Insights
GST return needs to be reviewed by Accredited Tax Practitioner/Advisor with immediate effect.
In its latest annual report for the financial year ended 31 March 2025, the Inland Revenue Authority of Singapore (IRAS) shared some telling numbers. On average, IRAS recovered $71,700 per
New IRAS concession: Claiming GST on invoices issued to employees by OVR suppliers – What Businesses Need to Know
From 1 July 2025, GST-registered businesses in Singapore will benefit from a new administrative concession introduced by the IRAS. This change allows companies to claim input tax….
Navigating the New Landscape of Related Party Financial Transactions: A GST and Transfer Pricing Perspective
Effective 1 January 2025, significant changes to Singapore’s transfer pricing and goods and services tax (GST) treatment of related party financial transactions will take effect….
Receiving Advance Payment from New Customer and the 60-Day Rule for Export of Goods
In international trade, compliance with tax regulations is critical for businesses to maintain smooth operations and avoid financial penalties…..
Understanding the Shift: Corporate Tax Audit Recoveries Surpass GST in Singapore
Historically, tax and penalties recovered per GST audit case were among the highest across all tax types, highlighting the challenges of GST compliance….
Doubling of GST error threshold from S$1,500 to S$3,000 – UPDATE!
From 1 July 2025, GST-registered businesses in Singapore will benefit from a new administrative concession introduced by the IRAS….