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…
Understanding Singapore Indian Development Association (SINDA) The Singapore Indian Development Association (SINDA) was formed in 1991 to uplift the Indian community in Singapore. With a focus on socioeconomic development, SINDA offers various programs and services to support individuals and families. One of SINDA’s key objectives is to ensure that every member of the Indian community…
6 Things You Need To Do After Your Company Has Setup After setting up your business, what is the next step? There are 6 things you should know and need to do after your company has setup, which includes accounting and bookkeeping, prepare financial statement, report income tax, register GST, hiring of staff and business…
Why Singapore is the best place to start your business in Asia? The choice you made where to start your business is very crucial. As each country has its own sets of variables that come into play. Hence, before making any decision for setting up company Singapore, thorough consideration has to be done. If you…
Dear Reader, Welcome to our E-Newsletter November 2016 We are glad to present you our newsletter for November. 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 by welcoming our new network…
Managing Director Charged For Collecting Over $105,000 In Kickbacks by MOM On 11 October 2016, the Ministry of Manpower (MOM) charged Ng Boon Cheng (Ng), the Managing Director of Lian Lee Wooden Case Maker Co Pte Ltd, with 20 counts of collecting kickbacks amounting to $105,235 from 20 of his foreign workers, as a condition…
