133 New Bridge Road, Chinatown Point #10-03 Singapore 059413
+65 9061 2851 (Whatsapp) 24 Hrs
+65 6996 4359 (Office)
contact@aceglobalaccountants.com

Overview of Comments Received in Response to Feedback on the Management of Virtual and Hybrid Meetings

News

overview-of-the-received-in-reponse-to-feedback-on-the-management-of-virtual-and-hybrid-meetings

Overview of Comments Received in Response to Feedback on the Management of Virtual and Hybrid Meetings

April 21, 2023

13 April 2023 In response to the consultation feedback on the conduct of virtual and hybrid meetings, The Accounting and Corporate Regulatory Authority (ACRA), the Ministry of Finance (MOF), and the Monetary Authority of Singapore (MAS) are currently responding to it. This is in relation to the proposed amendments under the Companies, Business Trusts […]

Base Erosion and Profit Shifting: International Convention to Implement Tax Treaty Related Measures

April 07, 2023

Singapore took part in the MLI negotiations as part of its commitment to enact the minimal requirement for preventing treaty misuse. The MLI is designed to make it possible for jurisdictions to quickly update their tax treaties in order to put Base Erosion and Profit Shifting (BEPS) recommendations relevant to tax treaties into effect. The […]

ACRA Terminates Qualified Persons and Filing Agent Registration Due to Regulatory Violations

March 24, 2023

The Accounting and Corporate Regulatory Authority (ACRA) cancelled the registrations of a qualified individual (RQI) Liang Jiansen and filing agent (RFA) Yuansen Business Pte. Ltd. (YBPL), for breaches of the ACRA (Filing Agents and Qualified Individuals) Regulations 2015. This follows an investigation by ACRA where it was uncovered that both Liang and YBPL had submitted […]

Corporate Income Tax Filing: Beginning in 2023, users of software that allows seamless filing will receive additional benefits

February 09, 2023

3 Years of Automatic 15-Day Extension of Filing Due Date and Penalties Waiver To support more companies and tax agents in their journey to adopt seamless filing from software for greater productivity, the Inland Revenue Authority of Singapore (IRAS) is pleased to announce two new benefits for those filing Corporate Income Tax (CIT) Returns (Form […]

Withholding Tax

January 26, 2023

Corppass (Singapore Corporate Access) is the exclusive system for businesses to control digital service access for their employees and third-parties (eg. tax agents) who are require to carry out corporate dealings with government agencies on the internet. To access IRAS digital services on behalf of your company, your staff or tax agent first needs to […]

Enhancing Audit Committee and Finance Team Competency is Essential for High-Quality Financial Reporting

January 12, 2023

The Accounting and Corporate Regulatory Authority (ACRA) has issued its fourth Financial Reporting Surveillance Programme (FRSP) report, which noted that the knowledge gap and insufficient due diligence remain the main root causes contributing to material non-compliances with accounting standards. Another root cause was the lack of action taken on issues raised by auditors. ACRA […]

Intangibles Disclosure Framework Public Consultation to Improve Transparency and Commercialization of Intangibles

December 29, 2022

The Accounting and Corporate Regulatory Authority (ACRA) and the Intellectual Property Office of Singapore (IPOS) are looking for feedback on a proposed Intangibles Disclosure Framework (Framework) that would help businesses disclose and communicate information about their intangible assets. The public consultation will be open from 14 December 2022 to 28 February 2023. The Framework for […]

Revision of the Accountants Rules: New Opportunities for Accounting Corporations, Accounting Firms and Accounting LLPs

December 15, 2022

The Accounting and Corporate Regulatory Authority (ACRA) has made alterations to the fee-related guidelines under the Accountants (Public Accountants) Rules (“PA Rules”) and the Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules (“AE Rules”) to foster clarity and productivity. The PA Rules and the AE Rules have been amended with effect from December 15, […]

Determining Whether Your Income is Taxable

November 30, 2022

Generally, any income earned in Singapore or from foreign sources is taxable. What is Taxable? Your company will have to pay taxes on any taxable income that is: Accrued in Singapore, or Received from outside of Singapore. For example, the income from a business carried on in Singapore is regarded as accrued in or […]