Singapore IRAS Newsroom

Singapore-Taipei Tax Agreement Enters Force, Lowers Withholding Tax

Singapore and Taipei have entered into a new tax agreement that lowers withholding tax rates on cross-border income flows. This agreement, effective February 13, 2026, replaces a 1982 agreement and aims to enhance bilateral trade and investment.

Mandatory GST InvoiceNow for All Businesses by April 2031

Singapore's Inland Revenue Authority (IRAS) will mandate all GST-registered businesses to use the InvoiceNow e-invoicing network by April 2031. This phased rollout, starting April 2028, aims to increase productivity and improve tax compliance through digital invoice submission. Transitional funding will be provided to offset onboarding costs.

Singapore Cambodia Double Taxation Agreement Protocol Enters Force

Singapore and Cambodia's Second Protocol to their Double Taxation Agreement has entered into force on March 6, 2026. The protocol amends the agreement to incorporate Base Erosion and Profit Shifting standards and includes a new Article 28 on Entitlement of Benefits.

Singapore IRAS: Direct Tax Bills for 1 Million Taxpayers

The Inland Revenue Authority of Singapore (IRAS) will issue direct tax bills to approximately 1 million taxpayers starting mid-March 2026 under the Direct Notice of Assessment initiative. This aims to simplify the tax process for most individuals, who will no longer need to file a tax return. The notice also highlights that over $5 million in penalties were collected for late and non-payment for the previous tax year.

IRAS Raids Over 20 Locations for GST Refund Fraud

The Inland Revenue Authority of Singapore (IRAS) conducted island-wide raids at over 20 locations, arresting one suspect and seizing evidence related to suspected Goods and Services Tax (GST) refund fraud. The operation targeted schemes involving fictitious purchases and inflated transactions, with businesses across Logistics and Wholesale Trade identified.