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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, […]

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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 […]

Participate in SIAS Corporate Governance Week 2022 (7-14 October 2022)

September 21, 2022

ACRA will be SIAS Corporate Governance Week’s supporting partner in 2022. Date: 7 – 14 October 2022 Every year, SIAS hosts Corporate Governance Week, a series of seminars, workshops, and forums to discuss the most acceptable corporate governance practices for businesspeople, organizations, and charities. We anticipate meeting you at our hybrid conferences, virtual workshops, and […]

Tax Treaty-Related Measures implemented to Prevent Base Erosion and Profit Shifting through the Multilateral Convention

September 08, 2022

Singapore’s participation in the negotiation of the MLI (Multilateral Instrument) is in line with its commitment to implement the minimum standard for preventing treaty abuse. The MLI is intended to enable jurisdictions to swiftly amend their tax treaties to implement the tax treaty-related Base Erosion and Profit Shifting. Date What’s new 1 September 2022 The […]

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Multinational enterprises (MNEs) are required to prepare and file Country-by-Country Reporting (CbCR) to IRAS

August 24, 2022

For financial years (FYs) commencing on or after 1 January 2017, multinational companies (MNEs) with their headquarters in Singapore are required to produce and submit CbC Reports to IRAS if they meet certain requirements. What is Country-by-Country Reporting (CbCR)? The Organization for Economic Co-operation and Development (OECD) announced Country-by-Country Reporting (CbCR) as a form of […]