Insights

In the OECD’s latest announcement, the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting has released more details on the implementation of the two-pillar solution to address tax challenges arising from the digitalisation of the economy. The Two-Pillar Solution is aimed at ensuring multinational enterprises (MNEs) will be subject to a minimum tax rate of 15%, and will re-allocate profit of the largest and most profitable MNEs to countries worldwide.

In this piece, we highlight the new articles introduced in the updated Avoidance of the Double Tax Agreement (DTA) between Singapore and Indonesia. These updates will be effective from 1 January 2022.

This update focuses on GST on services provided remotely and the resulting compliance obligations and GST treatment. This is part of the extension of the Singapore regime for Goods and Services Tax and will take effect from 1 January 2023.

New transfer pricing guidelines have been published in Singapore, consolidating earlier guidance. Munjal Almoula of Grant Thornton Singapore looks at the amendments and updates, including a significant change which seems to indicate an increased focus by the Inland Revenue Authority on transfer pricing issues.

This update focuses on GST on low value goods and the resulting compliance obligations and GST treatment. This is part of the extension of the Singapore regime for Goods and Services Tax and will take effect from 1 January 2023.

On 10 August 2021, the Inland Revenue Authority of Singapore released an update to its transfer pricing e-Tax Guide. In this piece, we highlight significant changes in the updated guide and how it impacts your business.

The Inland Revenue Authority of Singapore (IRAS) has underlined how the GST treatment of media sales will change with effect from 1 January 2022. The changes are outlined in the e-Tax guide published on 11 June 2021, 'GST: Guide for Advertising Industry (Third Edition)'.

With “working from anywhere” becoming more commonplace, this two-part webinar series breaks down potential corporate and personal tax risks. From permanent establishments to where your employees need to pay tax, find out how you can mitigate the risk or limit their impact.

Find out more about the OECD’s statement on a two-pillar solution to address tax challenges arising from digitalisation of the economy

A handy guide of Singapore Tax facts, to keep you up to date of the tax rates and conditions.

This webinar breaks down what you need to know about Missing Trader Fraud - from the Knowledge Principle, what IRAS expects of you with regards to your input tax claims, and how to protect yourself.

David Sandison, Grant Thornton Singapore's Head of Tax, examines the influence of real estate on the economy and explores ways to bring in additional tax revenues and provide price stability.

This webinar will help you understand transfer pricing concepts introduced by the IRAS whilst also explaining its impact from corporate tax, personal income tax and GST perspectives.

The Inland Revenue Authority of Singapore has updated its circular “Income Tax Treatment of Foreign Exchange Gains or Losses for Businesses (Fourth Edition)” on 31 March 2021. The March 2021 update has added a definition of translation differences and a new annex on frequently asked questions about the designated bank account for designated revenue purposes and the application of the de-minimis limit.

Munjal Almoula of Grant Thornton Singapore discusses the evolving approach of tax authorities worldwide to transfer pricing policies and audits, and considers the potential implications for the Singapore transfer pricing regime.

This webinar is a refresher and update on the tax aspects of M&A from the purchaser’s point of view, from the due diligence process through to post-deal restructuring issues that may be necessary to absorb the new acquisition.