Insights
Our team at Kreston Helmi Talib is always on the lookout for industry news, and updates that are relevant to our clients whilst we share our insights on how each can impact businesses. Stay tuned to our latest releases to keep abreast of solutions, recommendations, and fresh perspectives on pressing issues brought about by the changing business landscape, and global headwinds.
Singapore Accounting Standards
Accounting standards are developed in the public interest to support a country’s corporate governance and financial reporting framework. This extends to most parts of the world in order to help a country maintain financial order. The International Accounting Standards Board (IASB) is an independent, accounting standard-setting body of the International Financial Reporting Standards (IFRS) Foundation…
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GST on Imported Services
Starting 1st January 2020, consumers and businesses who buy imported services from overseas suppliers with no establishment in Singapore will have to pay goods and services tax (GST). This change does not apply to goods purchased online from overseas suppliers. The current GST-free threshold of $400 and below will continue to apply to the goods imported into Singapore (excluding intoxicating…
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Recent Tax Changes Proposed in Singapore’s Budget 2020
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 on as such, may not be current and is subject to change without notice. Professional advisory should be sought before taking or refraining from any action as a result of…
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Singapore Under the New Normal
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 on as such, may not be current and is subject to change without notice. Professional advisory should be sought before taking or refraining from any action as a result of…
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New Internal Audit & Risk Consulting Department
The Helmi Talib Group is pleased to announce our newly constituted Internal Audit & Risk Consulting Department, headed by Ms Sue Hui who will be joining us as Internal Audit & Risk Consulting Manager with effect from 1st April 2021. Read More
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Jaypee Bautista Appointed as Audit Partner
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 than 10 years with the Helmi Talib Group, Jaypee Bautista has since grown with the firm to become a dedicated leader eager to share the knowledge and experience he gained…
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Amendments to IAS 21 (Lack of Exchangeability)
The existing International Accounting Standards (IAS) 21, otherwise known as 'The Effects of Changes in Foreign Exchange Rates', provides guidelines and references for companies in using a spot exchange rate or rate for immediate delivery to report foreign currency transactions, present financial statements in a different currency, or translate a foreign operation.
As businesses expand and the world grows smaller, challenges start to arise, resulting to the need for the standard to evolve alongside the market demands.
Final GST Rate Change Effective 01 January 2024 - What does this mean for your Business?
Starting 01 January 2024, the second Goods and Services Tax (GST) rate increase will be in effect. One of our Tax Directors, Sharifah Nabihah Syed Mahmood has summarised a list of reminders, solutions, and preparations you can refer to for another seamless transition.
The Role of Generative AI in the Accounting Profession
With the rise of using humanoid Artificial Intelligence in the workplace, where do accountants find the balance between the benefits and doom it brings?
Why Outsourcing your Accounting Needs is the New Normal
Statutory compliance is getting stricter by the day. Along with the global economic decline, rapidly changing market demands and countless other challenges, keeping up with the standards and focusing on profit-generating areas of the business may not be an easy task.
This is where outsourcing your accounting needs to the experts may be a viable solution.
Step-by-step Guide in Incorporating to Singapore
Before maximising Singapore's rapid economic growth, the following requirements are note-worthy for a quick and continuous application process. You can prepare these by going through the list or you can assign a filing representative and expert agents who will complete the documents and processes on your behalf.
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