Insights

Withholding tax is generally a final tax where the income in question is not derived from the provision of services.

Property tax is a tax levied on property ownership. The annual tax payable is a percentage of the annual value of the property, which is the gross amount for which the property is expected to be let out in that year.

Under the modified territorial basis of taxation, companies in Singapore are subject to tax on income accruing in or derived from Singapore and foreign income received or deemed received in Singapore from outside Singapore.

Individuals (resident and non-resident), are only liable to income tax in respect of income accruing in or derived from Singapore. The tax year is the calendar year.

Transfer pricing regulations by the Organisation for Economic Cooperation and Development (OECD) and Singapore have specific provisions to talk about intercompany service transactions. This article delves into what Singapore taxpayers need to know about service transactions under these regulations and highlights typical mistakes businesses may make.

In this webinar, learn about the key trends, strategies and best practices shaping the future of finance. Our expert speakers will share their knowledge and experience, offering practical advice on how to navigate these challenges and position your organisation for success.

Grant Thornton leaders from around the world will provide an update on the status of the OECD's Pillar 2 Global Minimum Tax project. Our experts will discuss recent developments from the OECD and local taxing authorities and provide meaningful insights to organisations grappling with this new regime.

In this insightful webinar, we delved into the essentials of consolidation focusing on the intricacies of the Foreign Currency Translation and its impact. Our experts also provided valuable insights into the latest technological advancements that can simplify complex consolidation tasks and ensure compliance with regulatory requirements.

The release of the 7th edition of the Singapore Transfer Pricing Guidelines on 14 June 2024 signifies a substantial advancement in the efforts of the Inland Revenue Authority of Singapore (IRAS) to enhance clarity and rigour in the Singapore transfer pricing (TP) landscape. This edition introduces both minor and major updates across nine sections of the Guidelines, reflecting an evolving and more sophisticated approach to TP analysis and compliance with the arm’s length principle.

If you are planning on doing business in Singapore, this guide provides an overview of Singapore's investment environment. Learn more about common issues companies might face when expanding into Singapore and get insights on navigating the country's legal, accounting and tax landscape.

In this 1-hour webinar playback, our experts shared insights on model monitoring and validation methodologies, best practices, and key challenges, all aimed at providing you with actionable strategies to adeptly navigate through the complexities.

On 2 May 2024, the long-awaited and highly anticipated interoperability guidance has been jointly issued by the IFRS Foundation and European Financial Reporting Advisory Group (EFRAG).

The last decade has witnessed a growing trend for tax administrations leveraging technology and introducing e-invoicing as a means to streamline tax administration and tackle tax fraud and evasion. In Singapore, the Inland Revenue Authority of Singapore (IRAS) has just announced the the mandatory adoption of e-invoicing under their InvoiceNow initiative for newly GST-registered companies with the possibility of it being rolled out to all other GST-registered businesses.

Transfer pricing documentation (TPD) is a crucial aspect of tax compliance for businesses in Singapore. With the Inland Revenue Authority of Singapore (IRAS) placing increased emphasis on transfer pricing practices, it is essential for taxpayers to understand the key aspects of TPD requirements.

In this 1-hour webinar playback, our Employer Solutions team aims to bring light to the possibly confusing topic of equity-based remuneration in Singapore, addressing the common challenges and misconceptions around LTIP reporting

Artificial intelligence (“AI”) as a general-purpose technology, offers a wide range of opportunities across various fields. According to the IBM Global AI Adoption Index 2023, 42% of organisations surveyed have AI actively in use in their businesses and an additional 40% are currently exploring or experimenting with AI but have not deployed their models. Amid the promising capabilities of AI, organisations face a looming threat: the misuse of AI by fraudsters. The ease of access and availability of sophisticated AI models on an open-source basis exacerbates this threat.