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Protected: Singapore Budget 2025: Onward Together for a Better Future Tomorrow
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International Financial Reporting Standard (IFRS) 18, Presentation and Disclosure in Financial Statements
The International Accounting Standards Board (IASB) has published its new standard IFRS 18 ‘Presentation and Disclosures in Financial Statements’ that will replace IAS 1 ‘Presentation of Financial Statements. The new IFRS responds to investors demand for better information about companies financial performance and to improves transparency in the financial statements that will give the investors a…
New Global Internal Audit Standards
The Institute of Internal Auditors (IIA) unveiled its updated Global Internal Audit Standards on 9 January 2024, offering a modernised and comprehensive framework designed to enhance internal audit functions and foster positive organisational change. Adopting these new standards allows organisations to adapt to the fast-paced evolution of business environments, technological innovations, and emerging risks.…
Proposed International Standard on Sustainability Assurance (ISSA) 5000 – General Requirements for Sustainability Assurance Engagements
The proposed ISSA 5000 is designed to be a comprehensive and independent standard applicable to limited and reasonable sustainability assurance engagements. The proposal is more specific than ISAE 3000 (Revised) and ISAE 3410 for sustainability priority areas. It will cover sustainability information reported on various topics and prepared under multiple frameworks, including the IFRS Sustainability Disclosure Standards S1 and…
International Financial Reporting Standards (IFRS) S1 and S2
The International Sustainability Standards Board (ISSB) has released the IFRS Sustainability Disclosure Standards, a global framework for consistent, comparable, and high-quality sustainability reporting. These standards, designed to meet investor needs, include IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures, which were issued on 26 June 2023 and become effective…
Singapore Budget 2024: Insights and Support Measures for the Year and Beyond
Singapore Budget 2024: Insights and Support Measures for the Year and Beyond Budget 2024 is all encompassing as it tackles immediate uncertainties in the economic outlook, inflation, rising business costs and cost of living. The Budget aims to be inclusive, pro-business, pro-Singaporeans and thrust Singapore forward against a competitive global landscape whilst remaining socially…
Tax Changes as Covered in Singapore Budget 2023
Tax Changes as Covered in Singapore Budget 2023 Finance and Deputy Prime Minister Lawrence Wong’s budget speech 2023 has touched on vital key points to look forward to in 2023 as the government laid out plans to fuel internal revenue sources through taxes whilst providing support to those struggling to adjust to post-pandemic norms…
Crash Course in Singapore’s Income Taxation
Crash Course in Singapore’s Income Taxation (2023) As the deadline for filing and paying income taxes is fast approaching there will be a plethora of tax vocabularies and computation that will come along your way. Most may confuse you and may hinder your understanding of your taxes and the benefits you can enjoy. This…
Industry Roundup: Important Updates and Reminders
Industry Roundup: Important Updates and Reminders The global economy is rocked by waves of uncertainties. The International Monetary Fund (IMF) has generated a forecast for global growth to fall from an estimated 3.5 percent in 2022 to 3.0 percent in both 2023 and 2024. True enough, businesses across industries grapple with steep debt interest rates, rising…
All materials have been prepared for general information purposes only. The information presented in this document is not legal advice, is not to be acted…
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Singapore is home to more than 5,000 maritime establishments, holding headquarters of 140 of the world’s top shipping groups. With the added advantage of having…
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As the world advances into a technologically connected global village, countries are constantly looking to expand their presence with the right infrastructure to catch up with the latest developments and innovative…
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This guide will provide you with an overview of the key aspects involved in registering a charity. Charities are designed as organisations which: Operate on…
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The Goods and Services Tax was first introduced in Singapore in 2003 as part of a government reform to shift taxes from an income-based to…
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Singapore serves as an attractive business hub for companies looking to expand into the emerging Asian Economy for numerous reasons, top of which include ease…
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The following article covers common mistakes that businesses may often overlook when filing their income tax returns and what measures to follow to avoid them.…
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The following legislative changes in relation to AGMs and the filing of ARs are in effect since 31 August 2018. This is part of on-going…
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An annual return (AR) is an electronic document to be submitted to the Accounting and Corporate Regulatory Authority (ACRA). It is intended to keep the…
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Companies that have been incorporated in Singapore are required to adhere to a set of compliance requirements as prescribed under the Accounting and Corporate Regulatory…
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