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Singapore Employment Pass – Work Visa for Professionals and Entrepreneurs
To encourage foreign entrepreneurs and professionals to setup a Singapore company and work in the country, the government provides a work permit called Employment Pass for those who will meet with these following qualifications: A Diploma/degree from a reputable university Related work experience At least a minimum S$2,500 ... Read More
Singapore Parliament Passes “Rapid Transit Systems Bill”
The Singapore Parliament on Monday has passed the second reading the new Rapid Transit Systems Bill, which aimed to facilitate timely expansion of its railway network and to cater needs of the country’s growing population. In her speech, Land Transport Authority (LTA) Minister Lim Hwee Hwa said that the Singapore government ... Read More
Singapore Tops “Most Popular” Immigration Destination Survey
Singapore has remained the top destination in the world in terms of attracting immigrants and workers, beating other neighbouring and western economic powerhouse, a recent Gallup survey told. The survey, which aims to calculate the member countries’ Potential Net Migration Index (PNMI), was conducted among 350, 000 people in some 148 ... Read More
Singapore MAS Invites Comments on Proposed Enhancements for Fund Management Companies
The Monetary Authority of Singapore (MAS) is reviewing the regulatory regime for financial intermediaries conducting fund management activities and the exemption regime for financial intermediaries engaged in leveraged foreign exchange trading. The hedge funds industry has seen tremendous growth in Asia in the past few years. China continues to be a ... Read More
ACRA Launched Colour-coded Compliance Rating
ACRA’s online Business Directory Search will be enhanced to include a colour-coded compliance rating for locally incorporated companies to denote whether a company is in compliance with the Annual General Meeting (AGM) - including the tabling of up-to-date financial statements - and Annual Returns (AR) requirements. Compliant companies will be given ... Read More
Singapore Personal Tax Tips
General Personal tax Information – for Individuals (Foreigners): The amount of income tax that you have to pay depends on your tax residency in Singapore. Top marginal resident tax rate of 20% kicks in at S$320,000 of taxable income. Non-residents are taxed at the flat rate of 15% or the resident rates whichever ... Read More
Singapore Welcomes High Net Worth Investors From All Over the World
Singapore abolished Estate Tax, which it had inherited during the British era. The move will encourage Singapore to become an attractive place for wealth to be invested and built up, whether by Singaporeans or foreigners. The Estate Duty will be removed with immediate effect from the Singapore tax regime. The ... Read More
Financial Statements & Directors Report
The Directors are responsible for preparing financial statements for each financial year in accordance with the Financial Reporting Standards (FRSs) and general accounting practice. The statements must give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company ... Read More
Singapore Budget 2008 Unveil “Benefits for Business”
(A1) Tax Deduction for R&D Expenditure (for all companies) Increase the quantum of tax deduction for expenditure incurred on research and development (R&D) done in Singapore from 100% to 150%. This means that for every SS$100,000 of local R&D expenditure incurred, SS$150,000 may be claimed as a tax deduction. This higher ... Read More
Why Singapore? Singapore Company Setup Specialist – Gives You the Top 5
Singapore has attracted various organisations ranging from the Fortune 500 companies, small and medium enterprises, educational institutions to news bureaus to form their place in Singapore’s business landscape. Singapore is well known around the world as a multicultural, multi religious and multi racial harmonious island food paradise. Starting as a quiet, ... Read More
