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The Companies (Amendment) Act 2017 introduced an inward re-domiciliation regime, allowing foreign corporate entities to transfer their registration to Singapore, which took effect on 11 October 2017. It was crafted with a specific purpose: to enable foreign corporate entities that want to relocate their regional and worldwide headquarters to Singapore while still retaining their corporate…
Singapore has introduced its most significant insolvency and corporate winding-up reforms in over a decade through the Corporate and Accounting Laws Amendment Act 2025 (CALA 2025). The new rules impose stricter reporting obligations on liquidators and allow the authorities to refuse to restore struck-off or wound-up companies where there is a concern about misuse. As…
Singapore’s system for collecting Goods and Services Tax is based on self-assessment. Rather than calculating a business’s tax liability, the government requires GST-registered businesses to determine the amount of tax they owe and report the results to the IRAS without prior verification by the authority. GST return filing Singapore has become part of a broader…
Why is Singapore requiring businesses to change the way they issue invoices? IRAS introduced GST InvoiceNow to improve the accuracy and timeliness of GST reporting by replacing manual invoice submission with the electronic transmission of structured invoice data. The phased rollout also aims to reduce manual processing and simplify GST administration for businesses and IRAS.…
Singapore is shifting towards a fully digital GST compliance system through InvoiceNow, the national e-invoicing network built on the PEPPOL standard. It enables businesses to exchange structured invoice data electronically, improving efficiency, accuracy, and transparency in tax reporting. Under the GST InvoiceNow Requirement, GST-registered businesses must use InvoiceNow-ready solutions to transmit invoice data to IRAS.…
Singapore’s corporate compliance framework has become more stringent following the commencement of key provisions under the ACRA Corporate and Accounting Laws (Amendment) Act 2025 in May 2026, which include stricter enforcement of directors’ duties, with penalties of up to S$20,000 and imprisonment of up to 12 months for serious breaches. As a result, businesses that…
Singapore is rapidly moving toward a fully digital tax and invoicing system, & InvoiceNow is at the centre of this transformation. According to IMDA updates, more than 60,000 businesses are already connected to InvoiceNow, reflecting steady nationwide adoption of Peppol-based e-invoicing across SMEs and larger enterprises. This foundation is now being extended into GST compliance…
Corporate tax filing is a mandatory annual compliance requirement for all companies in Singapore under the Inland Revenue Authority of Singapore (IRAS). For the Year of Assessment (YA) 2026, all companies must file their Corporate Income Tax Return by 30 November 2026, including companies with no income or business activity. Singapore’s corporate tax system is…