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Budget 2021: GST to be extended to low-value and non-digital imports from 2023

News

Budget 2021: GST to be extended to low-value and non-digital imports from 2023

Ace Global
December 30, 2021

On Feb 16, 2021, Deputy Prime Minister Heng Swee Keat announced that low-value goods bought online and imported via air or post will be subject to Goods and Service Tax (GST).

Closure of Deposit Service Accounts service from 1 Oct 2021

Ace Global
December 30, 2021

From 1 Oct 2021, the Deposit Service Accounts (DSA) service – one of the payment methods available for customers transacting with BizFile+ and ACRA iShop, will be discontinued.

PwC Singapore calls for tax incentives on Covid-19 business spend in Budget 2021

Ace Global
December 30, 2021

PwC Singapore has suggested that the tax rules should be adjusted in the next national Budget to cover pandemic-related spending and business needs.

Singapore – UK sign Free Trade Agreement (FTA) to work towards a digital economy agreement

Ace Global
December 30, 2021

On Thursday (10 December 2020), Singapore and the UK have signed the UK-Singapore Free Trade Agreement (FTA). According to the Ministry of Trade and Industry (MTI), Singapore and UK companies will enjoy the same benefits from the EU – Singapore FTA (EUSFTA).

5G and government support boost renewable use for data centres

Ace Global
December 30, 2021

Athough it is not optimistic for data centre operators in Singapore to have solar and wind as their primary energy source by 2025, the new government support for green energy and the introduction of 5G network will offer opportunities for the renewable energy sector in the Singapore.

Legal challenges posed by the Covid-19 fallout and how the Small and Medium Enterprises (SMEs) should respond

Ace Global
December 30, 2021

COVID-19’s unprecedented and widespread disruptions to business operations have thrown many Small and Medium Enterprises (SMEs) into financial crisis.

New eligibility criteria for COVID-19 Support Grant from Oct 1

Ace Global
December 30, 2021

The Ministry of Social and Family Development (MSF) announced that the new eligibility criteria have been applied from 1 Oct 2020.

Pandemic drives Singapore banks to accelerate digital offerings

Ace Global
December 29, 2021

Despite Singapore’s relatively stable economic and political environment, Singapore banks still have to navigate their operation through economic disruptions and changing demands in the COVID-19 pandemic.

ACRA IRAS Seamless Filing Initiative

Ace Global
December 29, 2021

In consideration of helping SMEs stay relevant and competitive, the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS) have collaborated accounting software providers to co-create a new digital solution that allows SMEs to automate the preparation and filing of statutory Filings with ACRA and IRAS seamlessly.