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Advance Ruling from Singapore Tax Authority

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  • Advance Ruling from Singapore Tax Authority

    Given the costs, what are the factors one should consider before asking for an advance ruling from the Singapore Tax Authority, IRAS?

  • #2
    Re: Advance Ruling from Singapore Tax Authority

    Some of the factors to be considered are:
    1. Whether the information has been supplied within time frame provided by CGST when it demands additional information.
    2. The matter involves any opinion of CGST regarding commercial practice or accounting principle.
    3. The subject matter is subject to an objection or appeal, whether in relation to you or any other person.
    4. The ruling depends on the making of assumptions in respect of any future event or other matter.
    5. Whether the assessment (excluding an assessment of any estimated tax) which relates to you, the arrangement, and the period for which the proposed ruling will be applicable has been made, unless the application is received by the CGST before the date of assessment is made.
    6. Generally in the opinion of CGST, you are not seriously contemplating the arrangement for which the ruling is sought or that the application is frivolous.
    7. The matter regarding which the advance ruling is being asked for involves the interpretation of a foreign law.



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