Ministry of Manpower: Better Pay for Private Sector Employees More private sector workers in Singapore took home much better pay cheques than what they did in 2016, said the Ministry of Manpower. According to reports, their real wages saw a 3.2 per cent growth, which is the slowest since 2013 when it was at 2.9…
Singapore Combats Money Laundering & Financial Crime with Best Practice Papers To help financial institutions protect against trade-based money laundering, the Anti-Money Laundering and Countering the Financing of Terrorism Industry Partnership (ACIP) in Singapore released two best practice papers to guard against the misuse of company structures for illicit purposes. The two best practice papers…
All You Need to Know about Europe General Data Protection Regulation (GDPR) and Its Impact to Singapore Companies General Data Protection Regulation (GDPR) is the new data protection law in Europe that came into effect in May 2018. It has reshaped the data protection landscape for businesses across Europe and worldwide. GDPR replaces the Data…
Dear Valued Clients, Welcome to our E-Newsletter June 2018 We kicked off 2018 in full force, and we are going to keep up with the growing momentum in June, and even the months after this. Before we turn the page to the month of June 2018, I would like personally to update you on what…
What is CPF and How You Can Withdraw Your CPF in Singapore? The time has come. You’ve reached the age of 55 and are about to withdraw your CPF savings. Wait just a moment though, because before you set out to do that, here’s what you need to understand about withdrawing from your CPF in…
ACRA Make Some Changes for Better Efficiency Beginning June 1, 2018, all customers who want to visit the Accounting and Corporate Regulatory Authority’s (ACRA) service counters will be required to book an appointment. According to the ACRA website, this can be done via the e-appointment system at least 3 working days in advance. By using the e-appointment system,…
Top 10 Best Places to Visit in Singapore for Tourists There are various places to visit in Singapore. From a budget trip to a luxury shopping spree, the city-state continues to woo tourists with its family-friendly attractions and world-famous tourist spots. The cultural and historical attractions charm every traveller in the country. Needless to say,…
CAP for Corporate Income Tax (CIT) Rebates Raised Singapore’s Minister of Finance, Heng Swee Keat announced in Budget 2018 that the cap for the Corporate income Tax (CIT) Rebate for YA 2018 will be raised to 40% of the corporate tax payable subject to a cap of $15,000. This is an increase from the previously announced rebate…
Dear Valued Clients, Welcome to our E-Newsletter May 2018 In the recent Monetary Authority of Singapore (MAS)’s half-yearly macroeconomic review, Singapore’s economic outlook remains positive despite global trade risks. The review has actually supported MAS’s decision to tighten monetary policy for the first time in six years. Also, it was announced that (based on advance…
Importance Of Informing ACRA / IRAS On Changes – Company Owners Must Know All company owners in Singapore are advised to file any change of name or office address with the Accounting and Corporate Regulatory Authority (ACRA) immediately. This can be done online via ACRA Bizfile. There is no need to inform or update IRAS separately of the change in…
New Amendments to the Implementation of Section 121 of the Companies Act 2014 As of 20th April 2018, Section 121 of the Companies (Amendment) Act 2014 took effect, and with those changes comes the introduction of new sections 202A and 202B of the Companies Act. These regulations have successfully come into effect, and concurrently, the…
Public Holidays in Singapore for 2019 The Ministry of Manpower Singapore has released the dates of the upcoming 2019 public holidays happening in Singapore. These dates may be modified if official changes are announced. Singapore Public Holiday 2019 Dates Singapore Long Weekends Holiday for 2019 Singapore Working Day for 2019 Singapore Day Numbers for 2019…