singapore - Tax & Revenue - Notices & Directives

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

Commencement of Charges for Networked Trade Platform Accounts from 1st January 2019 and Introduction of NTP-Lite Account

This is to notify all Networked Trade Platform (NTP) Account holders and Value-Added Service providers that the NTP Account Charges will commence in January 2019 and that charging for an NTP Account will commence on 1st January 2019. Notice No. 23/2018
Date: 17 December 2018; Type: Circular; Source: Customs Department

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

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

IRAS e-Tax Guide on Tax Treatment Arising from Adoption of FRS 115 or SFRS(I) 15 - Revenue from Contracts with Customers (Second Edition)

This e-Tax guide provides guidance on the tax treatment for entities adopting Financial Reporting Standard (“FRS”) 115 or Singapore Financial Reporting Standards (International) (“SFRS(I) 15”).
Date: 16 November 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

Overview of Form C-S/ C

All companies carrying on a trade or business in Singapore need to report their income to IRAS annually by filing their Income Tax Return (Form C-S/ C).
Date: 12 November 2018; Type: Practice Note; Source: Inland Revenue Authority of Singapore

Corporate Tax Filing Season 2018

All companies with or without any business activities or those incurring losses should file their Corporate Income Tax Returns by 30 Nov 2018, or 15 Dec 2018 if they file online. Compulsory e-Filing of Corporate Income Tax returns starts this year for companies with revenue of more than $10 million in Year of Assessment 2017.
Date: 07 November 2018; Type: Circular; Source: Inland Revenue Authority of Singapore

GST: Guide on Exports (Fifth Edition)

This e-Tax Guide provides details on the various circumstances and documentary requirements for which a supply of goods can be zero-rated. It aims to provide general guidance to assist GST-registered businesses to comply with the zero-rating provisions on exports of goods.
Date: 01 November 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: GST and the Gold Jewellery Industry

This e-Tax guide explains the GST principles applicable to the gold jewellery industry and to illustrate with examples how GST should be accounted for some of the common scenarios applicable to the gold jewellery industry.
Date: 01 November 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

GST: Guide on Hand-Carried Exports Scheme (Second Edition)

This guide sets out the types of documentary evidence required for goods hand-carried out of Singapore via Changi International Airport, to be zero-rated for GST purposes.
Date: 01 November 2018; Type: Guide; Source: Inland Revenue Authority of Singapore

2019 Property Tax Bills

This is to notify the property owners that they will receive their Property Tax bill for the year 2019 by 31 Dec 2018.
Date: 22 October 2018; Type: Guideline; Source: Inland Revenue Authority of Singapore

Corporate Tax Filing Season 2018

This is to provide information on corporate income tax filing in order to better understand the companies' tax filing obligations. The due date for submitting the Corporate Income Tax Return (Form C-S/ C) for Year of Assessment 2018 is 15th Dec 2018 for the e-Filing and 30th Nov 2018 for the Paper Filing.
Date: 22 October 2018; Type: Circular; Source: Inland Revenue Authority of Singapore

INDUSTRY UPDATES

Judge unconvinced by Rapist’s Excuse

A supreme Court judge labelled a 72-year-old man’s excuse that police threats were the reason he confessed to raping a minor in Kampong Chhnang province in 2013 as “unreasonable”.

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Customs Department offers Online Payment Services

BANGKOK, Jan 16 (NNT) - Businesses needing to make payments to the Customs Department can now do so through online banking.

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January 21 Special Non-Working Day in ARMM, Two Other Cities

MANILA, Jan 17 (PNA) - Malacañang has declared Jan. 21, 2019 (Monday), a special non-working day in the Autonomous Region in Muslim Mindanao (ARMM), Isabela City, and Cotabato City for the plebiscite of the Bangsamoro Organic Law (BOL).

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White Paper on Defence to be tabled in Parliament this Year

KOTA KINABALU, Jan 17 (BERNAMA) - The Ministry of Defence will table a White Paper on Defence which will detail the tasks and roles of the Malaysian Armed Forces, said Defence Deputy Minister Senator Liew Chin Tong.

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Chief Justice calls for Government Audit on Rights of Indigenous People

KOTA KINABALU, Jan 17 (Bernama) - Chief Justice Tan Sri Richard Malanjum today proposed that the government conduct an audit on the rights of the indigenous people to ensure that they are in line with the United Nations declaration.

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Rape victim testifies that Sex with Convicted Man was ‘Consensual’

A man who was sentenced to 10 years’ imprisonment for a 2007 rape asked the Appeal Court on Tuesday to release him on bail as he was suffering from mental illness.

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PRRD appoints new Sandiganbayan Associate Justice

MANILA, Jan 16 (PNA) - President Rodrigo R. Duterte has appointed former Makati Regional Trial Court (RTC) judge Ronald Moreno as Associate Justice of the Sandiganbayan.

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Foreign Ministry continues Ban on UN Special Rapporteur Lee

THE government said it would not rescind its ban on UN Special Rapporteur Yanghee Lee from entering Myanmar, despite her recent request, a Foreign Ministry official said Monday.

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INDUSTRY UPDATES

Pay the Minimum Wage or face Legal Action, Employers told

Employers in Laos will be subject to legal action if authorities discover they are failing to pay their workers the minimum wage.

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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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