IRAS Assisted Compliance Assurance Programme (ACAP): A Practical Guide to GST Self-Governance

Most Singapore companies treat GST compliance as a quarterly filing exercise: get the numbers right, submit the return, move on. The Inland Revenue Authority of Singapore (IRAS) has a separate, voluntary track for businesses that want to go further, called the Assisted Compliance Assurance Programme, or ACAP. It rewards companies that build a genuinely robust [...]

Group Relief and Loss Carry-Back Relief in Singapore: How Company Groups Can Use Them Together

When one company in a group makes a loss and another is profitable, most business owners assume the loss simply sits on the books until the loss-making entity turns a profit of its own. That is not how Singapore's corporate tax system works, and treating it that way can mean paying more tax than the [...]

Related Party Transactions in Singapore Financial Statements: FRS 24 Disclosure Requirements Explained

Related Party Transactions in Singapore Financial Statements: FRS 24 Disclosure Requirements Explained Every Singapore private company that transacts with its own directors, shareholders, or group companies is, whether it realises it or not, dealing in related party transactions. A director's loan account, a management fee charged by a holding company, a director-owned property rented to [...]

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