Dear Reader, Welcome to our E-Newsletter December 2016 Merry Christmas and Happy Holiday! We are glad to present you our newsletter for December. What’s new and exciting this month? Ready to Support In this issue of newsletter, we are glad to share with you that we are now one step further into our expansion quest…
How MBMF Helps The Muslim Community Grow in Singapore In the 1970s, Singapore’s rapid development led to Muslims being resettled in HDB flats. These new estates needed mosques, but traditional fundraising methods weren’t effective. A system was devised to efficiently raise money from Muslim workers through the Central Provident Fund Board’s collection system, also known…
What Do You Know about Skill Development Levy (SDL)? Do you know? As an employer, on top of CPF contribution and Foreign Worker Levy, you are required to pay a mandatory levy for all your employees working in Singapore, and that would be Skill Development Levy (SDL). The SDL also includes foreign employees and employees…
Senior Minister of State, Mrs Josephine Teo Paid a Visit to 3E Accounting We are honoured to have the Senior Minister of State, Mrs Josephine Teo, visited our headquarter office in Singapore on 28 November 2016. During the visit, Mrs Teo got to know the good employment practices that we adopted in 3E Accounting. For…
New Requirement on Mandatory Retrenchment Notifications From 1 January 2017 A new requirement on mandatory retrenchment notifications will take effect from 1 January 2017. The tripartite partners have issued an advisory to guide employers on complying with this requirement. Under the Workforce Singapore Agency Act, employers will need to notify the Ministry of Manpower (MOM)…
Singapore-Laos Avoidance of Double Taxation Agreement Enter Into Force (DTA) The new Singapore-Laos People’s Democratic Republic Avoidance of Double Taxation Agreement (DTA) entered into force on 11 November 2016. The DTA provides clarity on tax matters and eliminates double taxation relating to cross-border transactions between the two countries. The full text of the DTA is…
Transfer Pricing Administration From Year of Assessment (YA) 2018, taxpayers must report certain details of related party transactions (RPT) if the value of RPT in the audited accounts for the financial year exceeds $15,000,000. The Form for Reporting Related Party Transactions should be submitted together with the submission of Form C. The RPT data will…
Conditions of Employment 2016 Greater adoption of work-life initiatives by employers More employers are providing ad-hoc flexible work arrangements and leave benefits to help employees cope with personal and family commitments. Firms that implement work-life initiatives tend to have lower employee turnover. These are the key findings from the “Conditions of Employment 2016” report released…
Changes in SSIC code for Business Activity for some Business Entities Due to changes in the Singapore Standard Industrial Classification (SSIC) issued by the Department of Statistics, the SSIC code for the business activity of some business entities will change. SSIC 2015 incorporates recent changes in economic activities to better reflect the current structure of…
Chinese Development Assistance Council, and How it Empowers the Chinese Community In the early 1990s, the Singapore Chinese Chamber of Commerce and Industry (SCCCI) and the Singapore Federation of Chinese Clan Associations (SFCCA) created a non-profit organisation to uplift and support the Chinese community. Since its establishment, this organisation, the Chinese Development Assistance Council (CDAC),…
Why Do You Need to Outsource Your Company Secretarial Service in Singapore? It is a MUST for every company to appoint a company secretary within six months of incorporation. So, who can serve as your company secretary? Company secretary should be a Singaporean citizen, permanent resident or Singapore Employment Pass / EntrePass / Dependent Pass…
A Safe Environment Begins With A Clean Natural Surroundings The world we live in is our responsibility. This has been drummed throughout generations, yet many more have yet to understand how it affects us, literally. As much as we can, we harness and exploit the riches of the earth to our pleasures. Adversely, it affects…
