Enterprise Innovation Scheme (EIS) Budget 2026 Tax Incentives for Innovation & AI Adoption
Enterprise Innovation Scheme (EIS) Budget 2026 Tax Incentives for Innovation & AI Adoption The Enterprise Innovation Scheme (EIS) is Singapore’s flagship tax incentive designed to encourage businesses to invest in innovation, digitalisation, workforce capability development, and artificial intelligence (AI). Enhanced under Singapore Budget 2026, the scheme allows companies to significantly reduce tax costs while accelerating…
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Paul Wan & Co
GST InvoiceNow Requirement in Singapore (2025–2031): What Businesses Need to Know
GST InvoiceNow Requirement in Singapore (2025–2031): What Businesses Need to Know What is the GST InvoiceNow Requirement? The Inland Revenue Authority of Singapore (IRAS) is introducing the GST InvoiceNow Requirement as part of Singapore’s initiative to digitalise tax administration and improve compliance. InvoiceNow is Singapore’s nationwide e‑invoicing network based on the Peppol standard, launched by…
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Paul Wan & Co
What is VAT and How Does It Work in Singapore?
Value-Added Tax (VAT) is a type of indirect tax collected on the value of goods and services consumed by individuals and businesses to alleviate the effect of direct taxes such as income tax. In Singapore, VAT is known as Goods and Services Tax (GST) and it is applied to most of the products and services,…
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Tax Dept
Singapore Tax Guide: Check a Company’s GST Registration Number
By Singaporean legislation, a GST registered company may claim back GST incurred on business expenses and file quarterly GST returns to the Inland Revenue Authority of Singapore (IRAS). Goods and Services Tax or GST is a broad-based consumption tax charged in addition to the price of imported products, as well as a wide-ranging category of…
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Tax Dept
Singapore Tax Guide: Acquiring a GST Registration Number
As per Singaporean legislation, individuals and companies are required to file annual income tax returns to the Inland Revenue Authority of Singapore (IRAS). Companies that apply for GST are given a GST registration number for identification purposes. GST registered companies may then file tax claims for business expenses as well as submit quarterly GST returns…
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