GOODS AND SERVICES TAX (GST) – Launch of GST Bulletin Issue 11 IRAS are pleased to inform you that a new issue of the bi-annual GST Bulletin has been released. The GST Bulletin features bite-sized information on recent changes in GST law and GST treatment on issues commonly faced by GST-registered businesses. Some key topics…
Update on BizFile+ – Extension of Filing Time and No Imposition of Filing Penalties ACRA will be extending the time to file AR, Annual Declarations, Business Registration Renewals and any statutorily required filings which are due between 26 Dec 15 to 31 Jan 16, to 2 Feb 16. For more information, please view Update on…
Changes to CPF Contribution Rates and Wage Ceilings from 1 January 2016 The CPF contribution rates for employees aged above 50 to 65 years will be increased for wages earned from 1 January 2016 to help them save more for their retirement needs. Find out more about the new CPF contribution rates. To keep pace with income…
Highlights of ACRA New Filing Requirements for Companies effective 3 Jan 2016 ACRA has revamp its online business filing and information portal (“BizFile”). The enhanced system, Bizfile+ , will launch on 3 Jan 2016. As announced on 5 Nov 2015, Bizfile will undergo system migration to transition to Bizfile+. You may wish to note that:…
Corporate Tax Filing Season 2015: 3 Filing Mistakes Companies Should Avoid As companies prepare to e-File their income tax returns by 15 Dec 2015 (or 30 Nov 2015 if they paper file), IRAS would like to highlight three common mistakes so that companies can avoid them1. Compliance Reviews and Guides to Help Companies File Correctly…
Financial Reporting Practice Guidance No.2 of 2015 ACRA has issued Practice Guidance No. 2 of 2015 which highlights the ten areas of review focus under the Financial Reporting Surveillance Programme (FRSP) for FY2015 Financial Statements. The practice guidance serves to guide directors and other financial statements preparers on some of the areas of potential misstatements…
Singapore 2016 Budget Statement to be Delivered on 24 March 2016 Minister for Finance, Mr Heng Swee Keat, will deliver Singapore’s FY2016 Budget Statement in Parliament on Thursday, 24 March 2016. Prime Minister Lee Hsien Loong had indicated in September 2015, in conjunction with the announcement of the new Cabinet, that Budget 2016 would be…
Singapore Labour Market Report Third Quarter 2015 by MOM The seasonally adjusted overall unemployment rate in September 2015 remained low at 2.0%. Unemployment rose to 3.0% for residents and 3.1% for citizens amid softer economic conditions. Total employment grew by 12,600 in the third quarter of 2015, down from an increase of 33,400 in the…
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