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Industry Insights

Keep up to date with the latest news surrounding Singapore's tax and company laws.

Budget 2022 Overview

May 31, 2022
Support for Workers and Businesses Progressive Wage Credit Scheme (PWCS) The Progressive Wage Credit Scheme (PWCS) provides transitional wage support for employers to adjust to upcoming mandatory wage increases for lower-wage workers covered by the Progressive Wage and Local Qualifying Salary requirements and voluntarily raise wages of lower-wage workers. The PWCS will have the following […]
Written by
Jun Jun
Taxation

Some Highlights Of Budget 2021

March 22, 2021
Supporting For Business Jobs Support Scheme (JSS) Extend support for Tier 1 sectors (Eg. Aviation, Aerospace, and tourism) 30% for wages paid from Apr to Jun 2021, and 10% for wages paid from Jul to Sept 2021 Tier 2 sectors (Eg. Retail, Arts and Culture, Food Services, and Build Environment) 10% for wages paid from […]
Written by
Jun Jun
Taxation

Covid-19 Impact on Financial Reporting

March 22, 2021
Covid-19 pandemic has affected the global economies and most of the entities, directly or indirectly, which in turn has significant implications on financial reporting. This article highlights the impact of Covid-19 on financial reporting and provide a summary of key considerations to focus on the financial statement. Basis of Preparation of Financial Statements 1. Assessment […]
Written by
Pei Pei
Partner

New requirements to lodge information on Singapore's register of registrable controllers

July 20, 2020
In addition with the existing requirement to maintain the Registers of Registrable Controllers (“RORC”) at registered office,  Accounting and Corporate Regulatory Authority (“ACRA”) has an additional requirement for all companies, foreign companies and Limited Liability Partnerships (“LLP”), unless exempted, to lodge information on the register with ACRA via BizFile+ in July 2020.  ACRA will provide […]
Written by
Teck Seng
Corporate Secretarial

What is Cloud Accounting

May 7, 2020
Cloud accounting is accounting using software accessed over the internet that is hosted remotely on the cloud. All functions are performed off-site and users access the applications remotely through the internet.  Why cloud accounting? Nothing to install. Access financial data in one place online. Free and instantly updates. Real-time insights. Capture, track, and manage accounts with ease […]
Written by
Jie Ting
Business Development
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