- IRAS updated e-Tax Guides on record-keeping for businesses on 31 March 2025
- The guide for GST-registered businesses outlines standards for compliance with GST and Income Tax laws
- It applies to companies, partnerships, and government bodies
- The guide for non-GST registered businesses focuses on compliance with Income Tax laws
- Simplified requirements for small businesses were introduced in 2014
- The guide helps non-GST registered businesses prepare records for Income Tax purposes
- Small businesses can choose simplified record-keeping requirements from 1 January 2014
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
