Digital Payment Service Providers to Be Streamlined in Singapore Singapore is moving to streamline all digital payment service providers who currently fall outside the regulatory schemes. These providers are set to be licensed under a new regime, under the new proposed Payment Services Bill. In a bid to safeguard consumers’ money, boost cyber-security measures and…
Singapore Workers Enjoy Greater Protection, Thanks to Employment Act Changes Singapore’s labor workforce will enjoy greater protection, thanks to the latest changes and major transformation to the Employment Act. The changes will now entitle Singapore’s labor force to new rights, which include mandatory annual leave of seven to 14 days, paid sick leave and protection…
More Responsibilities for Housing Developers to Prevent Money Laundering Singapore’s housing developers will have new rules, duties and responsibilities under a Bill which was passed in Parliament recently. These and other proposed changes to the Developers (Anti-Money Laundering and Terrorism Financing) Bill are part of Singapore’s efforts to remain in line with the international standards…
Singapore Still in Second Place Behind New Zealand for Ease of Doing Business No doubt Singapore is an island full of possibilities and opportunities for the savvy investor to capitalize on. However, there is one thing that Singapore still needs to work on to become number one in the ease of doing business – making…
Energy is Singapore’s Next Big Challenge to Overcome at the Next 50 Years Singapore is no stranger to overcoming adversity. The past 50 years has seen the country triumphantly overcoming its water shortage, while the next 50 years is going to be about a new challenge entirely – how it overcomes the energy challenges. The…
International Standards on Exchange of Information Rates Singapore as Overall Compliant The Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) has rated Singapore’s exchange of information upon request regime as being overall compliant with international tax transparency standards. This assessment is conducted via a peer review process of Singapore’s exchange…
SingPass Mobile App’s Biometric Security Features Offer a Glimpse of Future of Digital Exploration Singaporeans can now access e-government services using a new app is which uses biometric scanning is available for Singaporeans. To do so, all they would have to do is scan using either their fingerprint or faces through their smartphones. Without relying…
Singapore 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…
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…
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…
