Insights

The last decade has witnessed a growing trend for tax administrations leveraging technology and introducing e-invoicing as a means to streamline tax administration and tackle tax fraud and evasion. In Singapore, the Inland Revenue Authority of Singapore (IRAS) has just announced the the mandatory adoption of e-invoicing under their InvoiceNow initiative for newly GST-registered companies with the possibility of it being rolled out to all other GST-registered businesses.

Transfer pricing documentation (TPD) is a crucial aspect of tax compliance for businesses in Singapore. With the Inland Revenue Authority of Singapore (IRAS) placing increased emphasis on transfer pricing practices, it is essential for taxpayers to understand the key aspects of TPD requirements.

In this 1-hour webinar playback, our Employer Solutions team aims to bring light to the possibly confusing topic of equity-based remuneration in Singapore, addressing the common challenges and misconceptions around LTIP reporting

Artificial intelligence (“AI”) as a general-purpose technology, offers a wide range of opportunities across various fields. According to the IBM Global AI Adoption Index 2023, 42% of organisations surveyed have AI actively in use in their businesses and an additional 40% are currently exploring or experimenting with AI but have not deployed their models. Amid the promising capabilities of AI, organisations face a looming threat: the misuse of AI by fraudsters. The ease of access and availability of sophisticated AI models on an open-source basis exacerbates this threat.

The European Union (EU) stepped up in 2021 and unveiled the Carbon Border Adjustment Mechanism (CBAM) where fees are charged on carbon footprint of certain imports. This aims to curb emissions, level the playing field, and unlock opportunities for innovation and a greener future.

OECD has released key transfer pricing guidance on Pillar 1 - Amount B report. With the evolving global tax landscape, it is vital for business to understand these initiatives to take appropriate actions to strengthen tax governance and mitigate tax risks.

The U.S. Securities and Exchange Commission (SEC) adopted on 6 March 2024 some significant and highly anticipated climate-related disclosure requirements for public companies in their periodic disclosure reports and in registration statements for public offerings (Final Rules).

Equity grants (Employee Stock Option Plans (ESOPs) and Employee Share Ownership Plans (ESOWs)) can come with their own set of challenges for reporting and taxability. Globally mobile individuals add an additional layer of complexity as they may even be caught with taxes in more than one country. In this article, we address the characteristics of ESOP/ESOW reporting that you should be aware of.

2024 marks the 20th year of Grant Thornton’s work to monitor and measure the percentage of senior management positions held by women at mid-market businesses across the globe. While there has certainly been progress over the past 20 years, this progress has been far too slow.

Explore a summary of the key highlights announced in the Singapore Budget 2024 revealed by Finance Minister Lawrence Wong on 16 February 2024

Explore a summary of the key highlights announced in the Singapore Budget 2024 revealed by Finance Minister Lawrence Wong on 16 February 2024

Explore the feedback we've provided to MOF, highlighting areas of opportunity and concern, and our recommendations for sustainable economic development. Of the feedback, we dive into three hot topics - Global minimum corporate tax, Environmental, social and governance (ESG), and closing gaps and simplifying the current tax regime

The Singapore Budget 2024 is scheduled to be announced by Deputy Prime Minister and Minister for Finance Lawrence Wong on 16 February 2024. This hub will be where you can get key takeaways and potential impacts from our tax experts, empowering businesses and individuals to make informed decisions.

In this 1-hour webinar playback, our Employer Solutions team unravel the challenging areas of Singapore's income tax form, applicable to both your local and expat employees. The session aims to provide HR teams with knowledge and insights of annual reporting requirements.

The International Sustainability Standards Board (ISSB) has published amendments to the SASB Standards which aim to strengthen their international applicability. The amendments are intended to help reporting entities apply the SASB Standards regardless of the jurisdiction they are in or the generally accepted accounting principles (GAAP) they report under. However, they are not intended to significantly alter the structure or intent of the SASB Standards.

Sustainability reporting is not just about transparency and accountability; it's a catalyst for driving sustainable practices and policies. This article provides an introduction to what the GRI standards are and how to use them for your sustainability reporting.