All Singapore Business Will Be Required to Have CorpPass from 1 September 2018 Beginning 1 September 2018, it will now be mandatory for all business in Singapore to transact online using a CorpPass Account. The Singapore government announced last year that CorpPass will be the only acceptable login method for businesses who wish to continue…
Details
Changes In Statutory Requirements for AGM and Filing of Annual Return with ACRA Recently, the Accounting and Corporate Regulatory Authority (“ACRA”) of Singapore has announced new changes regarding the statutory requirements of Annual General Meetings (“AGM”) and filing of Annual Returns (“AR”) that will take effect on 31 August 2018. What are the new…
Details
New Rules For Precious Stones and Metals Dealers Singapore has awakened to the risk in precious stones and metals transaction in terms of money laundering and financing terrorism. Recently, the Ministry of Law of Singapore has added one new strategy in its anti-money laundering and counter the financing of terrorism (“AML/CFT”) regime – the new…
Details
CorpPass to Replace EASY 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 authorize any…
Details
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…
Details
Recent Adjustments to 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 quarter of 2017 following…
Details
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 in international trade and global growth. In Singapore, the economy grew by…
Details
Softcopy of Form C in PDF Format Now Available 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. These moves…
Details
Fully Digital iShop@ACRA Delivery Services 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 receive an email with…
Details
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 per cent. Results…
Details