THE COVID-19 (TEMPORARY MEASURES) AMENDMENT ACT
The above temporary law was passed in parliament on 7 Apr 2020 due to the urgency and aims to grant temporary relief for six months, and if required may be extended for another 6 months, to those who cannot fulfil contractual obligations, because of the Covid-19 pandemic.
Genuine incorporation or tax avoidance?
Some professionals have been incorporating one or more companies in an attempt to gain tax advantages. For the past few years, high-earning professionals such as doctors and dentists have been in the spotlight as the Inland Revenue Authority of Singapore (IRAS) intensified its investigations to uncover tax avoidance attempts.
GOVERNMENT GRANTS FOR INNOVATION, DIGITISATION, AUTOMATION AND PRODUCTIVITY IMPROVEMENTS
The government has taken initiatives to provide grants on various schemes to SMEs to promote innovation, globalization, digitization, automation and productivity improvements.
Supplementary Budget Support Package 2020
The Government has announced Supplementary Budget Support Packages for both self-employed individuals and companies, which are badly affected during the Covid-19 and the continuous economic contraction.
PAYMENT SERVICES ACT
The Payment Services Act 2019 (“PS Act”) which repeals the Payment Services (Oversight) Act (“PSOA”) and the Money-Changing and Remittance Business Act (“MCRBA”), was brought into force on 28 Jan 2020.
MAINTAINING OF BOOKS OF ACCOUNTS IN SINGAPORE
Every company shall cause to be kept such accounting and other records as willsufficiently explain the transactions and financial position of the company andenable true and fair financial statements.
Singapore’s banking space is entering into a new phase with the introduction of Digital Banks. MAS is planning to issue up to 5 new licenses to applicants, who will add value to banking sector and the economy.
REACHING OUT TO SOCIETY- BOARDROOM TALK
As a social entrepreneur for the past 15 to 20 years, I have managed to maintain a good work-life balance and hope to continue to do so.
GROW YOUR TRUST CAPITAL, MAKE YOURSELF KNOWN
Invest in goodwill and publicise yourself, says R Narayanamohan, CPA Singapore, Chairman, Singapore Indian Chamber of Commerce & Industry, and senior Partner, Natarajan & Swaminathan.
ART IN HEALTH CARE SETTING AND SENIOR CARE CENTRES
Healing art at Singapore General Hospital: 2 months project. Art works created by junior doctors, nurses, patients, and the visiting public to the hospital and helpers who are accompanying the patients for their checkups.
Community Arts Portfolio
Community Rangoli creation for Singapore Night Festival 2019, A DATE WITH TRADITIONAL ARTS on 30th & 31st Aug at Stamfors Art Centre.around 300 to 500 participants and visitors to the Rangoli of 20 feet by 20 diametre and enjoyed in taking part in the creation.
International Marketing Activities Programme (IMAP) Scheme
The International Marketing Activities Programme (iMAP) provides support for companies to access business opportunities when they participate in Trade Association and Chamber (TA/C) led activities.
SGX-listed companies are now required to prepare annual sustainability reports, explaining how they have been fulfilling their ESG (environmental, social and governance) goals.
SINGAPORE FINTECH FESTIVAL 2019
The Fintech festival is successfully running for the past few years and an estimated 60,000 participants from 130 countries will visit the fintech festival during the year from 11th Nov to 15th Nov 2019.
Reduction of Capital – Companies Act (CAP 50) Singapore
After the extensive amendment to the Companies Act, it is easier to go for reduction of capital, without making an application to go to the court to get Court’s order for the reduction of the Company’s share capital
TRANSFER PRICING LANDSCAPE
IRAS applies the internationally endorsed arm’s length principle.
SINGAPORE – A GLOBAL CHOICE FOR BUSINESS OPERATIONS
SINGAPORE – A GLOBAL CHOICE FOR BUSINESS OPERATIONS
SINGAPORE BUSINESS MISSION TO HYDERABAD AND BANGALORE
Mr.R.Narayanamohan has helped many Indian Companies to set up their Regional Offices in Singapore to launch their business in the Asia Pacific Region and other parts of the World.
ARTICLE ON SMALL & MEDIUM ENTERPRISES
With effect from 1st April 2011, if a Singapore registered firm or Company have greater access to government incentives if they have fulfill the SME definition as an eligibility criteria.
PRECIOUS STONES AND PRECIOUS METALS (PREVENTION OF MONEY LAUNDERING AND TERRORISM FINANCING) ACT 2019
The above Act was passed in Parliament and has come into force from w.e.f. 7th March 2019 to regulate persons who carry on business in precious metals.
CERTIFICATION OF DATA PROTECTION SYSTEMS IN THE ORGANISATION
Companies can apply to the Infocomm Media Development Authority (IMDA)…
ONLINE WORKING CAPITAL REQUIREMENT FOR SEM’S
Validus Capital Pte. Ltd. provides an online platform for SMEs to secure short term..
CHANGES IN STATUTORY REQUIREMENTS FOR AGM AND FILING OF ANNUAL RETURNS
The following legislative amendments to the Companies (Amendment) Act will take effect for companies with Financial Year Ending on or after 31st August 2018.
Global Trading Programme
Launched in June 2001, Global Trader Programme (GTP), which encourages global…
Global Investors Programme
As an investor who is interested to start up a business or invest in Singapore, you may…
GUIDELINES FOR NEWLY INCORPORATED COMPANIES IN SINGAPORE
A company shall appoint an auditor within 3 months…
Goods & Service Tax (GST) in India
Lok Sabha, on Monday 8th August 2016, unanimously passed the 122nd Constitutional
Amendment Bill as amended by the Rajya Sabha with all 443 members voting in favour.
How to incorporate a Company in Republic of Singapore and do business with ASEAN, Middle East and African countries
Name Approval –
The name of the Company which you would like to incorporate in Singapore has to be
approved by the Registrar of Companies.
Income Declaration Scheme, 2016- India
Income Declaration Scheme 2016 came into effect from 1 June, 2016.
INDIAN COMPANIES IN SINGAPORE
There are more than 7000 multinational corporations of the world…
Reopen of undisclosed income by tax department, in India for both Resident and Non Resident assessees
As per current Income tax act, Income tax officers (ITO) can reopen…
Indonesia Tax Amnesty
Indonesian parliamentary commission approved a tax amnesty bill, ensuring that the
government’s plan to offer low rates for tax payers who declare untaxed wealth will get into
Mandatory Requirements for 2018 – IFRS convergence, Sustainability and Integrated Reporting
The regulatory landscape for listed companies in Singapore is changing rapidly in both financial
and non-financial reporting.
Registered Agent and Accredited Investors
Banks situated outside of Singapore when they want to lent money to a company in Singapore…
POEM- PLACE OF EFFECTIVE MANAGEMENT-IMPACT ON
Residential status for companies – change in definition…
Write up on forming a Foreign Branch vs wholly owned subsidiary in Singapore
A Company can run business outside India (in Singapore) either by way of setting up a branch
office (BO), starting a wholly owned subsidiary company (WOS).
Skill Development Levy
CPF board called Skill Development Levy on behalf of Singapore Work Force Development
Agency (WIDA).Under the act SDL is payable to all the employees of the company. All
the employees are defined as “Employees include…