Further extension of time for private companies to update shareholder information In December 2015, ACRA announced that it would be maintaining the registers of members for private companies setup in electronic form (EROM) from 3 Jan 2016 onwards. Private companies were required to update shareholder information that will be recorded in the EROM. These companies…
Updates from ASC – ASC has issued Amendments to FRS 115 ASC has issued Amendments to FRS 115: Clarifications to FRS 115 Revenue from Contracts with Customers. Please visit Financial Reporting Standards Changes effective for annual periods beginning after 1 January 2016 for information. Related link Preparation of financial statements
Clarification on When Tax Clearance is Not Required in Singapore Tax clearance is where the employer ensures that a non-Singapore Citizen employee who ceases employment in Singapore or plans to leave Singapore for more than three months pays all his taxes. As an employer, it is your responsibility to notify IRAS and seek tax clearance…
Singapore Tripartite Guidelines on Managing Excess Manpower and Responsible Retrenchment The Singapore economy is highly exposed to global trends and companies often find that they have to restructure to stay competitive. As businesses adjust, they should consider alternative ways of managing their excess manpower such as upskilling employees and redesigning jobs. However, if retrenchment is…
Dear Reader, Welcome to our E-Newsletter June 2016 We are glad to present you our newsletter for June 2016. For new updates and developments, stay tune with us and refer to the details in our newsletters. Thank you. Lawrence Chai Managing Director Read More in our E-Newletters June 2016.
Singapore and Cambodia Sign Agreement for Avoidance of Double Taxation (DTA) Singapore and Cambodia signed an Agreement for the Avoidance of Double Taxation (DTA) on 20 May 2016. The signing took place in Singapore between Ms Indranee Rajah, Senior Minister of State for Law and Finance, and Dr. Aun Pornmoniroth, Cambodia’s Senior Minister of Economy…
Latest BizFinx Preparation Tool Released The latest version (v.2.4.0) of the BizFinx preparation tool which includes support for Microsoft Office 2016, is now available for download at BizFinx website. The updated version also incorporates bug fixes and enhancements. Please click here for more details. All preparers are encouraged to upgrade to this updated version 2.4.0,…
Tripartite Guidelines on Re-employment of Older Employees Revised and WorkPro Schemes Enhanced The Ministry of Manpower (MOM) announced at the Committee of Supply Debate on 8 April 2016 that the re-employment age will be raised from 65 to 67 on 1 July 2017. To prepare employers and employees for this change in the re-employment landscape,…
Lawrence Chai, the managing director of the leading Singaporean company 3E Accounting Pte Ltd and the youngest TAFEP Exemplary Employer Award Winner shares the secrets on how he keeps his employees happy, live on Capital 95.8 FM. Established in 2011, with revenues exceeding over $3 million, ranked among the top 30 Singaporean accounting firms and…
3E Accounting Was Ranked Second in the Category of the Top 5 E-filing Tax Agent Firms With the Most Improved C-S/C E-filing Rate in Ya 2015. The e-Filing of form C-S in Year of Assessment was introduced by IRAS in 2012 for small companies. SINGAPORE, April 29, 2016 – Offering a diverse range of services…
Dear Reader, Welcome to our E-Newsletter May 2016 We are glad to present you our newsletter for May 2016. In this issue, we wish to share with you on our excitement of being the 1st Accounting Firm in Singapore to embark on yet another innovative path. On 1 April 2016, 3E Accounting Pte. Ltd. became the…
Dear Reader, Welcome to our E-Newsletter April 2016 We are glad to present you our newsletter for April 2016. In this issue, we would like to give some highlights to the recent most talked about business topic: Singapore Budget 2016 Budget speech, which was a business-minded one, was being made in Parliament recently. Accordingly, for the…