Asian Development Bank (ADB) Expands Office to Singapore ADB Intends to Strengthen Collaboration and Support Private Sector Expansion The Asian Development Bank (ADB) office in Singapore was officially opened by ADB President and Singapore Deputy Prime Minister and Minister for Finance on 5 March 2020. This was the culmination of close to nine months of…
Tax Filing Deadlines in Singapore Extended by IRAS Tax filing deadlines in Singapore have been extended for both businesses and individuals, with more time allocated to file taxes. In light of the stricter safety measures being implemented in Singapore from 7 April to 4 May 2020 to slow down the spread of COVID-19, the Inland…
Singapore Ranked As World’s Freest Economy in 2020 Index of Economic Freedom According to the 2020 Index of Economic Freedom published by the Heritage Foundation, Singapore is now ranked as the world’s freest economy. The index defines economic freedom as “the fundamental right of every human to control his or her own labor and property”.…
Wage Credit Payouts for More Than 90,000 Employers More Than 90,000 Employers Are Set to Receive Payouts by 31 March More than 90,000 employers in Singapore will be receiving wage credit payouts amounting to more than $600 million by 31 March 2020. Out of the 90,000 employers, most of them were Small and Medium…
Employment Pass Minimum Salary Raised to $3,900 to Ensures Level Playing Field Salary for Employment Pass Workers in Singapore to Rise From May 2020 Employment Pass (EP) minimum salary rates in Singapore will increase from May 2020, applicable to all foreign workers hired under the EP structure. The raise from the $3,600 minimum monthly…
Singapore Allows More Investors to Qualify for Fast-track PR Scheme – Global Investor Programme Singapore is set to add three more categories of eligible candidates for its Global Investor Programme which allows successful applicants to obtain permanent residency in Singapore under certain conditions. Eligible Candidates for Fast-track PR Scheme Introduced in 2004, the Global…
Register for Registrable Controllers Must Be Submitted to ACRA by April 2020 New Rules for Company Register’s by April 2020 By April 2020, business in Singapore will be required to report the ownership of their business to the Register for Registrable Controllers. Currently, the Accounting and Corporate Regulatory Authority (ACRA) is yet to…
Huge Investments Set to Create 32,000 Job Opportunities in Singapore Despite Global Economic Uncertainties Despite the global economic uncertainties of the challenging past year, Singapore beat expectations for investment commitment last year. SG$15.2 billion in investments were secured last year. This is expected to create more than 32,000 job opportunities in the coming years. The…
What Do You Expect From Singapore Budget 2020? An industry survey found that the majority of companies across all major industries want tax relief in the Singapore Budget 2020 due to be announced next month as they prepare for a tough year ahead. According to the annual National Business Survey by the Singapore Business Federation…
Scam Alert Warning – How Companies and Employees Can Stay Safe Don’t Let Yourself Become a Victim, Find Out What You Can Do Police are urging Singaporeans to be safe given the rise in crimes, with issuing scam alert warnings for companies and employees. To avoid becoming a victim, both companies and employees are…
