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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 […]

Public Accountants’ Certificate of Registration Renewal for 2023

November 16, 2022

Public accountants who wish to renew their certificate of registration for 2023 are to submit their applications for renewal via the BizFile+ portal starting from 1 December 2022. Renewal Criteria 2. Public accountants must complete all requirements for renewal before their registration can be renewed. This includes compliance with the Continuing Professional Education (CPE) requirements, […]

With more than 850 expert speakers and 450 fintech exhibitors, the Singapore FinTech Festival kicks off

November 03, 2022

Singapore, 31 October 2022, The Singapore FinTech Festival (SFF), now in its seventh year, will be held in person from 31 October to 4 November. Building Resilient Business Models Amid Volatility and Change is the theme of SFF 2022, organized by the Monetary Authority of Singapore (MAS) and Elevandi [1]. The Accounting and Corporate Regulatory […]

New Rules to the Corporate Registers (Miscellaneous Amendments) Act

October 19, 2022

Singapore, 4 October 2022 The Accounting and Corporate Regulatory Authority (ACRA) has implemented new requirements to bolster Singapore’s corporate governance regime, and reiterate Singapore’s dedication to combating money laundering, terrorism financing, and other threats to the integrity of the global financial system. The following requirements will go into effect from 4 October 2022 of signing, […]

recommendtaions-for-asr-digital-features

Recommendations for ASR+’s digital features and products

October 06, 2022

This page provides the recommended digital products/features for ASR+ for Goods & Services (GST) and Corporate Income Tax (CIT) purposes, as well as details on how to incorporate them and apply them for the products/features. 1. What is ASR+? ASR+ is a list of accounting software options maintained by IRAS since 2005 that meet specific […]