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2 months ago
Singapore Under the New Normal
–By Roshan Sageer As the world continues to battle the Covid-19 pandemic, Singapore went into a broad lockdown by adopting multi-pronged precautionary measures under the moniker “circuit breaker” for a period of two months from April to May. During this period, the Singapore Government announced a slew of monitory reliefs and budgetary measures to sustain […]
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2 months ago
Recent Tax Changes Proposed in Singapore’s Budget 2020
-By Audrey Ong Deputy Prime Minister and Minister for Finance, Mr. Heng Swee Keat introduced tax changes in his Budget Statement for the Financial Year 2020. Income tax in Singapore is calculated on the preceding year. For example, income of a company with a financial year ending on 30 June 2019, will be taxed in […]
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2 months ago
GST on Imported Services
Starting 1st January 2020, consumers and businesses who buy imported services from overseas suppliers with no establishment in Singapore will have to pay goods and services tax (GST). This change does not apply to goods purchased online from overseas suppliers. The current GST-free threshold of $400 and below will continue to apply to the goods imported into Singapore (excluding intoxicating […]
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2 months ago
Singapore Accounting Standards
Accounting standards are developed in the public interest to support a country’s corporate governance and financial reporting framework. This extends to most parts of the world in order to help a country maintain financial order. The International Accounting Standards Board (IASB) is an independent, accounting standard-setting body of the International Financial Reporting Standards (IFRS) Foundation […]
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2 months ago
Mergers and Acquisitions
Benefits of Mergers and Acquisitions – Is It Time for Your Business? With unpredictable market behaviour these days, how a business performs is unknown. As such, mergers and acquisition are a common and frequent occurrence. Mergers and acquisitions help you to get quality staff or additional skills. When a merger takes place, two separate companies […]
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