21 August 2015

The Inland Revenue Authority of Singapore (IRAS) has updated its website FAQ under “Property Developers” on the deductibility of sales commissions incurred by property developers.

IRAS clarified that since sales commissions are direct expenses incurred in respect of specific units sold, the sales commissions are hence deductible in the Year of Assessment in which the sales proceeds of those specified units are taxed.

The update was made on 14 August 2015.

Source: IRAS