Micro News

Pursuant to Singapore legislation, all local companies (with some exceptions) are obliged to submit a previous-year estimated profit declaration to tax authorities within 3 months after the end of each financial year. The definition of this Singapore declaration is “Estimated Chargeable Income” (ECI). Based…


In Singapore, VAT is called “Goods and Service Tax” or GST for short. (Let’s stick to this term so that it’s easier for a reader to understand what it is all about). The country’s tax regulations oblige local companies to register for the local type of VAT only in case the taxable turnover exceeds SGD$1m. It…


The EU Commission is preparing to implement new anti-money laundering measures. New legislative acts are intended to define a single-standard term and definition of ‘money laundering’ in all EU countries; which still lack a common interpretation. For some countries, criminal liability for self-laundering…


Although both India and Singapore are far away from Russia, Ukraine and Kazakhstan, and this news might seem of no interest to some readers, it is quite the opposite. Like Cyprus for Russia, Singapore is one of the major investors to India. Apparently, Indian businessmen use Singapore to further invest…


Apparently, the requirement to put together a Beneficiary Register will be imposed on all jurisdictions that have endorsed the automatic exchange of information. The request was announced during the latest ACRA conference as a part of the new regulations for service-providers in the sphere of offshore…


During a conference last week, representatives of ACRA (the public authority in charge of company registering) announced that Singapore would spare no effort to avoid being listed as a tax haven. This means the compliance requirements to service providers will become more rigorous, and the implementation…



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