CAP for CIT Rebates Raised

CAP for CIT Rebates Raised Singapore’s Minister of Finance, Heng Swee Keat announced in Budget 2018 that the cap for the Corporate income Tax (CIT) Rebate for YA 2018 will be raised to 40% of the corporate tax payable subject to a cap of $15,000. This is an increase from the previously announced rebate of 20% of…

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Importance Of Informing ACRA / IRAS On Changes

Importance Of Informing ACRA / IRAS On Changes All company owners in Singapore are advised to file any change of name or office address with the Accounting and Corporate Regulatory Authority (ACRA) immediately. This can be done online via www.bizfile.gov.sg/ There is no need to inform or update IRAS separately of the change in name or address. IRAS will update…

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Accounting Standards Council Singapore (ASC) Issues New Amendments

Accounting Standards Council Singapore (ASC) Issues New Amendments The Accounting Standards Council Singapore (ASC) recently issued several amendments to the Singapore Financial Reporting Standards (International) (SFRS(I)s) and Financial Reporting Standards (FRSs). These include annual improvements to SFRS(I)s 2015-2017 Cycle, effective for annual reporting periods beginning on or after 1 January 2019; and improvements to FRSs (March 2018), effective…

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CPTPP Signed To Lower Trade Barriers Across The Region

CPTPP Signed To Lower Trade Barriers Across The Region In view of increasing protectionism, ministers from 11 countries recently signed a revised Trans-Pacific Partnership. The signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which took place in Chile signals a commitment to lower barriers to trade across the region. The CPTPP also…

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