singapore - Tax & Revenue - Notices & Directives

GST: Transfer of Business as a Going Concern and Other Excluded Transactions (Third Edition)

This e-Tax Guide explains and provides examples of transactions that are regarded as neither a supply of goods nor services and hence are not subject to GST.
Date: 22 April 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

IRAS e-Tax Guide on Carry-Back Relief System (Fourth Edition)

This e-Tax Guide provides details on the carry-back relief system. The carry-back relief under Section 37E of the Income Tax Act is available to all persons carrying on a business, including sole-proprietorships and partnerships.
Date: 09 April 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Advance Ruling System (Fourth Edition)

This e-Tax Guide explains the GST advance ruling system and the application procedures.
Date: 05 April 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

IRAS e-Tax Guide on Corporate Income Tax-Objection and Appeal Process (Second Edition)

This e-Tax Guide sets out the administrative aspects of to the objection and appeal process and provides guidance to taxpayers on filing a valid objection.
Date: 04 April 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

IRAS e-Tax Guide on Group Relief System (Second Edition)

This e-Tax Guide provides details on the group relief system effective from the Year of Assessment 2003.
Date: 29 March 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

Claiming GST on Expenses for Qualifying Funds

This is to notify that when the financial services provided fall within the 4th Schedule of the GST Act, the services are exempt supplies. No GST needs to be charged for exempt supplies.
Date: 28 March 2019; Type: Guideline; Source: Inland Revenue Authority of Singapore

GST: Guide on Exemption of Investment Precious Metals (IPM) (Ninth Edition)

This e-Tax Guide provides details on the GST exemption of investment gold, silver and platinum. It is relevant to businesses that trade in physical gold, silver and platinum.
Date: 27 March 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: For Retailers Participating in Tourist Refund Scheme (Refund Claims made on or after 4 Apr 2019)

This e-Tax guide provides details on the features and refund mechanism of the Electronic Tourist Refund Scheme (eTRS).
Date: 22 March 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Guide for Visitors on Tourist Refund Scheme (Refund Claims made on or after 4 Apr 2019)

This e-Tax Guide provides details on how you can get a refund of the GST paid on the goods you have purchased and brought out of Singapore.
Date: 22 March 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: The Electronic Tourist Refund Scheme (eTRS) (Refund Claims made on or after 4 Apr 2019)

This guide aims to cover the description of the process and data flow, conditions and fee applicable for the participation, application procedures and an overview of the system requirements under the Electronic Tourist Refund Scheme (eTRS).
Date: 22 March 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

IRAS e-Tax Guide on Income Tax Treatment of Foreign Exchange Gains or Losses for Businesses (Second Edition)

This e-Tax Guide provides details on the tax treatment of foreign exchange gains or losses for businesses (banks and businesses other than banks).
Date: 14 March 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Approved Third Party Logistics Company Scheme (Third Edition)

This e-Tax Guide explains how the Approved Third Party Logistics (3PL) Company Scheme works and the qualifying conditions.
Date: 11 March 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

MOF Invites Feedback on Proposed Legislative Amendments for the Corporate Income Tax Treatment of Variable Capital Companies

This is to notify that the Ministry of Finance seeks feedback from 6 to 21 March 2019, on the proposed changes to the Income Tax Act (ITA), which will be amended via the Variable Capital Companies (Miscellaneous Amendments) Bill 2019.
Date: 06 March 2019; Type: Press Release; Source: Ministry of Finance

E-Filing of Income Tax for Year Assessment 2019

Guidelines on how to E-File Income Tax for the Assessment Year 2019.
Date: 07 March 2019; Type: Guideline; Source: Inland Revenue Authority of Singapore

Public Consultation on Proposed Legislative Amendments for the GST and Stamp Duty Treatment of Variable Capital Companies (VCCS)

This is to notify that the Ministry of Finance seeks public feedback from 14 February to 1 March 2019 on the proposed amendments to the Goods and Services Tax Act and Stamp Duties Act, which will be incorporated into a Variable Capital Companies (Miscellaneous Amendments) Bill 2019.
Date: 15 February 2019; Type: Consultation Paper; Source: Ministry of Finance

IRAS e-Tax Guide on Income Tax: Tax Treatment of Public-Private Partnership Arrangements (Third Edition)

This e-Tax guide explains the approach the Comptroller of Income Tax (CIT) takes to establish the scope of services carried on by the private sector operator involved in a Public Private Partnership (PPP) project and provides details on the income tax treatment that would apply.
Date: 22 February 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

Revision in GST Import Relief for Travellers with effect from 19 February 2019

The Goods and Services Tax (GST) import relief for travelers will be tightened for travelers arriving in Singapore, starting from 12.00am on 19 February 2019.
Date: 18 February 2019; Type: Press Release; Source: Customs Department

IRAS e-Tax Guide on Tax Deductibility of General Insurers' Reserves against Incurred But Not Reported Claims (IBNR Claims) (Third Edition)

The purpose of this Practice Note is to set out the guidelines in determining acceptable methodologies for estimating the liability which can be used to quantify the reserves to be allowed a deduction for tax purposes. It is also to set out the substitute methods which may be used to derive an indication of what could be a reasonable level of reser ...
Date: 14 February 2019; Type: Guide; Source: Inland Revenue Authority of Singapore

Filing Responsibilities of Precedent Partners

The precedent partner is the first named in the partnership agreement. If there is no partnership agreement, the precedent partner is a partner who is agreed upon and appointed by the other partners. All precedent partners must file Form P.
Date: 05 February 2019; Type: Guideline; Source: Inland Revenue Authority of Singapore

GST on Imported Services

To level the GST treatment for all services consumed in Singapore, the reverse charge regime for Business-to-Business supplies of imported services and the overseas vendor registration regime for Business-to-Consumer supplies of imported digital services will be implemented from 1 Jan 2020 to tax imported services.
Date: 04 February 2019; Type: Guideline; Source: Inland Revenue Authority of Singapore

INDUSTRY UPDATES

Tax Academy offers Online Courses for BIR, BOC Employees

MANILA, Jul 18 (PNA) - The Philippine Tax Academy (PTA) has completed the development of 14 competency-based mandatory online studies required for new hires at the Bureau of Customs (BOC) as well as refresher courses for existing BOC employees, the Department of Finance (DOF) announced in a statement on Thursday.

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INDUSTRY UPDATES

PRRD to only face PH Court

MANILA, Jul 17 (PNA) - President Rodrigo Duterte has no intention to face the international tribunal stressing that he would only answer to the Philippine courts.

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INDUSTRY UPDATES

Court cautions Najib against posting Statements on his Trial

KUALA LUMPUR, Jul 18 (Bernama) - The High Court here today cautioned Datuk Seri Najib Tun Razak against posting any more statements in social media pertaining to his SRC trial or risk being cited for contempt of court.

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INDUSTRY UPDATES

Bank Muamalat: 'Court did not find us Guilty of Union-Busting'

KUALA LUMPUR, Jul 18 (Bernama) - Bank Muamalat Malaysia Bhd today said it was never found guilty of union-busting or had breached any law.

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INDUSTRY UPDATES

Labour Ministry opens Automation Center

BANGKOK, Jul 17 (NNT) - On efforts to push the Thai industrial sector into the 4.0 era, human resources must be capable of operating technology and automated systems, especially in the Eastern Economic Corridor (EEC) development project. To achieve this goal, the Ministry of Labour has established a human resources development center on automation and robots at the Institute for Skills Development 3, located in Chonburi.

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INDUSTRY UPDATES

Guidebook on Parliamentary Constituencies launched

KUALA LUMPUR, Jul 17 (Bernama) - Dewan Rakyat Speaker Datuk Mohamad Ariff Md Yusof today launched Wakil Kita di Parlimen, a 228-page guidebook containing relevant information on all the 222 parliamentary constituencies.

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INDUSTRY UPDATES

Students among Plaintiffs in Lawsuit over Sungai Kim Kim Pollution

JOHOR BAHRU, Jul 17 (Bernama) - Thirty-four students are among 171 individuals who are suing the Johor state government, Menteri Besar Datuk Osman Sapian and 10 others over the pollution in Sungai Kim Kim near Pasir Gudang last March.

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INDUSTRY UPDATES

Mandalay Region Hluttaw approves New High Court Judge

Mandalay Region Hluttaw was unanimously appointed a new regional high court judge on the second day of the second session of the hluttaw after being nominated by the regional chief minister.

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INDUSTRY UPDATES

DOJ forms Special Team to probe Kidapawan Broadcaster's Slay

MANILA, Jul 12 (PNA) - Department of Justice (DOJ) Secretary Menardo Guevarra on Friday said he has ordered a special investigation team to look into the killing last Wednesday of radio commentator Eduardo Dizon who was gunned down on the way home in Kidapawan City, Cotabato.

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INDUSTRY UPDATES

New BSP Deputy Governor sworn in

MANILA, Jul 12 (PNA) - Francisco G. Dakila Jr. received his oath of office as Deputy Governor for Monetary and Economics Sector (MES) in ceremonies administered by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday.

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INDUSTRY UPDATES

Chief Justice heads Penang Honours List

GEORGE TOWN, Jul 12 (Bernama) - Chief Justice Datuk Tengku Maimun Tuan Mat heads the list of 877 recipients of state honours and honorary medals in conjunction with the 81st birthday of the Yang Dipertua Negeri of Penang Tun Abdul Rahman Abbas.

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INDUSTRY UPDATES

Prosecution failed to serve Summons on Shahrizat's Children, Court sets new Mention Date

KUALA LUMPUR, Jul 12 (Bernama) - The Sessions Court here today set Aug 5 for mention of a lawsuit filed by the Companies Commission of Malaysia (CCM) against two children of former Women, Family and Community Development Minister Tan Sri Shahrizat Abdul Jalil in connection with several offences allegedly committed by their company.

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INDUSTRY UPDATES

Free Legal Service to be provided for the Poor

Legal aid groups will provide free legal services to poor people and those in need of legal assistance across the country in an effort to support the rule of law and restore public trust in the judiciary.

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INDUSTRY UPDATES

Bill to increase Sabah State Seats to be tabled on July 17

KOTA KINABALU, Jul 11 (Bernama) - Sabah Chief Minister Datuk Seri Mohd Shafie Apdal is confident the Bill for the additional 13 seats, to increase the number of state seats from 60 to 73, will be approved when it is tabled in Parliament on July 17.

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INDUSTRY UPDATES

SolGen asks SC to dismiss Writ of Kalikasan Suit on WPS

MANILA, Jul 9 (PNA) - Solicitor General Jose Calida on Tuesday asked the Supreme Court (SC) to dismiss the petition filed against government agencies, which seeks unspecified action on the disputed areas in the West Philippine Sea.

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INDUSTRY UPDATES

IRB records 486,360 Cases of Voluntary Tax Declaration

KUALA LUMPUR, Jul 8 (Bernama) - The Inland Revenue Board of Malaysia (IRB) has recorded 486,360 cases of voluntary tax declaration under the special voluntary declaration programme (PKPS) as of June 23.

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INDUSTRY UPDATES

Sugar Tax: SME Traders can file Postponement Appeal

PARIT BUNTAR, Jul 7 (Bernama) - Small and Medium Enterprise (SME) traders affected by the sugar tax on sweetened drinks which came into effect this month, can file a postponement appeal to the relevant authorities.

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INDUSTRY UPDATES

Sarawak Government has not Officially responded on the RM1 Loan Offer - MOF

KUALA LUMPUR, Jul 6 (Bernama) - The Sarawak state government has yet to provide any official feedback to the Federal government on the proposed loan offer, amounting to RM1 billion, which will be allocated for repairs of dilapidated schools in the state.

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