Accounting and Corporate Regulatory Authority (ACRA) Takes Company Director To Court For Breaches Of The Companies Act A company director was recently fined $10,000 by the State Courts for lodging false information under Section 401(2A)(b) of the Companies Act. Amiira Samsuri, whose a director of Persian Garden Restaurant Pte Ltd, had earlier authorised a bank…
Singapore GST On Imported Services From Jan 1, 2020 Consumers and businesses who buy imported services from suppliers based overseas which have no establishments in Singapore will have to pay goods and services tax (GST) from Jan 1, 2020 onward. The GST will be levied on two types of services: business-to-business (B2B), such as marketing services, accounting services and IT…
Singapore – Malaysia Trade Link Set to Reap Benefits The proposed link between the Singapore and Malaysia stock markets has the potential to increase securities revenue for the Singapore Exchange (SGX) and likely generate interest, particularly among retail investors. While it is too early to calculate any benefits from, DBS Group Research, said…
Workplace Injuries: Two Employers Fined Two employers were fined in November last year in the State Courts for failing to insure and maintain work injury compensation insurance for their employees. Valiancy Enterprise LLP (‘Valiancy’) and Suriakumar Ridgeway S/O Ramaiah (‘Suriakumar’), the sole proprietor of Ridgeway Marine & Construction, were also fined for failing to pay…
Dear Reader, Welcome to our E-Newsletter February 2018 I hope 2018 is treating you well! 2017 is now in the books. Looking back, the year was marked by volatility. The global economy had its ups and downs and the Singaporean property market experienced significant swings. Despite the challenges, we can see that the Singaporean economy…
Changes to Financial Reporting Standards in Singapore To support Singapore’s corporate governance and financial reporting framework, accounting standards are developed for public interest. To promote public confidence in the standards developed from the process, the accounting standard-setting process must be robust and credible.The Accounting Standards Council (ASC) is responsible for the formulation and promulgation of…
Starting a Business in Singapore Beginning a new adventure in Singapore can be exhilarating. The promise of new beginnings, the chance to live out your dream and build a business empire of your own, exploring your full potential and the possibilities that await you are all part of the exciting journey which comes with starting…
New look for ACRA’s Bizfile+ The Singapore Accounting and Corporate Regulatory Authority (ACRA) recently introduced a new online filing and information retrieval system called BizFile+. The new system allows the public to access a suite of over 400 electronic services ranging from the submission of statutory documents, to retrieval and purchases of information pertaining to business entities…
Singapore’s Per Diem Allowances Update Per diem, which is Latin for “per day” or “for each day” or daily allowance, is a specific amount of money an organisation gives an individual, often an employee, per day to cover living expenses when traveling for work. A per diem can include part or all of the expenses…
3E Accounting – Great Reviews on InCorporate.sg 3E Accounting is happy to announce that we are having great reviews on the corporate service comparison website InCorporate.sg, a company that provides aspiring entrepreneurs with a jumpstart in their startups. Both companies enrich and educate entrepreneurs of the important aspects of business in Singapore to prevent costly mistakes…
Singapore’s Ministry of Manpower (MOM) Seeks Public’s Feedback in Reviewing Areas of Employment Act Singapore’s Ministry of Manpower (MOM) is looking at revising the Employment Act, and it is seeking the public’s opinion on the matter for the areas it is reviewing. Singapore’s Employment Act as was last reviewed in 2012 and the amendments to…
Dear Reader, Welcome to our E-Newsletter January 2018 As we close off 2017, it is good for us to look ahead and think about what this year may bring us. While there may be further challenges ahead (and there is much work to do), we end 2017 stronger and better able to serve our clients…
