Tax Hub

Extension of the GST regime - taxing remote services

Indirect Tax

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.

Jeremy O’Neill

| 7 min read | 27 Aug 2021

Singapore Transfer Pricing Regulations—Winds of Change

Transfer Pricing

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.

6 min read | 24 Aug 2021

Extension of the GST regime – taxing low value goods

Indirect Tax

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.

Jeremy O’Neill

| 7 min read | 24 Aug 2021

Update on IRAS e-Tax Guide Transfer Pricing Guidelines (Sixth Edition)

Transfer Pricing

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.

My Hanh Tran

| 6 min read | 12 Aug 2021

Update on GST treatment for supply of media sales

Indirect Tax

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)'.

Jeremy O’Neill

| 4 min read | 06 Aug 2021

Webinar: Working internationally – are there any tax pitfalls?

Webinar

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.

29 Jul 2021

OECD's two-pillar solution to address tax challenges arising from digitalisation of the economy

Tax

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

6 min read | 07 Jul 2021

Tax facts 2021

Tax

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

7 min read | 14 Jun 2021

Webinar: Avoid getting tangled in Missing Trader Fraud

Webinar

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.

09 Jun 2021

Time to end the love affair with real estate. Here are some ideas

Tax

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.

5 min read | 06 May 2021

Webinar: Demystifying Transfer Pricing

Webinar

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.

29 Apr 2021

Insights on the Income Tax Treatment of Foreign Exchange Gains or Losses for Businesses (Fourth Edition)

Tax

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.

Eng Min Lor

| 5 min read | 28 Apr 2021

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