Welcome to our September 2013 e-newsletter.
PART 1 TAXATION
The Singapore Institute of Accredited Tax Professionals (SIATP) has issued the new Tax Alerts on its website Tax News since the previous issue of the 3E E-Newsletter.
The few key alerts are highlighted as below:
> Updated Tax Statistics YA2003 – YA2013 (27 Aug 2013)
> The Protocol to the standing Agreement for DTA between Singapore and Belgium (21 Aug 2013)
PART 2 REGULATORY & BUSINESS
Three-year waiting period for PRs to buy resale flats
Newly-minted Singapore permanent residents will now have to wait three years before buying a resale public flat, instead of straightaway after they become PRs.
Changes to EntrePass Framework
From 1 September 2013, in line with MOM’s overall direction in raising the quality profile of our foreign workforce, changes will be made to the EntrePass framework. This is to ensure that we attract foreign entrepreneurs who can inject innovation and vibrancy into Singapore’s business scene, and contribute to local employment.
These changes will apply to new EntrePass applications submitted from 1 September 2013. Existing EntrePass holders will be given up to one year from 1 September 2013 or the date of their next renewal, whichever is later, to meet the revised criteria. For more information, you may refer to web site at Singapore Entrepass.
PART 3 FINANCIAL REPORTING
Companies Urged to Raise Financial Reporting Quality
ACRA holds its annual flagship event – the Public Accountants Conference (PAC) today. This year’s conference extends beyond auditing and focuses on how to improve the quality of financial reporting in companies. Over 800 delegates convene at the conference to discuss key challenges affecting the delivery of high quality financial reporting to investors and the rest of the business community