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Streamlined Tax Filing 2024 for Self-Employed

Streamlined Tax Filing for 2024 Self-Employed

March 08, 2024

Singapore’s IRAS Simplifies Tax Filing for Self-Employed The Inland Revenue Authority of Singapore (IRAS) has introduced two initiatives to streamline tax filing for self-employed individuals (SEPs) in 2024, particularly for commission agents and delivery workers. Pre-filled Tax Returns: Over 100,000 commission agents will benefit from pre-filled income information in their tax returns, sourced from collaborating […]

Important Deadline for Employers: Submit Employee Income Data by March 1st to Avoid Penalties

February 23, 2024

Important Deadline for Employers: Submit Employee Income Data by March 1st to Avoid Penalties Timely compliance ensures a smoother tax filing process for over 2 million employees. The Inland Revenue Authority of Singapore (IRAS) reminds all employers that they are legally obligated to submit their employees’ 2023 employment income information by March 1, 2024. This […]

ACRA Cancels Registration of Filing Agent and Qualified Individual for AML/CFT Breaches

ACRA Revokes Registration of Filing Agent and Qualified Individual Due to AML/CFT Violations

February 07, 2024

On January 19, 2024, the Accounting and Corporate Regulatory Authority (ACRA) revoked the registrations of the filing agent (RFA) LW Business Consultancy Pte Ltd (LWBC) and the qualified individual (RQI) Wang Junjie (Wang). This action was taken on January 18, 2024, due to violations of anti-money laundering and countering the financing of terrorism (AML/CFT) controls […]

Singapore and the nertherlands for mli update

Singapore and the Netherlands Authorities Reach Agreement on MLI for Base Erosion and Profit Shifting.

January 26, 2024

On 12 January 2024, the competent authorities of the Republic of Singapore and the Kingdom of the Netherlands entered into a competent authority arrangement (“CAA”) to define the procedure for applying the arbitration proceedings outlined in Part VI (Arbitration) of the MLI. The arbitration provisions enable taxpayers to seek resolution for matters stemming from […]

Former Listco Director Jailed For Breach of Director Duties

Former Director of Listed Company Receives Imprisonment for Breach of Director Duties

January 11, 2024

Singapore, 8 January, 2024 – Poh Wee Chiow Roger (commonly known as Roger Poh), a former executive director of Catalist-listed Allied Technologies Limited (ATL), has been convicted by the State Court. The conviction stems from his failure to fulfill his directorial responsibilities with integrity in connection to ATL’s acquisition of a 51% stake in Activpass […]

Understanding Property Tax Calculation

December 29, 2023

Understanding Property Tax Property tax is levied on property ownership, whether the property is rented, owner-occupied, or unoccupied. Our contribution for the property tax is one way where we can help to secure our children’s education, improve the medical facilities for the folks, and make park for all to enjoy. Annual Property Value (AV) The […]

Singapore and China Strengthen Collaboration in Digital Finance and Capital Markets

December 18, 2023

On December 7, 2023, the Monetary Authority of Singapore (MAS) unveiled fresh digital finance and capital market strategies aimed at bolstering financial collaboration with China. These initiatives were discussed upon during the 19th Joint Council for Bilateral Cooperation (JCBC) held in Tianjin. The event was jointly led by Singapore’s Deputy Prime Minister and Minister […]

Determining a Company’s Tax Residency through Certificate of Residence

December 01, 2023

Control and Management under Singapore Tax Law The determination of a company’s tax residency in Singapore hinges on where its business is controlled and managed. This residency status can change from one year to the next. In a general sense, for a specific Year of Assessment (YA), a company is deemed a tax resident in […]

Singapore Adopts Crypto Asset Reporting Framework

November 17, 2023

Singapore, is joining 47 other jurisdictions, working towards initiating automatic exchanges in crypto-Assets reporting based on the globally recognized Crypto-Asset Reporting Framework (CARF) in 2027. For further details, refer to the joint statement issued by Singapore and the 47 Jurisdictions here in Annex A. Singapore has played an active role in contributing to the advancement […]