CorpPass to Replace EASY by 1 September 2018 From 1 September 2018, CorpPass will be replacing EASY as the new authorization system. All businesses will be required to use CorpPass as of the next Q3 for any transactions completed with IRAS (Inland Revenue Authority Singapore). This new system will also be used to authorize any…
DetailsSoftcopy of Form C in PDF Format Now Available The softcopy of Form C in PDF Format, e-Services for Online Form C and Form C (Upload) for Year of Assessment (YA) 2018 are now available online at the Inland Revenue Authority of Singapore (IRAS) website. You can now start your e-Filing today. These moves…
DetailsCAP for CIT Rebates Raised Singapore’s Minister of Finance, Heng Swee Keat announced in Budget 2018 that the cap for the Corporate income Tax (CIT) Rebate for YA 2018 will be raised to 40% of the corporate tax payable subject to a cap of $15,000. This is an increase from the previously announced rebate of 20% of…
DetailsImportance Of Informing ACRA / IRAS On Changes All company owners in Singapore are advised to file any change of name or office address with the Accounting and Corporate Regulatory Authority (ACRA) immediately. This can be done online via www.bizfile.gov.sg/ There is no need to inform or update IRAS separately of the change in name or address. IRAS will update…
DetailsLapsing of Productivity and Innovation Credit (“PIC”) scheme As you may be aware, the PIC scheme will lapse after Year of Assessment (YA) 2018. YA 2018 refers to the company’s financial year ended 2017. The financial year ended 2017 will be the final time frame for companies to claim incurred qualifying expenses for PIC benefits.…
DetailsGST On Imported Services From Jan 1, 2020 Consumers and businesses who buy imported services from suppliers based overseas which have no establishments in Singapore will have to pay goods and services tax (GST) from Jan 1, 2020 onward. The GST will be levied on two types of services: business-to-business (B2B), such as marketing services, accounting services and IT services;…
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