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ePublications

SIATP's E-newsletter, Taxlogue! - an exclusive platform only for accredited tax professionals to spark more dialogue and inspiration in the area of taxation. If you wish to access Taxlogue, join SIATP and be accredited!

1st Quarter 2014 (Articles: Seek clarity between the difference in reimbursements and disbursements in Remove the Haze in Reimbursements and Disbursements by Richard MacKender; Comprehend the various forms of tax treatments in Grasp the Multi-faceted Aspect of India Taxation by Rohan Solapurkar (both Partners of Deloitte Singapore); and Embark on the journey to tax advisory work in The Bedrock of Tax Advisory by Darren Koh (SIM University’s Head of the Master of Taxation Programme).

4th Quarter 2013 (Articles: Understand how to safeguard your professional repute with The “Rights” (and “Wrongs”) in Negligence Claims by Tan Kay Kheng (WongPartnership Head of Tax Practice); Conquer the complexities of documentation in Navigating the Transfer Pricing Battlefield by Alan Ross (PwC Singapore's Head of Tax) and Senior Manager Falgun Thakkar; and Know the Implications of various types of Compensations by Sharma (ATMD Bird & Bird LLP’s Consultant).

3rd Quarter 2013 (Article: Usage of Latin Words in the Tax Statutes by Accredited Tax Advisor (Income Tax) Mr Leung Yew Kwong, Principal Tax Consultant of KPMG in Singapore.)

2nd Quarter 2013 (Article: Cross Border Taxation.  it is not the known tax obligations and risks that one should be mindful of, but the unknown. Know the best practices. Based on a presentation facilitated by Mr Goh Bun Hiong, Accredited Tax Advisor (Income Tax and GST), who holds the position of a Tax Director at PKF-CAP LLP.)

Check out IRAS’ latest GST Bulletin on new e-services to retrieve past GST returns at no cost and submit requested documents in a convenient and secured manner. Understand the implications of misusing MES status and not displaying GST-inclusive prices, and lastly check out the overview on Reimbursement and Disbursement.

 

TAX ALERTS

Click on the links below for recent tax alerts

APRIL 2014

  • Basis Period and Year of Assessment (23 April 2014) [Read more]
  • Income Tax Return (Form C/ Form C-S) & ECI Filing Obligations (23 April 2014) [Read more]
  • Tax Relief for Individuals (Foreigners) (23 April 2014) [Read more]
  • FAQs on Cash Payout Option under the Productivity and Innovation Credit (PIC) Scheme (21 Apr 2014) [Read more]
  • Tips for SMEs on Form C/ Form C-S Filing (21 Apr 2014) [Read more]
  • Essential Information to Note When Filing Form C-S (21 Apr 2014) [Read more]
  • Essential Information to Note When Filing Form C (21 Apr 2014) [Read more]
  • How to Complete Form C (21 Apr 2014) [Read more]
  • Documents to be Retained and Submitted to IRAS Upon Request for Filing the Income Tax Form (Form C/ Form C-S) (21 Apr 2014) [Read more]
  • Documents to be Prepared and Filed for Completing the Income Tax Return (Form C/ Form C-S) (21 Apr 2014) [Read more]
  • How to Obtain Form C/ Form C-S (21 Apr 2014) [Read more]
  • Filing Form C-S (Simplified Tax Filing for Small Companies) (21 Apr 2014) [Read more]
  • Updated Form C-S (21 Apr 2014) [Read more]
  • Tax Treatment of Other Payments by Employer (17 Apr 2014) [Read more]
  • Updated Form for Declaration for the Purpose of Claiming Writing-Down Allowances for Intellectual Property Rights (IPRs) under Section 19B of the Income Tax Act [Read more]
  • Updated Form for Request for Income Tax Return and Notification of New Accounting Year-End (17 Apr 2014) [Read more]
  • E-Service “File Income Tax Return (Form C-S)” will be available from 2 Jun 2014 for e-Filing of YA 2014 Form C-S (17 Apr 2014) [Read more]
  • Basic Format of Tax Computation for an Investment Holding Company (17 Apr 2014) [Read more]
  • Accommodation Provided by Employer (17 Apr 2014) [Read more]
  • Updated Form C (17 Apr 2014) [Read more]
  • Receiving Grant for GST Registered Businesses (17 Apr 2014) [Read more]
  • Phasing Out the Excel PIC Cash Payout Application Form (17 Apr 2014) [Read more]
  • Claiming Input Tax Incurred in the Making of Exempt Supplies (De Minimis Rule) (15 Apr 2014) [Read more]
  • Business Expenses for Sole-proprietors/Self-employed (10 Apr 2014) [Read more]
  • Service Income from Overseas For Sole-Proprietors/Self-employed (10 Apr 2014) [Read more]
  • Updated Withholding Tax Forms (9 Apr 2014) [Read more]
  • Parent/Handicapped Parent Relief for Individuals (9 Apr 2014) [Read more]
  • How to Claim Foreign Tax Credit (9 Apr 2014) [Read more]
  • Auction for GST-Registered Businesses (8 Apr 2014) [Read more]
  • Advertising for GST-Registered Businesses (8 Apr 2014) [Read more]
  • Advance Ruling System for GST (8 Apr 2014) [Read more]
  • Qualifying/Handicapped Child Relief for Individuals (For locals) (8 Apr 2014) [Read more]
  • Grandparent Caregiver Relief for Individuals (For locals) (8 Apr 2014) [Read more]
  • Claim Capital Allowances for Sole-proprietors/Self-employed (7 Apr 2014) [Read more]
  • Providing International Services for GST-Registered Businesses (7 Apr 2014) [Read more]
  • Income Tax Treatment for Junket Promoters and Representatives (4 Apr 2014) [Read more]
  • Pointers for Buyers of Non-Residential Properties (Before Purchase) (4 Apr 2014) [Read more]
  • Pointers for Buyers of Private Residential Properties (Before Purchase) (4 Apr 2014) [Read more]
  • Property Owners to Notify IRAS if Cease to Occupy Property (4 Apr 2014) [Read more]
  • Updated Property Forms (4 Apr 2014) [Read more]
  • Vacancy Refund Claims for Rent-free Fitting-out Periods Prior to 1 Jan 2014 (4 Apr 2014) [Read more]
  • How Casino Tax is Computed (4 Apr 2014) [Read more]
  • Compliance Matters for Private Lotteries Duty (4 Apr 2014) [Read more]
  • Singapore and Sri Lanka Revise Their Agreement for the Avoidance of Double Taxation (3 Apr 2014) [Read more]
  • GIRO Payments (3 Apr 2014) [Read more]
  • Applying for Certificate of Residence (COR) for Companies (3 Apr 2014) [Read more]
  • GST Assisted Self-help Kit (ASK) for GST-Registered Businesses (3 Apr 2014) [Read more]
  • Updated e-Services for Individuals (3 Apr 2014) [Read more]
  • Foreign Maid Levy Relief for Individuals (3 Apr 2014) [Read more]
  • Payment of 2014 property tax bills (2 Apr 2014) [Read more]
  • Purchased a HDB Flat (Stamp Duty) (2 Apr 2014) [Read more]
  • Person Liable to Pay Stamp Duty (2 Apr 2014) [Read more]
  • Transfer of Shares in Private Companies (Stamp Duty) (2 Apr 2014) [Read more]
  • Transfer of Shares Listed on Stock Exchange of Singapore (Stamp Duty) (2 Apr 2014) [Read more]
  • Transfer of Ordinary Shares in Newly Incorporated Companies (Stamp Duty) (2 Apr 2014) [Read more]
  • Property Owners Selling your Property (2 Apr 2014) [Read more]
  • Property Owners Trying to Rent out your Property (Full Vacancy Claim) (2 Apr 2014) [Read more]
  • Objecting to the Annual Value of your Property (2 Apr 2014) [Read more]
  • Property Owners Renting out your Property (2 Apr 2014) [Read more]
  • Highlights of Property Tax Changes with Effect from 2014 (2 Apr 2014) [Read more]
  • Notes for Property Owners (2 Apr 2014) [Read more]
  • Tourist Refund Scheme for Consumers (1 Apr 2014) [Read more]
  • Estate Duty Forms (1 Apr 2014) [Read more]
  • Getting Estate Duty Clearance (1 Apr 2014) [Read more]
  • Tourist Refund Scheme for GST-Registered Businesses (1 Apr 2014) [Read more]
  • Approved Marine Customer Scheme (AMCS) (1 Apr 2014) [Read more]
  • Specialised Warehouse Scheme (SWS) (1 Apr 2014) [Read more]
  • Revised GST e-Tax Guide on Guide for the Fund Management Industry (1 Apr 2014) [Read more]
  • Approved Refiner and Consolidator Scheme (ARCS) for GST-Registered Businesses (1 Apr 2014) [Read more]
  • Approved Contract Manufacturer and Trader (ACMT) Scheme (1 Apr 2014) [Read more]
  • GST Assisted Compliance Assurance Programme (ACAP) (1 Apr 2014) [Read more]
  • GST Initiatives to Facilitate Voluntary Compliance (1 Apr 2014) [Read more]
  • MARCH 2014

  • Revised GST e-Tax Guide on Visitors on Tourist Refund Scheme (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Guide for the Biomedical Industry (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Import GST Deferment Scheme (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Guide for Retailers (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on the Aerospace Industry (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Assisted Self-Help Kit ('ASK') Annual Review Guide (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Retailers Participating in Tourist Refund Scheme (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Specialised Warehouse Scheme and Zero-rating of Supplies (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Purchase of Land for Residential Development (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Electronic Tourist Refund Scheme (eTRS) (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Assisted Compliance Assurance Programme (ACAP) (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Clarification on "Directly in Connection With" and "Directly Benefit" (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Guide on e-Commerce (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Major Exporter Scheme (31 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on the Insurance Industry (31 Mar 2014) [Read more]
  • Demolish and/or Rebuild your Property (31 Mar 2014) [Read more]
  • Six Qualifying Activities under PIC (31 Mar 2014) [Read more]
  • PIC Benefits for Companies (31 Mar 2014) [Read more]
  • PIC+ Scheme (31 Mar 2014) [Read more]
  • Payments for use of movable property under Section 12(7)(d) of the Income Tax Act (31 Mar 2014) [Read more]
  • Withholding Tax (for Payment to Non-residents or Non-resident Companies) (28 Mar 2014) [Read more]
  • Essential GST information for GST-registered Businesses (26 Mar 2014) [Read more]
  • Companies' Tax rates & Tax exemption schemes (26 Mar 2014) [Read more]
  • FAQs on PIC Bonus (26 Mar 2014) [Read more]
  • Updates on PIC Bonus (26 Mar 2014) [Read more]
  • e-Service for Property Tax (26 Mar 2014) [Read more]
  • Updates on Wage Credit Scheme (WCS) (25 Mar 2014) [Read more]
  • Updates on Other Taxes & Services Forms (24 Mar 2014) [Read more]
  • PIC Enhanced Allowances/Deductions Declaration Form and Cash Payout Application Form (24 Mar 2014) [Read more]
  • New e-Tax Guide on Writing-Down Allowance on Payment for Indefeasible Right of Use (24 Mar 2014) [Read more]
  • New GST e-Tax Guide on Advance Ruling System (21 Mar 2014) [Read more]
  • Help on e-Filing for Individuals (19 Mar 2014) [Read more]
  • Updates on Telegraphic Transfer (TT) (19 Mar 2014) [Read more]
  • Updates on IRAS' Accounting Software Register (18 Mar 2014) [Read more]
  • Tourist Refund Scheme for GST-Registered Businesses (18 Mar 2014) [Read more]
  • FAQs for Individuals (For Locals) Filing Income Tax (17 Mar 2014) [Read more]
  • Keeping Proper Records and Accounts for sole-proprietors/self-employed (17 Mar 2014) [Read more]
  • Keeping Proper Records and Time Limit to Raise Assessments (17 Mar 2014) [Read more]
  • Keeping Records for GST-Registered Businesses (17 Mar 2014) [Read more]
  • Approved Contract Manufacturer and Trader (ACMT) Scheme (14 Mar 2014) [Read more]
  • Updates on Stamp Duties Act (14 Mar 2014) [Read more]
  • Advance Ruling System for GST (13 Mar 2014) [Read more]
  • Updates on GST Forms (13 Mar 2014) [Read more]
  • Budget 2012 - Overview of Tax Changes (13 Mar 2014) [Read more]
  • Update Personal Particulars for Individuals (For Locals) (13 Mar 2014) [Read more]
  • NSman (Self/Wife/Parent) Relief (13 Mar 2014) [Read more]
  • Filing tax for Individuals (For Locals) (13 Mar 2014) [Read more]
  • Leases with Fixed Rent (12 Mar 2014) [Read more]
  • Seller Stamp Duty (Residential) (12 Mar 2014) [Read more]
  • Seller Stamp Duty (Industrial) (12 Mar 2014) [Read more]
  • Surrender of Lease (12 Mar 2014) [Read more]
  • Novation or Assignment of Lease (12 Mar 2014) [Read more]
  • Updates on Full Vacancy Claim for Rental of Property (12 Mar 2014) [Read more]
  • Updates on If I Am in Singapore for 183 Days or More (Tax Resident) (12 Mar 2014) [Read more]
  • FAQs on Productivity and Innovation Credit (PIC) (12 Mar 2014) [Read more]
  • Information to Help Sole-proprietors/Self-employed Prepare and File Tax Return (11 Mar 2014) [Read more]
  • Tax Clearance e-Services by Employer (11 Mar 2014) [Read more]
  • Updates to Goods and Services Tax Act (11 Mar 2014) [Read more]
  • Updates to Property Tax Act (11 Mar 2014) [Read more]
  • Preparation of Employment Income for e-Submission (11 Mar 2014) [Read more]
  • Payment Modes for Tax (10 Mar 2014)
  • Property Tax [Read more]
  • Individual Tax [Read more]
  • GST [Read more]
  • Exemptions from Stamp Duty (7 Mar 2014) [Read more]
  • FAQs on the Wage Credit Scheme (7 Mar 2014) [Read more]
  • Singapore Budget - Overview of Tax Changes (7 Mar 2014) [Read more]
  • Course Fees Relief for Individuals (For Locals) (7 Mar 2014) [Read more]
  • Updates on Failure to Stamp, Stamp Late or Stamp Insufficiently (6 Mar 2014) [Read more]
  • Property Tax Remission for Residential Property Undergoing A&A Work (Bldg Work Remission) (6 Mar 2014) [Read more]
  • Approved Marine Fuel Trader (MFT) Scheme (6 Mar 2014) [Read more]
  • Dividends for Individuals (For Locals) (6 Mar 2014) [Read more]
  • FAQs on the Wage Credit Scheme (5 Mar 2014) [Read more]
  • Updates on Stamp Duties Act (5 Mar 2014) [Read more]
  • FAQs on Filing Individual Income Tax Form B/B1 (5 Mar 2014) [Read more]
  • Concessionary Property Tax Rates for Owner-Occupied Residential Properties (5 Mar 2014)[Read more]
  • Updates on Failure to Pay or Late Payment (3 Mar 2014) [Read more]
  • Updates on Failure to File or Late Filing (3 Mar 2014) [Read more]
  • Tourist Refund Scheme for Consumers (3 Mar 2014) [Read more]
  • Updates on Failure to Pay or Late Payment for Companies (3 Mar 2014) [Read more]
  • Updates on Failure to File or Late Filing for Companies (3 Mar 2014) [Read more]
  • Tips on e-Filing for Year of Assessment (YA) 2014 (3 Mar 2014) [Read more]
  • Paper filing (Form M) for Individuals (Foreigners) (3 Mar 2014) [Read more]
  • No-Filing Service (NFS) for Individuals (Foreigners) (3 Mar 2014) [Read more]
  • Filing Using a Paper Tax Return (3 Mar 2014) [Read more]
  • Stamping of Document (3 Mar 2014) [Read more]
  • Revised GST e-Tax Guide on Electronic Tourist Refund Scheme (eTRS) (3 Mar 2014) [Read more]
  • Revised e-Tax Guide on Income Tax Treatment of Limited Partnerships (LPs) (1 Mar 2014) [Read more]
  • Revised e-Tax Guide on Income Tax Treatment of Limited Liability Partnerships (LLPs) (1 Mar 2014) [Read more]
  • Read More >>

    NEWS WATCH

    Click on the links below for more business news and updates in the Accountancy sector

     2014

  • Tax Season 2014: More Taxpayers Filed Earlier (23 Apr 2014) [Read more]
  • Stiffer Penalties for Directors in Tax (15 Apr 2014) [Read more]
  • Qualifying Child Relief (11 Apr 2014) [Read more]
  • Manufacturer Pays $170,000 in Taxes and Penalty for Failing to Register for GST (11 Apr 2014) [Read more]
  • Advisory on Scam & Fraudulent Activities (10 Apr 2014) [Read more]
  • IRAS Clarifies Tax Filing Obligations (10 Apr 2014) [Read more]
  • Tax News: S'pore Firms Urged to Ensure Tax Systems Ready for Global Stage (10 Apr 2014) [Read more]
  • 2014 Asia Pacific Tax Complexity Survey (8 Apr 2014) [Read more]
  • Midas Promotions to pay $793,000 in taxes, penalties and fines for failing to register for GST (28 Mar 2014) [Read more]
  • Businesses Can Schedule Productivity Investments to Benefit From PIC Scheme (18 Mar 2014) [Read more]
  • Employers to Receive First Tranche of Wage Credit Scheme Payouts by End March 2014 (18 Mar 2014) [Read more]
  • Public Alert on Scam IRAS Email (7 Mar 2014) [Read more]
  • Over 1.2 Million Taxpayers Need Not File Taxes (28 Feb 2014) [Read more]
  • taxBytes@iras Issue 6: Oct - Dec 2013 (25 Feb 2014) [Read more]
  • How IRAS Gauges Taxability of Gains from the Disposal of Properties (24 Feb 2014) [Read more]
  • Company Director Gets 5 Weeks' Jail for PIC Fraud (21 Feb 2014) [Read more]
  • Company Penalised $180,000 for False PIC Claims (14 Feb 2014) [Read more]
  • Retailers Have to Check Buyers' Eligibility on GST Refunds (8 Feb 2014) [Read more]
  •  

    2013

  • Manager Faced Hefty Penalty for Unlawful Collection of GST (25 Oct 2013) [Read more]
  • Company Director Jailed for Fraudulent PIC Claims (19 Sep 2013) [Read more]
  • Six weeks jail for property agent who forged stamp certificate (6 Sep 2013) [Read more]
  • Password for e-Invoice System a Necessary Safeguard (1 Jul 2013) [Read more]
  • Annual Value of Most Properties Reviewed Within 1 or 2 Years from Improvement Works (19 June 2013) [Read more]
  • IRAS Audits Tax Cheats Leading to 2 Weeks Jail (14 June 2013) [Read more]
  • Tax Season 2013: Record 95% Filing Rate (19 Apr 2013) [Read more]
  • Sole-proprietor jailed for omitting business income from his tax returns (12 Apr 2013) [Read more]
  • 'Round-tripping' risks at land checkpoints (8 Apr 2013) [Read more]
  • First Freight Forwarding Company fined for Misusing the Major Exporter Scheme (8 Mar 2013) [Read more]
  • Property Agent Jailed 12 Weeks for Using Fake Stamp Certificates (21 Jan 2013) [Read more]
  • Property Agent Jailed Two Weeks for Using Fake Stamp Certificates (18 Jan 2013) [Read more]

    2012

  • Two Caught for Fraud in Tourist Refund Claims (21 Dec 2012) [Read more]
  • Remisier Convicted for Tax Evasion (22 Nov 2012) [Read more]
  • Fraudulent GST Claims Put Sole-Proprietor in Jail (25 Oct 2012) [Read more]
  • First Trader Charged for False Declaration in GST Registration (19 Oct 2012) [Read more]
  • Company pays penalty of a quarter million for tax evasion (3 August 2012) [Read more]
  • First Retailer Fined over Failure to Display GST-Inclusive Prices (20 July 2012) [Read more]
  • Company Manager Jailed for GST Fraud (4 July 2012) [Read more]
  • Technology Company Convicted of Tax Evasion (18 May 2012) [Read more]
  • Property Agent Jailed 12 weeks for Using Fake Stamp Certificates (15 May 2012) [Read more]
  • Certified Public Accountant Fined for Under-Reporting Income (13 April 2012) [Read more]
  • Notice of Sale for 27 Kranji Loop to Recover Outstanding Property Tax and Related Penalties (10 April 2012) [Read more]
  • Private School Pays $70,000 in Penalty for Failure to Register for GST (23 Mar 2012) [Read more]
  • Certified Public Accountant Pays a Heavy Penalty for Assisting Company to Evade Tax (7 Mar 2012) [Read more]
  • 2011

  • Underpayment of GST by Unusual Entertainment Pte Ltd (30 Dec 2011) [Read more]
  • Sole Proprietor Found Guilty of False GST Claims (8 Nov 2011) [Read more]
  • Tourist Found Guilty of False GST Claims (16 Sep 2011) [Read more]
  • Company and director charged in court for GST fraud (29 July 2011) [Read more]
  • Read More >>