Dear Reader, Welcome to our E-Newsletter February 2016 We are glad to present you our newsletter for February 2016. For new updates and developments, stay tune with us and refer to the details in our newsletters. Lawrence Chai Managing Director Read More in our E-Newletters February 2016.
Updates from ASC – ASC Publishes the 2016 Volume of FRSs and INT FRSs ASC publishes the 2016 volume of FRSs and INT FRSs. Financial Reporting Standards (FRSs) refer to Financial Reporting Standards and Interpretations of Financial Reporting Standards issued by the ASC. FRSs issued by the ASC are published for your own personal non-commercial…
Singapore Keeps No. 2 Position in Global Talent Index for the Third Straight Year Singapore has been ranked the world’s second-most talent-competitive country for the third straight year, behind Switzerland. This makes it the only Asian country in the top 10 of the Global Talent Competitiveness Index compiled by the business school Insead. The annual…
Wage Credit Scheme Payouts for 2016 Employers are reminded to make CPF Contributions for employees by 14 Jan 2016 to receive Wage Credit Scheme payouts Employers of eligible Singaporean employees are reminded to make the full CPF contributions for these employees by 14 January 2016 in order to receive the third tranche of Wage Credit…
Singapore-Luxembourg Avoidance of Double Taxation Agreement Enter Into Force The revised Singapore-Luxembourg Avoidance of Double Taxation Agreement (DTA) entered into force on 28 December 2015. The revised DTA lowers the withholding tax rates for dividends, interest and royalties, lengthens the period test for determining permanent establishments as well as provides a more mutually favourable tax…
Tax duty refers to the legal documents that pertain to the transmission of assets. This task is customary in countries that are included in the Commonwealth of Nations such as Singapore, the US and Australia. When a stamp duty is enforced, the tax is allocated on the reassignment of the property such as homes, buildings,…
A company in Singapore can be completely owned by a foreign one and will also be considered a separate legal body. The liability of the parent company is only limited to its share capital in the organization along with the assets which are safe from debts and obligations. In addition, the child company will be…
Also called a lease, CAM and Escalation Expense Audit, a rental audit refers to the inspection and analysis of commitments and rights such as lease reviews. It is a pretty systematic process and involves the examination of involved documents, the interpretation of the language used and the measurement of the space involved. If you want…
GOODS AND SERVICES TAX (GST) – Launch of GST Bulletin Issue 11 IRAS are pleased to inform you that a new issue of the bi-annual GST Bulletin has been released. The GST Bulletin features bite-sized information on recent changes in GST law and GST treatment on issues commonly faced by GST-registered businesses. Some key topics…
Ecommerce is one of the fastest growing industries in the world and none more so than in Singapore. However, even though starting one can increase your success rate in the country, most people do not realize that it takes more than just setting up a payment portal and website. A significant amount of preplanning, market…
Update on BizFile+ – Extension of Filing Time and No Imposition of Filing Penalties ACRA will be extending the time to file AR, Annual Declarations, Business Registration Renewals and any statutorily required filings which are due between 26 Dec 15 to 31 Jan 16, to 2 Feb 16. For more information, please view Update on…
Why you should get an Accredited Accountant for your business Do you own a small but growing business the financial challenges of which are getting too much to handle? Then you need a second pair of hands in the form of an accredited accountant on staff who can handle those numbers, giving you time to…