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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…
Expanding Beyond Singapore: Why India and South Asia Should be Your Next Move
Singapore is Asia’s most attractive business hub, scoring 2nd worldwide just behind USA on this year’s Innovator’s Business Environment Index, that ranks countries with the best business environments worldwide. With an aggressive trade environment, consistently exceeding 300% on its GDP-to-trade ratio, Singapore is also the gateway where most businesses would set up in as a…
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 most…
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…
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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The Helmi Talib Group is pleased to announce our newly constituted Internal Audit & Risk Consulting Department, headed by Ms Sue Hui who will be…
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We are pleased to announce the appointment of Jaypee Bautista as an Audit Partner of the firm, effective 01 July 2021. Having worked for more…
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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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