ACRA: New Updates on Initiatives for Singapore Filing Agents

ACRA have recently updated their guidelines therefore bringing it transparently in line with other jurisdictions. Following this, businesses will be offered a copy of their business profile and the amount of information available for public use will increase substantially.

Singapore has signed the BEPS Multilateral Tax Treaty

Singapore recently signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS).

Singapore makes amendments to its transfer pricing guidance

On January 13th, 2017, the Inland Revenue Authority of Singapore (IRAS) issued updates to its e-Tax Guide and online directive regarding the state's transfer pricing regulations.

Singapore will continue work with remaining TPP partners to find a solution

A Ministry of Trade and Industry spokesperson for Singapore has released a statement showing its commitment to continue working with other countries on the Trans-Pacific Partnership (TPP) in spite of the US’ recent talks of withdrawal.

Singapore significantly improves AML & terrorist financing measures

The FATF have recently conducted an assessment of Singapore’s AML/CTF (anti-money laundering and counter-terrorist financing) regulations. The valuation concludes a comprehensive evaluation & assessment of the efficiency of Singapore’s current system and ensures the islands level of compliance is in…

Indonesia will open Tax Haven Island to stop overseas investment in Singapore

The government based in Jakarta has released plans to reserve two Indonesian islands near Singapore for the purpose of having its own tax haven to prevent taxpayers from keeping their investments overseas in rival jurisdiction Singapore.

Singapore will surpass the UK as offshore financial centre by 2020

In the next 4 years, figures show that Singapore is projected to surpass the UK, becoming the second biggest offshore financial centre internationally, behind Switzerland, marking the shift of global wealth to the east.