Monetary Authority of Singapore (MAS) Speeding up its Fight Against Money Laundering and Terrorism The Monetary Authority of Singapore (MAS) says regulators in Singapore are looking to increase the measures in place currently targeted at fighting financial crime. Money Laundering and terrorism financing have been a huge concern these days. MAS plans to make these…
CorpPass to Replace EASY in Singapore by 1 September 2018 From 1 September 2018, CorpPass will be replacing EASY as the new authorization system. All businesses will be required to use CorpPass as of the next Q3 for any transactions completed with IRAS (Inland Revenue Authority Singapore). This new system will also be used to…
Singapore’s Shipping Centre Comes Top in the World Rankings in 2018 For the past four years, Singapore shipping has been considered as one of the best shipping centres in the world, according to a study done by the Baltic Exchange and Xinhua. Once again in 2018, Singapore comes out on top in the rankings, performing…
Co-location of ACRA’s Service Counter at Revenue House commencing 3 Sep 2018 In order to make Singaporean’s dealings with government bodies easier via improved efficiency and coordinated services, ACRA’s service counter will be co-located at the Taxpayer Service Centre at Revenue House together with service counters of IRAS, SME Centre, and CorpPass from 3 September…
Government Introduces New Schemes To Assist The Disabled in 2020 From 2020 onward, individuals aged 30 and above who are severely disabled will be able to withdraw cash from their Medisave accounts. This is provided they or their spouse have at least $5,000 in their accounts. The larger the amount in their accounts, the more…
Recent Adjustments to Additional Buyer’s Stamp Duty (ABSD) Rates To keep price hikes in line with economic fundamentals in Singapore, the government recently announced adjustments to the Additional Buyer’s Stamp Duty (ABSD) rates and Loan to Value (LTV) limits on residential property purchases. According to reports, private residential property prices began rising in the third…
Singapore New National Wages Council 2018 / 2019 Guidelines Introduced Backed by higher growth in the United States and some emerging markets, global growth is expected to pick up in 2018. However, due to concerns over protectionist actions and trade tensions, there could be negative effects on international trade and global growth. In Singapore, the…
Dear Valued Clients, Welcome to our E-Newsletter July 2018 We hope this email finds you well! As we are entering another quarter of the year 2018, we can be pleased with the many achievements Singapore has achieved, and as we move forward, we can rest assured that the strong economic performance in the past that…
Softcopy of Form C in PDF Format Available in Singapore Now! The softcopy of Form C in PDF Format, e-Services for Online Form C and Form C (Upload) for Year of Assessment (YA) 2018 are now available online at the Inland Revenue Authority of Singapore (IRAS) website. You can now start your e-Filing today.…
Fully Digital iShop@ACRA Delivery Services From June 1, 2018 Since June 1, 2018, all business information products purchased from iShop@ACRA can only be done online via email. The Accounting and Corporate Regulatory Authority said following this move, the waiting period for customers has been greatly reduced. Following successful payment, all customers who purchase business information products will…
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…