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tax news
January 2021

11 Jan
An Alternative to the OECD's Pillar 1 Blueprint
08 Jan
An Analysis of EU’s Tax Policy Developments in 2020
08 Jan
Not-for-Profit Organisations GST Registration Myths Debunked
08 Jan
Revised GST e-Tax Guide on “Property Owners and Property Holding Companies” to Update that the Use of Security Deposit to Set-off Repair Cost is Treated as GST Inclusive
06 Jan
Managing the Aftermath of a Tax Audit or Investigation
05 Jan
Overview of the International Compliance Assurance Programme
04 Jan
Amendments Made by the MLI to Singapore's DTA with Albania Took Effect on 1 January 2021
04 Jan
Amendments Made by the MLI to Singapore's DTA with Egypt Took Effect on 1 January 2021
04 Jan
Indicative Margin for Related Party Loan Not Exceeding S$15 million Is 2.75% for Year 2021
04 Jan
New Income Tax Advance Ruling on Related Party for Singapore Transfer Pricing Purposes
December 2020

31 Dec
Updated IRAS’ Guidance on Government Cash Grant (Announced in Fortitude Budget)
29 Dec
Revised e-Tax Guide on “Property Tax Rebate (PTR) for Non-Residential Properties in 2020” To Provide Information on Changes Made to the PTR Regulations and Application Deadline for Disputes to be Heard by a Valuation Review Panel
29 Dec
Updated IRAS' COVID-19 Guidance on the Extension of Period Employees May Work Remotely Without Being Considered as Exercising Employment in Singapore and the Qualifying Conditions
28 Dec
Amendments Made by the MLI to Singapore's DTA with Indonesia Took Effect on 26 December 2020
22 Dec
Singapore High Court Upheld the Income Tax Board of Review’s Decision to Disallow R&D Deductions for Payments Made Under a Cost Sharing Agreement Under Section 14D of the Income Tax Act
22 Dec
An Overview of OECD’s Guidance on Transfer Pricing Implications of the COVID-19 Pandemic
18 Dec
OECD Releases Fourth Peer Review Report on BEPS Action 5 on the Exchange of Information of Tax Rulings
18 Dec
Panama and United States Now Have Automatic Exchange of Country-by-Country (CBC) Report Relationship with Singapore
18 Dec
New IRAS’ e-Learning Video on Tax Deductibility of Expenses
18 Dec
OECD Focuses on Risk Allocation in COVID-Related Guidance
17 Dec
IRAS’ COVID-19 Guidance on Rental Relief Framework
17 Dec
IRAS’ Latest GST Bulletin on Accounting Software that Support GST Filing, GST Errors Correction and Other Information
17 Dec
OECD Publishes Jurisdiction-specific Information on the Implementation of the “Hard-to-value Intangibles” Approach
16 Dec
Videos: Pillars 1 & 2: Are We Close to a Deal?
11 Dec
Managing Transfer Pricing and Loss Allocation in the COVID-19 Era
10 Dec
Revised e-Tax Guide on “Certainty of Non-taxation of Companies’ Gains on Disposal of Equity Investments” to Reflect Changes as Announced in Budget 2020
10 Dec
Updates on the Tax Treatment for the Disposal of Non-Listed Shares in an Investee Company Under Section 13Z as Announced in Budget 2020
10 Dec
ATO Finalises Guidance on Interest-free Loans
10 Dec
Companies Receiving Foreign Worker Levy (FWL) Rebate Would Only Be Allowed Tax Deduction on the Reduced FWL Incurred
09 Dec
What Direct Tax Teams Can Learn from Indirect Tax Innovation
09 Dec
Overview of the International Compliance Assurance Programme
07 Dec
The Taxman Wants to Interview You ― What Do You Say?
07 Dec
Deductibility of Unilateral Digital Taxes Imposed by Other Jurisdictions Will Be Based on Existing Provisions of the Singapore Income Tax Act
07 Dec
Updated IRAS’ COVID-19 Guidance to Include Tax Treatment of the Jobs Growth Incentive and Construction Restart Booster
07 Dec
IRS’s Major Victory in the Coca-Cola Case and Its Future Implications for Transfer Pricing Cases
03 Dec
Revised e-Tax Guide on “Carry-back Relief System” to Incorporate Changes to the Administrative Requirements in Making the Election for Carry-back Relief
03 Dec
Revised e-Tax Guide on “Enhanced Carry-back Relief System” to Update Administrative Procedures for Companies Electing Carry-back of Actual Qualifying Deductions for YA 2020
01 Dec
New Income Tax Advance Ruling on Withholding Tax on Payments Made Pursuant to License Agreement
01 Dec
OECD’s Pillar Two Blueprint: A Singapore Perspective
01 Dec
New Income Tax Advance Ruling on Withholding Tax on Art Performance Fees
01 Dec
OECD Releases Updated Peer Review Results of Preferential Tax Regimes Including Mauritius and Switzerland
01 Dec
New Income Tax Advance Ruling on Characterisation of Hybrid Instrument and Related Issues
November 2020

30 Nov
Tax Accounting Considerations for Financial Reporting
30 Nov
Robo-inspectors, Data-pots, Tax-savvy Virtual Assistants and the Increasing Democratisation of Tax – Welcome to Tax in the 2020s
30 Nov
A Perspective on the BEPS 2.0 Blueprints and its Impact on Businesses
30 Nov
Summary of Changes Under the Revised Risk-based Capital Framework for the Taxation of Insurers
26 Nov
OECD’s 2020 Reviews Indicate Progress Continues in Countering Harmful Tax Practices
25 Nov
Updated FAQ to Clarify that Dormant Companies Can Make Claims for Donations by e-Filing Their Corporate Income Tax Return Using the “File Form C-S/ Form C-S (Lite)” e-Service
24 Nov
OECD Releases 2019 Mutual Agreement Procedure Statistics and 2019 Mutual Agreement Procedure Awards
23 Nov
The Taxman is at your Door ― What Can You Do?
23 Nov
A Perspective on UN and OECD’s Proposals for Taxing the Digitalised Economy
20 Nov
Revised e-Tax Guide on Simplified Record Keeping Requirements for Small Businesses to Update the Increased Revenue Threshold and Examples to Apply the Revised Qualifying Conditions
20 Nov
IRAS’ Digital Solutions (API/ EVN) for Filing of Corporate Income Tax Returns (Form C-S/ C)
19 Nov
ATO’s Updated COVID-19 Guidance on Permanent Establishments
18 Nov
Updated Section 45 Offline Data-Entry (ODE) Application and Import Template Available for Download
16 Nov
UK Government Issues Details of New Plastics Packaging Tax Effective 1 April 2022
13 Nov
Considerations of OECD’s Blueprint on Pillar One and Pillar Two for Singapore-based Taxpayers
12 Nov
Revised e-Tax Guide on Writing-Down Allowance on Payment for Indefeasible Right of Use (IRU) to Clarify on the Tax Treatment for Purchase of IRU on Backhaul Portion and the Necessary Adjustments for Apportionment of the IRU Payment
11 Nov
Extension of Corporate Income Tax Return (Form C-S/C) Filing Deadline to 15 Jan 2021 on a Case-by-Case Basis
09 Nov
A Perspective on Why Loss Carryback Is the Way to Safely Kickstart Economies
09 Nov
New GST e-Tax Guide on Transfer Pricing Adjustments
09 Nov
Revised GST e-Tax Guide for the Aerospace Industry to Clarify on the Issuance of Certificate of Conformity
07 Nov
US Tax Policy Implications of a Joe Biden Presidency
04 Nov
ATO’s Compliance Approach to the Arm's Length Debt Test
02 Nov
OECD Releases Economic Impact Analysis of BEPS 2.0 Project Proposals
02 Nov
New Income Tax Advance Ruling on Whether the Use of Unremitted Foreign Sourced Income Towards Capital Reduction Constitutes Deemed Remittance Into Singapore
October 2020

30 Oct
India’s High Court Ruled New India-Singapore Treaty Provision Repeals and Replaces Earlier Provision
30 Oct
Amendments Made by the MLI to Singapore's DTA with Oman Took Effect on 1 Nov 2020
30 Oct
OECD Releases New Methodology for BEPS Action 13 Country-by-Country Reporting Peer Reviews
30 Oct
Non-Budget Amendments from the Singapore Income Tax Amendment Bill 2020
28 Oct
Updated Condition (C) for the Permanent Establishment Concession under the COVID-19 Tax Guidance
28 Oct
How Singapore Stacks Up to Changes in Hong Kong’s Shipping Regime
27 Oct
Revised e-Tax Guide on Tax Treatment Arising From Adoption of FRS 116 or SFRS (International) 16 – Leases to Clarify “Effective Rent Method” Election and Tax Treatment Where the Sublease Is Classified as a Finance Lease for Accounting Purposes
27 Oct
IRAS’ e-Learning Video on Taxability of Income
26 Oct
OECD Releases Third Batch of Stage 2 Peer Review Reports on Dispute Resolution (Including Singapore)
26 Oct
Entering Invoicing Details Into The Customer’s Platform And Self-billing Arrangement - A Cut From The Same Cloth
20 Oct
Barbados Added to EU’s List of Non-cooperative Jurisdictions for Tax Purposes
20 Oct
Overview of OECD's Report on "Taxing Virtual Currencies: An Overview of Tax Treatments and Emerging Tax Policy Issues"
19 Oct
Companies May Apply for a Certificate of Residence for One Advance Calendar Year From October to December of the Current Calendar Year
17 Oct
OECD Delays Target Date for Consensus Agreement Relating to Pillar One and Pillar Two
17 Oct
Highlights of OECD's Pillar One and Pillar Two Blueprints
15 Oct
Revised e-Tax Guide on GST Exemption of Investment Precious Metals with Updated List of Coins Issued
15 Oct
Podcast: A US’ Perspective on OECD’s Update on Pillars One and Two: Delays Ahead
14 Oct
Overview of MOF’s Summary of Responses to the Public Consultations on Draft Income Tax (Amendment) Bill 2020 and GST (Amendment) Bill 2020
12 Oct
Australia to Modify Corporate Tax Residency Definition
12 Oct
OECD’s Latest Tax Talk
12 Oct
OECD’s Blueprint for Pillar One
12 Oct
OECD’s Blueprint for Pillar Two
12 Oct
Revised Record Keeping Guidance for GST-registered Businesses in lieu of Customer-generated Tax Invoices
12 Oct
OECD’s Report on “Taxing Virtual Currencies: An Overview of Tax Treatments and Emerging Tax Policy Issues"
12 Oct
Upcoming Webinar on OECD’s Developments
12 Oct
Transfer Pricing Developments in Singapore 2020
12 Oct
Cover Statement by the Inclusive Framework on Blueprints for Pillar One and Pillar Two
12 Oct
Updates on COVID-19 Support Measures and Tax Guidance for Property Owners
12 Oct
Revised GST e-Tax Guide on Record Keeping Guidance for GST-registered Businesses in Lieu of Customer-generated Tax Invoices
12 Oct
ATO’s Guidance on Anti-abuse Rules in Australia's Tax Treaties
09 Oct
Clarification on the Forms of Security Tokens in Revised e-Tax Guide on the Income Tax Treatment of Digital Tokens
08 Oct
UN’s Draft on Carbon Tax and Its Interplay with Other Factors
07 Oct
ECOFIN Published Revised List of Non-Cooperative Jurisdictions for Tax Purposes – Cayman Islands Removed from List Following New Reforms
07 Oct
Australia Extends Significant Global Entity (SGE) Penalties to Subsidiary Entities
01 Oct
Amendments Made By the MLI to Singapore's DTA with Kazakhstan Took Effect on 1 Oct 2020
September 2020

30 Sep
European Commission’s Explanatory Notes on the New VAT e-Commerce Rules
30 Sep
Fighting 'Missing Trader' GST Fraud in Singapore
30 Sep
Vodafone Wins Indian Retroactive Tax Dispute
29 Sep
A View on How the Latest Enforcement Trends May Affect Taxpayers
28 Sep
The Fine Line Between Tax Planning and Avoidance in Singapore
25 Sep
Answering the Tax Riddles in Singapore’s Jobs Support Scheme
25 Sep
IRAS’ e-Learning Video on Corporate Tax Filing Obligations and Basis of Assessment
25 Sep
Common Errors Made by Section 45 Withholding Tax Payers
25 Sep
Basic Section 45 Withholding Tax Applicability Calculators
24 Sep
Compilation of Peer Review Reports on Country-by-Country Reporting
24 Sep
A Recap of Key COVID-19 Guidance on Singapore TP
21 Sep
Updated IRAS FAQs on Filing of Final FATCA Return by a Reporting SGFI That Is Liquidating/ Has Ceased to Meet the Definition of a Reporting SGFI (A.6)
21 Sep
Updated IRAS FATCA FAQs on Expiry of Transition Relief (B.5)
21 Sep
Revised IRAS Supplementary XML Schema User Guide for Preparing the FATCA Reporting Data File
18 Sep
An Illustration on How COVID-19 May Impact TP Analyses
17 Sep
IRAS’ Latest TaxBytes on New Digital Solution for Seamless Filing of Form C-S, Simpler Corporate Tax Filing with Form C-S (Lite), GST Refunds Via PayNow Corporate and More
17 Sep
IRAS’ Updates on the Application of Section 13A(11) When a Ship Ceases to Be a Singapore Ship (a Ship Registered With the Singapore Registry of Ships)
17 Sep
Tax Relief for Stranded Individuals in Singapore
15 Sep
Views on IRAS’ COVID-19 TP Guidance
15 Sep
A Viewpoint on EU’s Anti-tax-avoidance Directive (ATAD)
14 Sep
Japan’s National Tax Agency Increases Focus on Local File
14 Sep
Updated IRAS’ Guidance on Government Cash Grant (announced in Fortitude Budget)
11 Sep
HMRC’s Updated Guidance on General Anti-abuse Rule (GAAR)
11 Sep
The Apple Case – Can You Sell What You Don’t Own?
07 Sep
Updates on COVID-19 Support Measures and Tax Guidance for Property Owners
07 Sep
IRAS’ COVID-19 Tax Guidance on Transfer Pricing
04 Sep
New Peer Review Reports and Tax Transparency Ratings Released for Nine Jurisdictions (Including China and Korea)
02 Sep
HMRC's VAT Guidance on Early Termination Fees and Compensation Payments
02 Sep
IRAS’ Updated Tax Treaty Calculator for Personal Services Rendered by Employees
02 Sep
US Releases Final Guidance on Base Erosion and Anti-abuse Tax (BEAT) Guidance
01 Sep
UN's Draft Proposal to Include Software Payments to the Definition of Royalties
01 Sep
Amendments made by the MLI to Singapore's DTA with Czech Republic took effect on 1 Sep 2020
01 Sep
IRAS’ COVID-19 GST Guidance
01 Sep
New Income Tax Advance Rulings on Characterisation of Hybrid Instrument and Issues Relating to a Foreign Limited Partnership
August 2020

28 Aug
New e-Tax Guide on Tax Framework for Variable Capital Companies
28 Aug
Reciprocal FATCA IGA Between Singapore and the US Will Enter Into Force on 1 January 2021
28 Aug
Updated IRAS CRS FAQs on Ascertaining Depository Account Holders (C.14) and Equity Interest Holder for a SGFI Trust (D.7)
28 Aug
Navigating Taxation on Imported Digital Services in ASEAN
27 Aug
New Zealand’s Inland Revenue Initial Guidance on COVID-19 TP Issues
27 Aug
Japan’s National Tax Agency Updated Guidance on TP Documentation
26 Aug
A View on What the Apple Decision Means for Global Tax Reform
25 Aug
ATO Highlights Concerns Over Multiple Entry Consolidated Groups Avoiding Capital Gains Tax
24 Aug
Key Proposed Amendments to the GST Act
20 Aug
New Digital Solution for SMEs to Automate Filing with Both IRAS and ACRA
19 Aug
OECD Finalises Model Rules for Platforms Reporting on Gig Economy Sellers
19 Aug
EU's Report on its Anti-Tax Avoidance Directive Implementation
19 Aug
Adoption of CRS XML Scheme Version 2.0 from 1 February 2021
19 Aug
Rental Details Form for Government Cash Grant (Announced in Fortitude Budget)
18 Aug
Benchmarking for 2020 and Managing Uncertainty
17 Aug
Revised e-Tax Guide on Income Tax Treatment of Foreign Exchange Gains or Losses for Businesses
17 Aug
Only Documents for Advanced YA, Current YA and Up to Four Back YAs Available for Request from IRAS
17 Aug
Government Cash Grant (Announced in Fortitude Budget)
17 Aug
ATO’s Concerns Over Arrangements With Interposed Entities to Avoid Interest Withholding Tax
14 Aug
New e-Tax Guide on Taxation of Insurers Arising from Changes Made to Risk-Based Capital Framework
14 Aug
TP Implications Arising from Operational Modifications During COVID-19
14 Aug
India Publishes Detailed Guidance on Mutual Agreement Procedure
14 Aug
Why the European Commission Must Appeal the Apple Decision
13 Aug
ATO Releases Draft Transfer Pricing Guidance on Interest-free Loans
12 Aug
Withholding and Apportionment Implications of Remote Work During COVID-19
12 Aug
Updated FATCA Fillable PDF Form to Include Entity Account Holder Type: Owner-Documented FFI With Specified U.S. Owner(s)
12 Aug
ATO’s Guidance on Thin Capitalisation Arm’s-length Debt Test
10 Aug
European Commission Proposals Require Exchange of Information from Online Platforms
07 Aug
Belize Now Has Automatic Exchange of Country-by-Country (CBC) Report Relationship With Singapore
06 Aug
UN Committee's Radically Different Proposal from OECD’s on Tax Treatment of Payments for Digital Services
06 Aug
Considerations for Second-Hand Dealers When Applying for the Gross Margin Scheme
06 Aug
Updated Checklist for Self-Review of Eligibility and Declaration on Use of Self-billing Form
06 Aug
Updated Self-review of Eligibility and Declaration on Use of Gross Margin Scheme
06 Aug
Updated Guidance on Self-billing by GST-registered Customers
04 Aug
ATO's TP Legislation Updated in respect of MNCs' Cross-border Dealings
04 Aug
PayNow QR as a Payment Option for All Major Tax Types in Singapore
03 Aug
New Income Tax Advance Rulings on Characterisation of Securities and Corresponding Tax Implications







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