The Inland Revenue Authority of Singapore (IRAS) will increase the annual revenue threshold for filing Form C-S.
Last week, Singapore’s finance minister announced the 2017 budget. We’ve summarized its most important points for foreign entities doing business in Singapore and for those considering expanding there.
Singapore’s finance minister announced the country’s FY 2017 budget on February 20.
For assessing the financial year ending in 2017, taxpayers with cumulative related party transactions exceeding S$15,000,000 in audited accounts are required to complete a form for reporting related party transactions.
On March 24, Singapore’s Finance Minister Heng Swee Keat announced the Singapore budget for the 2016 financial year. An outline of Heng’s speech to parliament, with links to passages by topic, is available on the government website. Since the full text runs to over 14,000 words — or 72 pages in the downloadable Word document — we’re summarizing the budget’s important tax-related points here.