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MAS plans to launch a platform mandating information exchange across banks in 2023

Ace Global
December 30, 2021

The Republic’s central bank is creating a digital platform that will compel financial institutions to securely exchange information on questionable clients or transactions in order to cleanse fraudsters who are transferring filthy money via Singapore’s financial institutions.

Euromoney has rated UOB as the world’s top bank for SMEs.

Ace Global
December 30, 2021

UOB has a reputation for being one of the top banks in the world when it comes to financing small and medium-sized businesses (SMEs).

IRAS has introduced two new digital efforts to help you meet the December 15 corporate tax filing deadline.

Ace Global
December 30, 2021

Small and medium-sized businesses can now submit returns to both IRAS and ACRA in one go using an upgraded accounting solution or use a streamlined income tax return — Form C-S (Lite)— to speed up tax filing.

Singapore’s corporate leaders are on the same wavelength as their ‘born digital’ staff.

Ace Global
December 30, 2021

Compared to their worldwide counterparts, more Singapore corporate executives favor flexible work, placing them on the same page as “born digital” employees who prefer such flexibility.

Singapore and the United Kingdom have signed memorandums of understanding (MOUs) on digital trade, identities, and cybersecurity.

Ace Global
December 30, 2021

Singapore and the United Kingdom will collaborate more closely to enable digital trade between the two nations as part of a collaboration that will make commercial digital transactions easier, safer, and less expensive.

Singapore announces massive tax reforms to support government expenditure.

February 22, 2022

Singapore proposed a series of progressive tax reforms on Friday (February 18) to raise income to support extensive programs needed over the next several years and tackle socioeconomic disparities. In response to concerns about rising costs, the increase in the goods and services tax (GST) to cover the recurrent social and healthcare demands of a […]

No-Filing-of-Tax-Returns-for-7-in-10-Taxpayers

IRAS simplify the tax filing experience from Tax Season 2022

March 03, 2022

This year, 7 out of 10 taxpayers (or more than 1.6 million of 2.3 million taxpayers) are qualified for the No-Filing Service (NFS). The Inland Revenue Authority of Singapore (IRAS) will also roll out initiatives to simplify the tax filing experience. More people will get direct tax bills rather than filing notices, skipping the tax […]

Why should you join International Compliance Assurance Programme (ICAP)?

March 18, 2022

The International Co-operation and Development Agreement (ICAP) was developed by the Organization for Economic Cooperation and Development (OECD) to be an efficient, effective, and coordinated approach to providing MNE groups with increased tax certainty concerning certain of their activities and transactions. As part of our commitment to provide tax certainty to MNE firms, IRAS will […]

Singapore Companies to Strengthen Corporate Governance with Two New Tax Frameworks

April 20, 2022

To assist businesses in strengthening tax compliance, the Inland Revenue Authority of Singapore (IRAS) introduced two new tax frameworks: The Tax Governance Framework (TGF) and the Tax Risk Management and Control Framework for Corporate Income Tax (CTRM). The TGF and CTRM intend to supplement the existing Goods and Services Tax Assisted Compliance Assurance Programme (GST […]