Insights

The third of a three-part series on cash-generating units (CGUs), this article discusses how to allocate goodwill to CGUs.

In this article, we discuss how to identify cash-generating units (CGUs).

This newsletter highlights IAS and IFRS amendments, proposed amendments, and decision points that have been released from April 2021 to October 2021.

This amendment was released on 12 February 2021 by the IASB. This amendment helps entities to distinguish between accounting policies and accounting estimates. This article is part of our IFRS technical updates newsletter.

In the October 2021 meeting, the IASB deliberated on the proposed amendment aiming at companies to improve usefulness of the comparative information presented on initial application of IFRS17 and IFRS 9. This article is part of our IFRS technical updates newsletter.

This amendment was released by the IASB on 7 May 2021. This amendment looks at the deferred tax related to assets and liabilities arising from a single transaction. This article is part of our IFRS technical updates newsletter.

In the April 2021 meeting, the IASB proposed amendments setting out accounting for when no foreign exchange rate exists. This amendment aims to help companies determine whether a currency can be exchanged into another currency, and what accounting to apply if the currency cannot be exchanged. This article is part of our IFRS technical updates newsletter.

The IFRS Interpretations Committee decided to finalise an agenda decision that includes the material explaining how IFRS principles are applied to the fact pattern submission. This article is part of our IFRS technical updates newsletter.

We are pleased to share Example consolidated financial statements 2021 to assist you in your preparation of your financial statements inline with the latest International Financial Reporting Standards (IFRS) changes.

With “working from anywhere” becoming more commonplace, this two-part webinar series breaks down potential corporate and personal tax risks. From permanent establishments to where your employees need to pay tax, find out how you can mitigate the risk or limit their impact.

The OECD/G20 Inclusive Framework announced more details in the implementation of the two-pillar solution to address the tax challenges arising from the digitalisation of the economy. In this article, we explain what's been agreed to as part of the implementation plan and how each pillar may impact Singapore.

In the OECD’s latest announcement, the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting has released more details on the implementation of the two-pillar solution to address tax challenges arising from the digitalisation of the economy. The Two-Pillar Solution is aimed at ensuring multinational enterprises (MNEs) will be subject to a minimum tax rate of 15%, and will re-allocate profit of the largest and most profitable MNEs to countries worldwide.

In this piece, we highlight the new articles introduced in the updated Avoidance of the Double Tax Agreement (DTA) between Singapore and Indonesia. These updates will be effective from 1 January 2022.

This update focuses on GST on services provided remotely and the resulting compliance obligations and GST treatment. This is part of the extension of the Singapore regime for Goods and Services Tax and will take effect from 1 January 2023.

New transfer pricing guidelines have been published in Singapore, consolidating earlier guidance. Munjal Almoula of Grant Thornton Singapore looks at the amendments and updates, including a significant change which seems to indicate an increased focus by the Inland Revenue Authority on transfer pricing issues.

This update focuses on GST on low value goods and the resulting compliance obligations and GST treatment. This is part of the extension of the Singapore regime for Goods and Services Tax and will take effect from 1 January 2023.