Latest Updates

• Updated the citation of Acts. 

• Updated to reflect the renumbered provisions based on the Income Tax Act 1947.

• Updated paragraphs 2.2 and 6.2 to include the GST registration liability under the reverse charge regime.

• Updated the table in paragraph 5.8 on expenses under certain sections of the ITA where a VCC will not be allowed a deduction.

• Updated footnote 26 to reflect the CIT rebate and CIT rebate cash grant announced in Budget 2024. 

• Updated footnote 36 to include Form C-S (Lite), which also does not apply to VCCs.

• Updated the IRAS’ website path in footnote 42. 

The e-Tax Guide has been updated with the following changes:

• Added paragraph 13.2 to highlight that tax over-deducted should only be claimed once by either the trustee/manager of the REIT or as tax credit under section 46(1)(d) by the beneficiary. 
• Added a column “Singapore Tax Reference Number (e.g., UENO, ITR, ASGD), where applicable” in Annex 4.

The e-Tax Guide has been updated with the following changes:

•  Added paragraph 14.2 to highlight that tax over-deducted should only be claimed once by either the trustee/manager of the REIT or as tax credit under section 46(1)(d) by the beneficiary.