High-Earning Tax Avoiders Under Scrutiny As IRAS Recovers $10m High income earners in Singapore, including property agents, doctors and lawyers, who previously avoided paying their dues in taxes will now have to. So far, $10 million in unpaid taxes has been recovered, and it is still early days yet. More than 20 dentists and doctors…
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Parliament Introduces Changes That Extend Labour Law to Singapore’s PMETs More of Singapore’s workers are set to benefit from protection and better working conditions under the Employment Act’s new proposed changes. The Ministry of Manpower (MOM) Singapore on Tuesday (2 Oct) tabled the Employment (Amendment) Act’s first reading in parliament.This changes will covered all Singapore’s…
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Comprehensive Agreement for Double Taxation Avoidance Signed Between Singapore and Brazil On 7 May 2018, Singapore signed a comprehensive agreement with the Federative Republic of Brazil. The agreement pertained to the Avoidance of Double Taxation (DTA), and the agreement was signed between Singapore’s Minister for Foreign Affairs Dr Vivian Balakrishnan and Brazil’s Minister of Foreign…
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Singapore Food and Beverage Service To Have Unified Payment System Singapore’s Nets system will be bringing cashless payments to 12,000 hawker stalls, canteens and coffee shops. In an attempt to unify what is currently a fragmented e-payment setting, Nets is the first “master acquirer” which will bring this system to the designated vendors in a…
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NRIC Data to Get More Protection with Stricter Rules Singapore’s National Registration Identity Card (NRIC) is about to get a boost in protection from 1 September 2019. New laws in rules in place are set to make it harder to make copies of the NRIC, collect, use or disclose it. These rules are set to…
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An Overview of Singapore’s Labour Market 2018 What the Second Quarter of 2018 Looks Like in Singapore’s Labour Market Singapore has always been a strong performing nation, and 2018 is no different. The second quarter of 2018’s preliminary report of the labour market should positive growth in employment, despite the fact that unemployment rates…
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Singapore Food Agency to Replace AVA The Singapore Food Agency (SFA) will be formed on 1 April next year and it will take over any food-related work which is currently being conducted by the Agri-Food and Veterinary Authority of Singapore (AVA). The SFA is set to oversee matters related to food safety and security in…
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PayNow Corporate Is Finally in Singapore Businesses in Singapore will now be able to instantly receive and make payments with their Unique Entity Numbers (UEN), now that the PayNow Corporate e-payment services have finally been launched. As of 13 August 2018, PayNow Corporate is made available to all businesses, government agencies and corporate bodies whom…
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Rule Changes Make It Easier for SMEs to Bid on Public Projects Small business in Singapore may soon be able to start bidding for government projects with the new changes to the rules in place which make it much easier for small and medium enterprises (SMEs) to get in on the bidding game. SMEs with…
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Singapore Foreign Reserves Gain at $8.5Billion The Monetary Authority of Singapore (MAS) recently announced in it’s annual report that the official foreign reserves (OFR) gained $8.5 bilion for the FY2017/18. According to the MAS, strengthening of the Singapore dollar against the US dollar provided a translated negative effect of $13.8 billion while investment gains…
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