Setting Up an Offshore Company in Singapore

Setting Up an Offshore Company in Singapore

Setting Up an Offshore Company in Singapore An offshore company is a company that incorporated in a jurisdiction other than the jurisdiction that constitutes its main place of operations or where the company’s principal investors reside. In other words, offshore simply means a jurisdiction other than your own. Some of the advantages when incorporating an…

Filing Annual Returns with ACRA

Filing Annual Returns with ACRA

Filing Annual Returns with ACRA All Singapore company incorporated are required to hold their Annual General Meeting (AGM) and file Annual Returns under S175, S197 and S201 of the Companies Act. Directors shall present the true and fair view of the company’s account to their shareholders at the AGM. For the Annual General Meeting (AGM),…

Central Provident Fund (CPF), the Comprehensive Social Security Savings Scheme

Central Provident Fund (CPF), the Comprehensive Social Security Savings Scheme

Central Provident Fund (CPF), the Comprehensive Social Security Savings Scheme Assurance in old ages includes three key considerations that are healthcare, retirement and housing. The Central Provident Fund or also known as CPF, is the key pillar of the Singapore’s comprehensive social system that enables working Singapore Citizens and Permanent Residents to set aside funds…

3E Accounting Newsletter

E-Newsletter December 2016

Dear Reader, Welcome to our E-Newsletter December 2016 Merry Christmas and Happy Holiday! We are glad to present you our newsletter for December. What’s new and exciting this month? Ready to Support In this issue of newsletter, we are glad to share with you that we are now one step further into our expansion quest…

New Requirement on Mandatory Retrenchment Notifications From 1 January 2017

Mandatory retrenchment notifications from 1 January 2017

New Requirement on Mandatory Retrenchment Notifications From 1 January 2017 A new requirement on mandatory retrenchment notifications will take effect from 1 January 2017. The tripartite partners have issued an advisory to guide employers on complying with this requirement. Under the Workforce Singapore Agency Act, employers will need to notify the Ministry of Manpower (MOM)…

Singapore-Laos Avoidance of Double Taxation Agreement Enter Into Force (DTA) 

Singapore-Laos Avoidance of Double Taxation Agreement Enter Into Force

Singapore-Laos Avoidance of Double Taxation Agreement Enter Into Force (DTA)  The new Singapore-Laos People’s Democratic Republic Avoidance of Double Taxation Agreement (DTA) entered into force on 11 November 2016. The DTA provides clarity on tax matters and eliminates double taxation relating to cross-border transactions between the two countries. The full text of the DTA is…

Transfer Pricing Administration

Transfer Pricing Administration

Transfer Pricing Administration From Year of Assessment (YA) 2018, taxpayers must report certain details of related party transactions (RPT) if the value of RPT in the audited accounts for the financial year exceeds $15,000,000. The Form for Reporting Related Party Transactions should be submitted together with the submission of Form C. The RPT data will…

Conditions of Employment

Conditions of Employment 2016

Conditions of Employment 2016 Greater adoption of work-life initiatives by employers More employers are providing ad-hoc flexible work arrangements and leave benefits to help employees cope with personal and family commitments.  Firms that implement work-life initiatives tend to have lower employee turnover. These are the key findings from the “Conditions of Employment 2016” report released…

Changes in SSIC code for Business Activity for some Business Entities

Changes in SSIC code for Business Activity for some Business Entities

Changes in SSIC code for Business Activity for some Business Entities Due to changes in the Singapore Standard Industrial Classification (SSIC) issued by the Department of Statistics, the SSIC code for the business activity of some business entities will change. SSIC 2015 incorporates recent changes in economic activities to better reflect the current structure of…