MAS & CAD to Combat Money Laundering

MAS and CAD announced partnership to fight money laundering, terrorism financing and work on enhancing Singapore’s position as an international financial centre and trade hub.

The World’s Most Innovative Countries 2016

According to the 2016 Global Innovation index, Switzerland topped the chart once again, with the USA ranking fourth place and Singapore sixth place.

S’pore Urged to Take Tougher Stand on Money Laundering Crimes

Singapore, one of Asia’s top financial centres, is exposed to “foreign predicate” money-laundering cases and has to take a tougher stand…

PE and Double Tax Deduction for Internationalisation

As more and more Singapore companies are involved in international operations, they’re getting prepared to face challenges on tax issues…

Singapore ‘third-best financial centre’

The index rankings, compiled by the London-based think-tank Z/Yen Group, placed Singapore behind leader London and New York and two points ahead of Hong Kong.

Itemised Payslips Compulsory with effect from 1 April 2016

The change affects all workers covered by the Employment Act which does not include managers and executives earning a monthly basic salary of more than $4,500.

Targeted Help for Businesses will have Bigger Impact: Heng

Finance Minister Heng Swee Keat announced that the next stage of restructuring will involve industry-specific measures which aim to be more effective in improving efficiently…

New Accounting Rules on Leases

New accounting rules on leases (IFRS 16) will be effective from January 2019 so as to create more transparency to the investors and analysts.

Revised Auditing Reporting Standards

Some key changes in ensuring adequate disclosures include investment valuation and going concerns.

New Audit Exemption Effective July 2015

Broad criteria for the exemption are as follows and you’ll need to meet 2 out of these 3 criteria: Revenue < S$10m, Assets < S$10m and Employess ≤ 50.