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 the IRAS and What Are Its Primary Roles?
The Inland Revenue Authority of Singapore (IRAS) is the institution in charge of collecting taxes from the nation’s citizens and businesses. Its history can be traced back to 1947 when the Singapore Income Tax Department started its operations as part of that year’s Income Tax Ordinance. Since then, the institution has evolved until it was…
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Tax Dept
Tax Guide: Singapore Tax Identification Number
A Tax Identification Number (TIN) is a unique set of numbers specifically assigned to an individual or organization to create a “fingerprint” that can facilitate their identification for the government and its agencies. In Singapore, individuals are assigned a Tax Reference Number issued by the Inland Revenue Authority of Singapore (IRAS) and businesses and other…
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Tax Dept
IRAS Portal Guide: How to login to the myTax Portal
The Inland Revenue Authority of Singapore (IRAS) has a dedicated IRAS login portal for individuals or corporations to perform various tax e-services online. Individuals are required to file annual income tax returns to (IRAS) and pay income tax at the prevailing Singapore personal IRAS income tax rate charged on chargeable income. Companies are also required…
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