Singapore Tax Rate and Incentives for Personal Tax and Corporate Tax in 2019 Singapore provides its residents with the privilege of one of the lowest tax rates in the world. Be it personal income tax or the corporate duty, people in the city-state pay a lot less than civilians in other nations. Today, we talk…
The Procedure for applying for an Employment Pass in Singapore An Employment Pass allows foreigners to stay and work in Singapore. This pass to be is issued by Singapore Ministry of Manpower (“MOM”) to foreign professionals with job offer in Singapore. Minimum Criteria for a Singapore Employment Pass An individual must fulfill the following…
Dear Valued Clients, Welcome to our E-Newsletter June 2019 We hope this email finds you well! Last few months were the challenging period for the global economy in terms of the external environment. The recent flare-up over trade between China and US, the geopolitical tension, as well as the delay in Brexit until Oct 31…
Structured Training for Staff in Singapore – The Way for More Growth and Productivity Employers in Singapore are being urged by the National Wages Council (NWC) to provide more structured training for their staff. NWC believes that structured training for staff in Singapore is the way forward if an employer wants to see more growth…
Labour Market Report Advance Release 1Q 2019 – An Overview on Employment Rates and Retrenchments Regardless of the indication of the economy facing a little turbulence in 2019, initial readings indicate that the market is still standing strong. Employment rates were going up whilst retrenchments remain unchanged. However, employment rates amongst residents went up as…
Singapore’s Real Total Wages in 2019 Might Not Be as Optimistic as Last Year While Singapore’s employment scene faced strong growth in 2018, upping the real wages to 4.2% last year, Real total wages in 2019’s prospects might not be as promising. Economists are predicting a less than optimistic outcome for Singapore’s labour market in…
Preparing and Filing Financial Statements Becomes Manageable With Standard Format Enhancements Made Available Corporate companies now can file their financial statements better with new XBRL updates released by the BizFinx preparation tool. Most companies doing business in Singapore are required to file their financial statements and submit them to the Accounting & Corporate Regulatory Authority…
Upgraded China-Singapore Free Trade Agreement Provides Expanded Market Access to China On 12 November 2018, China and Singapore inked a deal to upgrade their bilateral free trade (FTA) agreement and expand the scope of the China-Singapore Free Trade Agreement (CSFTA), potentially deepening trade and investment between the two countries. The upgrade is poised to provide…
Contactless Card Payments (SimplyGo System) Available in Singapore from June for Trains and Buses Singapore commuters will be able to pay for their public transportation on buses and trains using their contactless credit cards or mobile phones with the SimplyGo system from 6 June. Singapore’s Land Transport Authority (LTA) has expanded their SimplyGo system to…
Know the Reasons for Business Fail Everyone dreaming about owning a business would seldom see how they could fail. Every second of their life they think that their business fails proof and thus begin living that idea in its entirety. Being able to come up with a unique business idea is what most people would…
The Labour Movement Is Concerned About How Will Workers Face the Fourth Industrial Revolution After the third industrial revolution, workers have been doing jobs more or less the same way, albeit with the advent of computerisation. For many, computerisation was thought to be the peak of modernisation. Yet, here we are today facing another industrial…
Foreign Workers From Other Industries Joins Orientation Programme – Help Them Adapt to Living and Working in Singapore Since October 2018, the Ministry of Manpower (MOM) has appointed Migrant Workers Centre (MWC) to conduct SIP for first time non-Malaysian foreign workers in the Construction sector. The SIP began in October 2018 and ended in March…