International Law

Hanoi, Jan 9 (VNA) - Foreign Ministry Spokesperson Le Thi Thu Hang underlined Vietnam’s stance on the US vessel USS McCampbell’s passage through Vietnam’s Hoang Sa (Paracel) waters, while responding to reporters’ questions regarding the case on January 9.

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INDUSTRY UPDATES

Justice Ministry should be “Goalkeeper” of Government in Legal Issues: PM

Hanoi, Jan 8 (VNA) - The Ministry of Justice should be the “goalkeeper” of the Government in international legal issues to ensure national rights and interests, Prime Minister Nguyen Xuan Phuc said at a conference of the sector in Hanoi on January 8.

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INDUSTRY UPDATES

Rizal granted Permission to transfer Corruption Case to High Court

KUALA LUMPUR, Jan 9 (Bernama) - The case of former special officer to the former Prime Minister, Datuk Rizal Mansor, who faces four corruption charges involving a solar hybrid system project for rural schools in Sarawak will be heard in the High Court.

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INDUSTRY UPDATES

Law Society Chief, Three Others appointed Senior Counsel

The President of the Law Society, Gregory Vijayendran, fellow litigator Siraj Omar, 46, as well as two former judicial commissioners of the Supreme Court, Foo Chee Hock, 58, and Foo Tuat Yien, 65, were conferred the coveted designation when their appointments were announced by Chief Justice Sundaresh Menon at the opening of the legal year.

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