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Tax news alert
- Transfer pricing alert - Singapore signs Multilateral Competent Authority Agreement on Exchange of Country-by-Country Reports
This alert highlights the implications for Singapore-headquartered multinational enterprises, given Singapore’s signing of the Multilateral Competent Authority Agreement on Exchange of Country-by-Country Reports.
- Tax update - Liberalisation of tax deduction for payments under Cost Sharing Agreements
Good news on the modification and liberalisation of the Budget 2017 proposal regarding tax deduction for payments under a Cost Sharing Agreement.
- Tax alert - Singapore signs the Common Reporting Standard Multilateral Competent Authority Agreement
Singapore signs the Multilateral Competent Authority Agreement for the Automatic Exchange of Financial Account Information under the Common Reporting Standard.
- Tax alert - Singapore signs the BEPS Multilateral Instrument
Key MLI provisions adopted by Singapore that will bring about changes to existing DTAs, and the potential resulting impact on multinational enterprises and businesses in Singapore.
- Mobility tax alert - Changes to qualifying conditions for tax concession under the Not Ordinarily Resident (NOR) scheme
This alert provides updated qualifying criteria for NOR taxpayers claiming concessional tax treatment for employer contributions made to non-mandatory pension fund under the NOR scheme.
- Transfer pricing alert - IRAS and OECD release additional guidance on Country-by-Country Reporting
This alert highlights the additional guidance on Country-by-Country Reporting provided by the Inland Revenue Authority of Singapore and the Organisation for Economic Co-operation and Development.
- Tax alert - Singapore Variable Capital Company
On 23 March 2017, the Monetary Authority of Singapore (MAS) issued a consultation paper on the proposed framework for Singapore Variable Capital Companies (S-VACC) and a draft S-VACC Act.
- Tax alert - Introduction of inward re-domiciliation regime in Singapore
A summary of the key features of the re-domiciliation regime under which foreign corporate entities will be allowed to transfer their registration to Singapore.
- Mobility tax alert - Singapore 2017 Budget key issues
This alert provides a summary of the key announcements in the Singapore Budget 2017 and measures in support of Singapore businesses.
- Tax alert - Budget 2017 - enhancements to global trader programme
The tax alert highlights the Budget 2017 proposed enhancements to the GTP incentive and the impact to existing and new companies awarded the GTP status.
- European fund tax reporting: an opportunity for fund managers in Asia-Pacific
European investors may be paying too much tax – this alert highlights the importance of fund registration and reporting for offshore funds.
- Transfer pricing alert - IRAS release of e-Tax guide: Transfer Pricing Guidelines (Fourth edition)
In light of changes to the Singapore Transfer Pricing Guidelines, how will Singapore taxpayers be impacted? Find out more from the tax alert.
- Tax update - Singapore and India sign new protocol to the DTA
This alert provides a summary of the key amendments in the 2016 Protocol and their implications for Singapore investors with respect to investments in India.
- Mobility tax alert - Frequent business travelers and assignees
Further clarification by the IRAS regarding tax reporting obligations affecting business travelers and assignees working in Singapore.
- Transfer pricing alert - IRAS announces acceptance of 2016 voluntary filing of Country-by-Country Reports for Singapore MNE groups
This alert highlights the recent announcement by IRAS that it will allow voluntary filings of Country-by-Country Reports for Singapore MNE groups for financial year (FY) 2016.
- Tax update - Final regulations on the standard for Automatic Exchange of Financial Account Information (AEOI) in tax matters gazetted
This alert highlights key points of the final regulations on the standard for AEOI in tax matters gazetted on 2 December 2016.
- Transfer pricing alert - Impact of a new related party transactions disclosure requirement from YA 2018
This alert provides details on some of the practical issues that taxpayers may face when completing the “Form for reporting of related party transactions”.
- Tax update - Reporting of related party transactions in the corporate income tax return from YA 2018
This alert provides details of the new requirement for companies to complete a “Form for reporting of related party transactions” with effect from YA 2018.
- Transfer pricing alert - Singapore releases e-Tax guide on Country-by-Country reporting for 2017
This alert highlights the key observations of the new e-Tax Guide on Country-by-Country Reporting in Singapore and discusses the implications for Singapore multinational enterprise groups.
- Resources sector tax alert – The new Income Tax (Concessionary Rate of Tax for Global Trading Companies) Regulations 2016
This alert highlights the key observations of Regulations 2016 and the impact to existing and new companies that are awarded the GTP status.
- Tax update - Asia region funds passport – the state of tax
This alert provides details of a multilaterally-agreed framework to facilitate the cross-border distribution of managed fund products across the Asia region.
- Tax update - AEOI in Singapore
This alert summarises key points of the public consultation on the proposed regulations on the standard for AEOI in tax matters.
- Tax update - Draft legislation introduced for the Business and Institution of a Public Character Partnership Scheme
This alert provides an overview of the features of the BIPS, the claiming process and the conditions for the tax deduction.
- Tax update - IRAS e-Tax Guide on the General Anti-avoidance Provision and its application
This alert provides an overview of the new e-Tax guide on the General Anti-avoidance Provision and its application.
- Business and international tax alert - Singapore commits to implement minimum standard under Base Erosion and Profit Shifting (BEPS) Action 5 : countering harmful tax practices
This alert provides details on the implications of the aforesaid announcement and the impact on Singapore taxpayers with respect to their incentives and rulings.
- Global tax alert - Singapore-France revised income tax treaty enters into force
This alert summarises the key provisions of the revised Singapore-France income tax treaty.
- Transfer pricing alert - Singapore to implement Country by Country reporting from 1 January 2017
Singapore announces that it will implement CbC reporting for financial years (FYs) beginning on or after 1 January 2017 for Singapore-headquartered MNEs. More insights here.
- International tax and transfer pricing alert - Singapore joins inclusive framework for implementing measures against Base Erosion and Profit Shifting (BEPS)
Find insights on implications of Singapore joining the inclusive framework for implementing measures against BEPS and her position on the four minimum standards of BEPS.
- Indirect Tax Alert - Revised GST guidelines on fringe benefits provided to employees
This alert discusses the revised input tax claims guidelines on fringe benefits provided to employees.
- Tax update - Protocol signed on 10 May 2016 to amend the 1982 India-Mauritius tax treaty: impact on Singapore
This alert discusses the impact on Singapore upon the ratification of the Protocol signed on 10 May 2016 to amend the 1982 India-Mauritius tax treaty.
- Tax update - Income tax implications arising from the adoption of FRS 115
Overview of IRAS’ proposed positions on the income tax implications arising from the adoption of FRS 115 in their public consultation paper issued in October 2015
- Transfer pricing alert - Implications of country-by-country (CbC) reporting on Singapore taxpayers
This alert provides details and comments on the implications of CbC reporting requirements on Singapore taxpayers.
- Tax update - Income Tax (Amendment) Act 2016
Summary of the key non-Budget tax changes in the Income Tax (Amendment) Act 2016.
- HR and tax alert – Tax reporting of frequent business travellers to Singapore
Clarification by the IRAS on the Singapore tax treatment of frequent business travellers (FBTs) to Singapore and the additional employer reporting required.
- Global Tax Alert - Singapore-Thailand revised income tax treaty and protocol enter into force
This Alert summarizes the key provisions of the Singapore-Thailand revised income tax treaty and the protocol.
- Tax update - Amendments to Economic Expansion Incentives (Relief from Income Tax) Act (EEIA)
The amendments are mainly to reflect the manner in which tax incentives are currently administered, introduce a sunset clause for incentives and repeal EEIA provisions which are no longer relevant.
- Tax update - Singapore ratifies the Convention on Mutual Administrative Assistance in Tax Matters
Singapore’s ability to combat cross-border tax evasion and avoidance has been enhanced with the ratification of the Convention on Mutual Administrative Assistance in Tax Matters.
- Global Tax Alert - Luxembourg-Singapore revised Income Tax Treaty and Protocol enter into force
This Alert summarizes the key provisions of the Luxembourg-Singapore revised Income Tax Treaty and the protocol.
- Tax update - Tax treatment of insurers’ gains derived from disposal of investments
This alert discusses the principles of the BBO case and sets out the approach that the CIT takes to determine the tax treatment of gains derived from the disposal of investments of insurers.
- Transfer pricing alert - IRAS release of e-Tax Guide: Transfer Pricing Guidelines (Third edition)
This alert provides further analyses on key changes that are introduced by the 2016 Singapore TP Guidelines as well as additional commentary on what is not included and some recent developments in the Singapore transfer pricing environment.
- Global tax alert - Singapore and Russia sign Protocol to amend income tax treaty
This Alert summarizes the key revisions under the Protocol signed by Singapore and Russia on 17 November 2015 to amend their existing tax treaty.
- Tax update: Extending and enhancing the Mergers and Acquisition scheme
This alert summarises the changes to the Mergers and Acquisition (M&A) scheme, transitional arrangements arising from the changes, and the relaxation of certain administrative requirements.
- Global tax alert: Singapore and Thailand sign revised income tax treaty
This Alert summarizes the key provisions outlined in the revised tax treaty signed by Singapore and Thailand on 11 June 2015.
- HR and tax alert: Simplified claim for rental expenses
This alert provides details on simplification of tax compliance for an individual who derives passive rental income from letting of a residential property in Singapore.
- Tax Alert: FRS 115 Revenue Recognition
This tax alert discusses the tax challenges companies should be aware of following the adoption of FRS 115 - the new revenue recognition standard.
- International tax alert: France and Singapore sign revised income tax treaty
This Alert summarizes the key provisions outlined in the revised tax treaty signed by France and Singapore on 15 January 2015.
- International tax alert: Singapore and Uruguay sign income tax treaty
On 15 January 2015, Singapore and Uruguay signed their first income tax treaty. This Alert summarizes the key provisions outlined in the Treaty.
- Singapore: New guidance on Transfer Pricing documentation
Read more about the key sections of the second edition of the transfer pricing guidelines released by the Inland Revenue Authority of Singapore.
- Tax Alert: Singapore and Indonesia to renegotiate tax treaty - December 2014
This alert provides details of the next steps regarding cooperation on tax matters as agreed between Singapore and Indonesia recently on 15 December 2014.
- Tax update - October 2014
Read about the tax deduction for qualifying statutory and regulatory expenses incurred by businesses in complying with various laws and regulations.
- Tax update - May 2014
IRAS e-Tax guide on characterisation of hybrid instruments for tax purposes, and the corresponding Singapore income tax consequences for the issuer and the investor.
- Tax update - May 2014
Recent changes made to withholding tax requirements on payments made to Singapore branches of non-resident companies, and payments for the use of movable property.
- Tax update - May 2014
Details and our observations of new and revised DTAs signed by Singapore with various countries previously which entered into force over the last 15 months.
- Tax Update – June 2013 (issue 2)
This tax alert deals with the four key steps announced in May 2013 to further strengthen Singapore’s exchange of information framework.
- Tax Update – June 2013 (issue 1)
This alert covers the administrative changes made to the corporate income tax objection and appeal process by the IRAS to expedite closure of tax issues.
- Tax Update – April 2013
Read about AQQ's anti avoidance case which fell within section 33 but AQQ nevertheless won its appeal as the Comptroller did not exercise his powers fairly and reasonably.
- Tax Update – March 2013
IRAS e-Tax guide explains rights-based approach for characterising payments for software, and for use of or right to use information and digitized goods.
- Singapore Tax News - October 2012
The alert provides a summary of three Singapore tax cases dealing with the deductibility of losses in different circumstances.
- Singapore Tax News - September 2012
This issue covers the draft Income Tax (Amendment) Bill, capital allowances for equipment placed with sub-contractors, and double taxation agreements (and Protocols) ratified this year.
This magazine provides you with hot topics and insights on a broad range of current and emerging tax issues, as well as practical tips for tax planning and tax risk management.