Effective Year of Assessment 2026, IRAS has expanded the Life Insurance Relief to allow wives to claim tax relief on insurance premiums paid on life insurance policies owned by their husbands. Previously, the relief was restricted to premiums paid on the taxpayer’s own policy or on a policy owned by the taxpayer’s spouse where the […]
With effect from Year of Assessment 2026, IRAS has amended the Spouse Relief and Spouse Relief (Disability) to include maintenance payments made by legally separated wives to their husbands under a court order or deed of separation. Previously, the relief was only available to husbands maintaining wives or to wives maintaining incapacitated husbands. The amendment
The recent enhancement to the IRAS webpage titled ‘Applying for a Certificate of Residence/ Tax Reclaim Form’ provides clearer guidance for foreign‑owned investment holding companies seeking to establish a valid reason for setting up operations in Singapore. The update outlines the specific conditions that such entities must satisfy, including demonstrable economic activity, substantive personnel, and
Applying for a Certificate of Residence/ Tax Reclaim Form Read More »
On 3 July 2026, the Inland Revenue Authority of Singapore (IRAS) filed criminal charges against the proprietor of the popular “Eminent Frog Porridge” eatery for alleged tax evasion amounting to SGD 3.8 million and related money‑laundering activities. The prosecution alleges that the individual deliberately concealed substantial revenue streams, fabricated expense records and employed offshore structures to
Singapore: Restaurant Owner Charged with $3.8M Tax Evasion, Money Laundering Read More »
