The following tax changes were announced by the Minister for Finance, Mr. Heng Swee Keat, in his Budget Statement for the Financial Year 2018, which was delivered in Parliament on Monday, 19 Feb 2018. Refer to the link here For full details of the Budget Speech, please refer to the Singapore Budget website.
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ACRA has commenced its third cycle of review under the Financial Reporting Surveillance Programme (FRSP), where selected companies’ financial statements are reviewed for compliance with the prescribed accounting standards. In tandem with the review, ACRA has published the Guide on Review Procedures to share information on the FRSP review procedures with directors and management. The [...]
This Audit Practice Bulletin (APB) provides guidance and sets out ACRA’s expectations of the firms’ implementation of their Internal Policies, Procedures and Controls (IPPCs) to address money laundering and terrorist financing concerns. This APB also sets out the timeline given to the firms for compliance with EP 200 and the consequences of non-compliance with EP [...]
The Inland Revenue Authority of Singapore (IRAS) would like to remind all taxpayers, including sole-proprietors and partners, to file their income tax returns from 1 Mar to 18 Apr 2018. IRAS has also introduced several features to improve the tax filing experience this year. Greater Certainty & Planning Ahead for Your Tax Payment 200,000 taxpayers [...]