This alert provides an overview of the new reporting requirement and our observations and comments.
The Inland Revenue Authority of Singapore recently updated new content on its website regarding the reporting of income received in Singapore from outside Singapore (foreign-sourced income). With effect from the Year of Assessment 2024, companies are required to provide certain information in their tax computations to facilitate the tracking of the movement of foreign-sourced income.
This alert provides an overview of the new reporting requirement and our observations and comments.
