With the recent unveiling of Budget 2024 on 16 February 2024, Mr Lawrence Wong, Deputy Prime Minister, and Minister for Finance outlined Singapore's strategic focus on a shared economy, underscoring the nation's commitment to sustainable growth and innovation.
If your company is incorporated in Singapore, you must file annual returns with the Accounting and Corporate Regulatory Authority (ACRA) within the statutory deadline after the end of each financial year.
In line with Singapore's long-term goal of improving retirement adequacy, the Singapore Government has announced that the employer and employee Central Provident Fund (CPF) contribution rates for workers aged 55 to 70 and the CPF income ceiling will continue to increase in 2024.
Outsourcing benefits companies in a myriad of ways including improving efficiency, enhancing work quality and ensuring better cost control.
The Singapore government has announced a S$1.5 billion support package to provide immediate relief for lower-income and more vulnerable groups.
As of 1 September 2023 onwards, new Employment Pass (“EP”) candidates must pass a two-stage eligibility framework.
We are pleased to announce the promotion of Joanne Chong to Director to further strengthen our outsourcing services in Singapore, with immediate effect.
It is with great pleasure to announce that Mazars has assisted Latitude Financial Services (Latitude) in its successful business expansion into Singapore and the region.
Singapore introduces new requirements under the Corporate Registers (Miscellaneous Amendments) Act to strengthen its corporate governance regime and brings it into closer alignment with international standards.
In the Budget 2022 announcement on 18 February, Finance Minister Lawrence Wong announced that the minimum qualifying salary will be raised by S$500 for Employment Pass and S Pass applicants from September this year.
Ensuring compliance is essential for all companies, not just the ones listed on the stock exchange. The corporate environment is constantly evolving, making the challenges of corporate governance in the privately held business sector greater than ever.
The Department of Statistics has recently introduced the fourteenth edition of the Singapore Standard Industrial Classification (SSIC). SSIC is the national standard for classifying economic activities undertaken by economic units and is used in censuses of population, household and establishment surveys and in administrative databases.
From 10 August 2021, work pass holders and their dependants with travel history to higher risk countries/regions can start applying for entry approval, on the condition that they must be fully vaccinated before arrival in Singapore.
The Immigration & Checkpoints Authority (ICA) will introduce a new Foreign Identification Number (FIN) series with the prefix M from 1 January 2022.
The Ministry of Manpower (MOM) will be making changes to the entry of work pass holders who have earlier obtained approvals to arrive from higher risk countries/regions from Tuesday 11 May 2021 onwards. As of 7 May 2021, high risk countries/regions refer to all countries/regions except Australia, Brunei Darussalam, Mainland China, New Zealand, Taiwan, Hong Kong and Macao.
Intra-corporate transferees (ICT) are employment pass (EP) holders, and must have worked for their company for at least one year before being posted to the branch, affiliate or subsidiary in Singapore.
With effect from 30 April 2021, ACRA will implement a 2-tier penalty framework for filing of annual return and annual declaration for all companies (including VCC) and limited liability partnerships (“LLPs”) as below:
The Economic Development Board (EDB) has announced that a new work pass called Tech.Pass will be launched next year. The target is top-tier foreign tech professionals and experts looking to start businesses, lead corporate teams or teach here. EDB is seeking to attract highly skilled technology professionals in fields such as e-commerce, artificial intelligence and cyber security.
The minimum qualifying salary will be raised to S$4,500 and S$2,500 for EP and S Pass Holders respectively.
On 13 April 2020, the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020 (the “Order”) was issued. The Order prescribes the alternative arrangements for the conduct of general meetings. The alternative arrangements apply to meetings convened, held, conducted or deferred during...
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