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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…
Singapore has evolved into a global hotspot for talent, ranking #2 overall in the Global Talent Competitiveness Index 2021. Individual and foreign companies who have…
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Singapore has long been promoting an economy that encourages investors and entrepreneurs to bring forth innovative ideas and business solutions. Some of the many programs…
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Entrepreneurs and foreign companies who have made the decision to start or expand their business in Singapore can choose from a wide range of office space options available…
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Every year, more and more individuals and foreign companies are looking to set up or expand their business in Singapore. A hassle-free company incorporation procedure…
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Singapore, being home to over 400,0000 enterprises, allows for a variety of business structures that would meet the diverse needs of its business owners. Choosing…
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Singapore, ranking second in the world for the easiest place to do business, is home to over 400,000 business entities. It is no surprise then…
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Foreign entrepreneurs and investors who are interested in starting or investing in a business in Singapore and looking to settle here permanently can make use…
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The cosmopolitan and vibrant city of Singapore is home to over one million expats from different parts of the world. Diverse communities, great infrastructure, economic…
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Immigrating to a new country can be a daunting task for many and understanding the various visa options available becomes crucial to make this move.…
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Foreigners looking to set up a business and relocate to Singapore may be faced with unwritten social rules and work ethics that are local to…
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