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DBS and IRAS Simplify Tax Payments with eGIRO

October 18, 2024

DBS and IRAS Partner to Streamline GIRO Applications DBS has joined forces with the Inland Revenue Authority of Singapore (IRAS) to introduce eGIRO, a new online service that simplifies the GIRO application process for both individual and corporate taxpayers. By eliminating the need for manual paperwork, eGIRO significantly reduces processing time from weeks to minutes. […]

Singapore and Kenya signed a new Double Taxation Agreement

October 04, 2024

On 23 September, 2024, Singapore and Kenya signed a new Double Taxation Agreement (DTA) to replace the previous one from June 12, 2018. The new DTA aims to eliminate double taxation and prevent tax evasion and avoidance between the two countries.” The DTA was signed in New York by Singapore’s Foreign Minister Dr. Vivian Balakrishnan […]

IRAS Annual Report: Our Contributions to Singapore’s Success

September 20, 2024

Singapore’s robust economic growth was fueled by a total tax revenue of $80.3 billion. To support businesses and workers during this period, the government disbursed $2.3 billion in enterprise grants. Additionally, Singapore has been investing in digital tax solutions to streamline processes and enhance efficiency for businesses. The Inland Revenue Authority of Singapore (IRAS) […]

IVAS Partners with Global Experts on Intangible Asset Valuation

September 06, 2024

The IVAS-IVSC Business Valuation Conference 2024, themed ‘Intangible Impact,’ brought together over 1,000 participants from around the world. Held in Singapore on 28 August, the conference featured 21 expert speakers and panelists discussing the importance of intangible assets in today’s economy. The event was a joint initiative of the Institute of Valuers and Appraisers […]

Mas bank tech partners unite against quantum threats

MAS, Banks, and Tech Partners Unite Against Quantum Threats

August 23, 2024

Singapore, August 14, 2024 – Recognizing the growing threat of quantum computing to cybersecurity, Singapore’s MAS, DBS, HSBC, OCBC, UOB, SPTel, and SpeQtral have joined forces to investigate the potential of Quantum Key Distribution (QKD) to safeguard critical financial transactions. The rapid development of quantum computing technology is posing potential threats to cryptography and encryption […]

Master Business Valuation at the IVAS-IVSC Conference (28 Aug)

August 09, 2024

Co-organized by the Institute of Valuers and Appraisers, Singapore (IVAS) and the International Valuation Standards Council (IVSC), the IVAS-IVSC Business Valuation Conference 2024 provides a forum for industry professionals to gain insights into the rapidly expanding sector. The conference brings together thought leaders, policymakers, senior business executives, legal experts, and fellow valuation professionals for networking […]

ACRA Chief Executive Outlines Path to Better Corporate Governance

July 26, 2024

In her opening address at the 9th CSIS Corporate Service Providers Conference on July 10, 2024, Mrs. Chia-Tern Huey Min, who recently assumed the role of Chief Executive at ACRA, likely focused on key areas of collaboration between ACRA and the CSP sector. The speech might have addressed ACRA initiatives relevant to corporate service providers, […]

Climate Reporting in FY 2025: Singapore Takes Action

July 12, 2024

A new study by the Accounting and Corporate Regulatory Authority (ACRA) and the Sustainable and Green Finance Institute (SGFIN) at the National University of Singapore reveals positive progress in climate reporting by large, listed companies in Singapore. Notably, 78% of these companies belong to carbon-intensive sectors. The study further identifies strategies to bolster climate-related disclosures, […]

Company Tax Filings During Liquidation Proceedings

June 28, 2024

Companies under Liquidation During liquidation, companies must fulfill specific tax obligations before the process can be finalized. Duties of Liquidators When a company undergoes voluntary or compulsory liquidation, a court-appointed or company-designated liquidator assumes responsibility for the company’s affairs. This includes fulfilling specific duties outlined in the Income Tax Act of 1947. Section 59(1) of […]