Singapore

On 8 September 2026, the Inland Revenue Authority of Singapore (IRAS) published updated guidance on preparing tax computations for companies that alter their financial year end, resulting in financial periods that straddle two Years of Assessment (YAs). The amendments clarify the filing obligations under the Income Tax Act when a change in accounting period creates […]

On 7 September 2026, the Inland Revenue Authority of Singapore (IRAS) announced the conviction of a businessman operating in the pre-owned luxury watch trade for multiple income tax and Goods and Services Tax (GST) offences. The case underscores IRAS’s intensified enforcement focus on high-value goods sectors prone to tax evasion and fraud. The conviction follows

On 4 September 2026, the Inland Revenue Authority of Singapore (IRAS) released its Annual Report for Fiscal Year 2025/26, covering the period from 1 April 2025 to 31 March 2026. The report provides a comprehensive overview of tax administration performance, revenue collection trends, compliance initiatives, and digital transformation progress. It highlights key achievements including the

On 4 September 2026, the Inland Revenue Authority of Singapore (IRAS) released its Annual Report for Fiscal Year 2025/26, covering the period from 1 April 2025 to 31 March 2026. The report provides a comprehensive overview of tax administration performance, revenue collection trends, compliance initiatives, and digital transformation progress. It highlights key achievements including the

On 3 September 2026, IRAS updated the guidance on the tax treatment of withdrawals from the Supplementary Retirement Scheme (SRS) following the increase in the statutory retirement age from 63 to 64, effective 1 July 2026. The amendment affects the age at which SRS members can make penalty-free withdrawals and the tax concession on withdrawals

On 3 September 2026, IRAS updated the guidance on the tax treatment of withdrawals from the Supplementary Retirement Scheme (SRS) following the increase in the statutory retirement age from 63 to 64, effective 1 July 2026. The amendment affects the age at which SRS members can make penalty-free withdrawals and the tax concession on withdrawals

On 3 September 2026, the Ministry of Defence (MINDEF) and IRAS issued a joint clarification regarding the correction of National Serviceman (NSman) tax relief records. The clarification addresses errors in the submission of NSman relief claims by employers for Year of Assessment 2025 and prior years. Specifically, some employers had incorrectly reported NSman relief amounts

On 3 September 2026, the Ministry of Defence (MINDEF) and IRAS issued a joint clarification regarding the correction of National Serviceman (NSman) tax relief records. The clarification addresses errors in the submission of NSman relief claims by employers for Year of Assessment 2025 and prior years. Specifically, some employers had incorrectly reported NSman relief amounts

Effective 1 September 2026, the Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax Guide for the Goods and Services Tax (GST) Assisted Compliance Assurance Programme (ACAP) renewal process. The amendments introduce mandatory review of partial exemption rules application on input tax recovery for partially exempt businesses during ACAP renewal reviews. Additionally, the

On 1 September 2026, IRAS released an amended version of the GST Assisted Compliance Assurance Programme (ACAP) e-Tax Guide, focusing on procedural enhancements for technical clarification requests. The update adds paragraphs 7.5 to 7.7 to Appendix 1 (GST ACAP Review Guidance), detailing specific information requirements for taxpayers and tax agents seeking technical clarifications from IRAS