Singapore is the World’s Most Competitive Economy: World Economic Forum Global Economic Competitiveness Report For more than 40 years, the World Economic Forum has been assessing countries’ long-term competitiveness in terms of economic growth and productivity. National competitiveness, as defined by the World Economic Forum (“WEF”), is “the set of institutions, policies, and factors that…
One-Stop Filing Service to Make Things Easier for Charities One-Stop Filing Service Aims to Save Cost for Charities A new one-stop filing service will save 2,000 charities in Singapore administrative costs by filing their annual submission just once. Singapore’s Accounting and Corporate Regulatory Authority (ACRA), the Registry of Societies (ROS) and Commissioner of Charities…
IRAS and DBS Aim to Make Singapore a Cheque-Free Nation by 2025 IRAS and DBS are joining forces to make Singapore a cheque-free nation by the year 2025 as it continues moving closer to its Smart Nation vision. The move to make Singapore a cheque-free nation is in line with the Government’s Smart Nation agenda.…
Singapore and Myanmar Investment Treaty to Handle Investment Disputes A Major Economic Milestone Marks the Start of Greater Investment Opportunities New beginnings are on the horizon with the signing of a new Singapore and Myanmar investment treaty to handle investment disputes. With the signing of the new treaty, Singapore companies based in Myanmar can…
New Enhanced CPF Grant in Singapore To Provide Higher Grants and Wider Selection First-Time Flat Buyers to Enjoy More Options and Higher Grants Singaporeans buying a flat for the first-time will thrilled with the options provided in the new Enhanced CPF Grant (EHG) Singapore. Flat buyers will soon get to choose the location and…
The Simpler It is, the More People Are Using PayNow for Their Online Transactions and Fund Transfers Consumers and customers of today are accustomed to online banking, transactions and fund transfer. Hence, when the national fund transfer PayNow was launched in July 2017 in Singapore, it was a godsend. Ever since then, more PayNow users…
Foreign Domestic Worker (FDW) Levy Concessions Extended in Singapore Concessions to Be Extended From 1 September 2019 The Foreign Domestic Worker (FDW) levy concession will be extended in Singapore beginning 1 September 2019. The extension will include extended family members or friends of those under the FDW employer. However, those who need caregiver assistance…
WIC 2019 Bill to Provide Better Workplace Injury Coverage Employees to Get Wider Coverage and Higher Pay-Outs for Workplace Injuries Singapore’s Ministry of Manpower (MOM) introduced a new Work Injury Compensation Bill (WIC) 2019 to provide better coverage for Singapore employees. The changes introduced by WIC 2019 Bill are meant to improve the system…
Taxes in Singapore at $52.4 billion For FY 2018/19 IRAS Pulls in $52.4 Billion in Taxes, a 4.4% Increase From Last Year It’s a good FY 2018/19 in Singapore, as taxman pulls in $52.4 billion in Singapore taxes amid healthy economic expansion. The Inland Revenue Authority of Singapore (IRAS)’s annual report said this year’s…
CareShield Life Long-Term Disability Insurance Approved Long-term Disability Insurance Soon Compulsory in Singapore In a move to bridge the gap between healthcare and ageing, long-term disability insurance CareShield Life will be compulsory. Singaporeans born in 1980 onwards will be eligible for CareShield Life, which will provide the severely disabled with the basic care they…