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Amendments to Financial Reporting Standards (FRS) 109 & 107 : Business and Audit Implications
The International Accounting Standards Board (IASB) has recently issued narrow scope amendments to address emerging issues in the financial landscape that took effect on 1 January 2026. For businesses, the amendments are expected to streamline the way organisations measure and disclose financial assets and liabilities, covering modern financial instruments and complex business transactions, particularly those…
InvoiceNow Requirement for all Singapore GST-Registered Businesses: Here’s What You Need to Know
All GST-registered businesses in Singapore will soon be required to onboard their systems with InvoiceNow. To digitalise national tax compliance, invoice data will be directly submitted to the Inland Revenue Authority of Singapore (IRAS) via the InvoiceNow network through Accredited Access Points (APs). The mandate will be implemented in phases from April 2028 to April…
Singapore Budget 2026 For Local Businesses and Foreign Investors
Singapore ended 2025 in a much stronger financial position than forecasted. The previous year’s S$15.1 billion budget surplus came more than double the estimate of S$6.8 billion. This was driven by better-than-expected 5% growth, economic performance, increased corporate tax, and Certificate of Entitlement (COE) collections. 2026 growth is a more muted projection at 2-4%.…
Frequently Asked Questions when Setting Up a Business in Singapore
Business Registration in Singapore: A Guide for Foreign Entrepreneurs (2026) Singapore remains a competitive hub for foreign investment, consistently ranking atop the world’s biggest economies. Based on the numbers recorded by the Accounting and Corporate Regulatory Authority (ACRA), there is a 2% increase in business formations and registry in 2025 compared to 2024. With Foreign…
A Seamless Gateway from Singapore to East Asia and Beyond
Two nations consistently sitting atop the five biggest economies in the world are in East Asia, China and Japan. Hong Kong, South Korea, and Taiwan are rapidly advancing technology and manufacturing powerhouses. For organisations and individuals venturing into business expansion to these countries through Singapore, establishing a clear and seamless pathway into the East’s…
EP 200 Implementation Guidelines (IG) 1 on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) Compliance
The Institute of Singapore Chartered Accountants (ISCA) has recently issued Ethics Pronouncement (EP) 200 Implementation Guidelines (IG)1. The guidelines provide practical know-hows for professional accountants in Singapore to ensure compliance with Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) requirements. It clarifies key obligations, outlines risk-based approaches, and helps firms implement effective safeguards…
Singapore Opportunity Index: Driving Real Workforce Progress in Singapore and Beyond
For years, particularly in the Accounting industry, attracting and retaining talent has always been a challenge for most, if not all, firms. Singapore Opportunity Index (SOI), recently developed in partnership with Singapore’s Ministry of Manpower, the Burning Glass Institute, and the Singapore University of Social Sciences, aims to delve deep into the factors that drives…
Upholding Integrity: Key Takeaways from MAS’ Recent Enforcement Actions
Singapore prides itself on its stringent financial controls and regulatory oversight, which make it an attractive hub for business expansion and foreign investments. The Monetary Authority of Singapore, the body that oversees all financial functions, whilst ensuring the integrity, stability, and efficiency of Singapore’s financial systems, has been actively enforcing actions on breaches of…
Seamless Solutions Across Borders: Leveraging International Expertise Through Kreston Global
Why Global Connectivity Matters Over the years, business landscapes have significantly changed, driven by technological evolutions, global interconnectedness, shifts in consumer preferences, and the introduction of new markets and industries. These factors gave rise to endless opportunities for business growth and expansion into the international market. At Kreston Helmi Talib, we understand that optimising…
The International Accounting Standards Board (IASB) has recently issued narrow scope amendments to address emerging issues in the financial landscape that took effect on 1…
Read More
All GST-registered businesses in Singapore will soon be required to onboard their systems with InvoiceNow. To digitalise national tax compliance, invoice data will be directly…
Read More
Singapore ended 2025 in a much stronger financial position than forecasted. The previous year’s S$15.1 billion budget surplus came more than double the estimate of…
Read More
Business Registration in Singapore: A Guide for Foreign Entrepreneurs (2026) Singapore remains a competitive hub for foreign investment, consistently ranking atop the world’s biggest economies.…
Read More
Two nations consistently sitting atop the five biggest economies in the world are in East Asia, China and Japan. Hong Kong, South Korea, and…
Read More
The Institute of Singapore Chartered Accountants (ISCA) has recently issued Ethics Pronouncement (EP) 200 Implementation Guidelines (IG)1. The guidelines provide practical know-hows for professional accountants…
Read More
For years, particularly in the Accounting industry, attracting and retaining talent has always been a challenge for most, if not all, firms. Singapore Opportunity Index…
Read More
Singapore prides itself on its stringent financial controls and regulatory oversight, which make it an attractive hub for business expansion and foreign investments. The…
Read More
Why Global Connectivity Matters Over the years, business landscapes have significantly changed, driven by technological evolutions, global interconnectedness, shifts in consumer preferences, and the…
Read More