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All employers are required by law to prepare Form IR8A and Appendix 8A, Appendix 8B or Form IR8S (where applicable) for all your employees who are employed in Singapore and give it to them by 1 Mar 2017; or submit electronically (under AIS scheme) the employment income information to IRAS by 1 Mar each year.

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The Singapore Budget will be delivered by Finance Minister Heng Swee Keat on 20 February 2017.

It is expected to reflect some of the recommendations by the Committee on the Future Economy, and thus will be closely watched. It will also be a comeback for Mr Heng, who has been keeping a low profile since he suffered a stroke last year.

7 things to know about Singapore's Budget

  1. Budget Day
  2. Unusual Timings
  3. The Finance Minister
  4. From Items to Programmes
  5. Largest Surplus
  6. Biggest Deficit
  7. Gathering Feedback

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1. Singapore and India signed a Protocol to amend their bilateral Avoidance of Double Taxation Agreement (DTA) in New Delhi on 30 December 2016. The Protocol was signed between H.E. Mr Lim Thuan Kuan, Singapore’s High Commissioner to India and Shri Sushil Chandra, Chairman of the Central Board of Direct Taxes, India.

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If you log in by 15 Jan 2017
• A one-time grace period of 30 days will be given
• No disruption to online transactions


If you log in from 16 Jan 2017
• No grace period will be given
• Wait for 7-10 work days to set up 2FA before you can transact online


>> Save the hassle. Log in to your SingPass account & set up your 2FA today.

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The new Singapore-Lao People’s Democratic Republic Avoidance of Double Taxation Agreement (DTA) entered into force on 11 November 2016.

 

The DTA provides clarity on tax matters and eliminates double taxation relating to cross-border transactions between the two countries.

 

The full text of the DTA is available HERE.

 

Source: MOF