SME Cash Grant Final Payment

SME Cash Grant to see final payment on 31 Dec 2017

ACRAConnect June 2017

"Bringing you New Bites on the latest Corporate and Audit Regulatory Developments" ACRA

ISCA becomes First Accountancy Body in Asia Pacific to be Full Member of Chartered Accountants Worldwide

"Singapore’s national accountancy body, the Institute of Singapore Chartered Accountants (ISCA), has been admitted as a full member of Chartered Accountants Worldwide (CAW), a global body of leading chartered accountancy bodies around the world. " ISCA

Amended EP 200 IG 2 Illustrative Customer Due Diligence Templates

"EP 200 Implementation Guidance (IG) 2 was developed to provide illustrative customer due diligence flowchart and templates which professional accountants and professional firms can refer to for guidance. Arising from the amended EP 200 issued in March 2017, EP 200 IG 2 has been amended to incorporate the new requirements into the customer due diligence templates and forms. In addition, enhancements have been made to make the templates more useful." ISCA

Greater Mobility, Market Access and Trade for Professional Accountants in ASEAN

"The ASEAN Chartered Professional Accountant (ASEAN CPA) enables accountants from ASEAN countries to provide non-regulated accountancy services across ASEAN, thereby facilitating trade in the region" ISCA

Singapore Signs Multilateral Competent Authority Agreements to Enhance Tax Co-operation on Exchange of Information

"On 21 June 2017, Singapore will sign the Multilateral Competent Authority Agreements ("MCAAs") on:

 the Automatic Exchange of Financial Account Information under the Common Reporting Standard ("CRS"); and

 the Exchange of Country-by-Country ("CbC") Reports." IRAS

GST Guide for Aerospace Industry

"This e-Tax Guide provides details of the GST treatment for aircraft and aircraftrelated supplies."

The summary of tentative decisions on the Conceptual Framework for Financial Reporting is now available

"In March 2017, the International Accounting Standards Board (the Board) completed redeliberations of the Exposure Draft Conceptual Framework for Financial Reporting and of the Exposure Draft Updating References to the Conceptual Framework." IASB

IASB Issues Interpretation on IAS 12 Income Taxes

"The International Accounting Standards Board (Board) has today issued IFRIC 23 Uncertainty over Income Tax Treatments to specify how to reflect uncertainty in accounting for income taxes." IFRS

Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting ("MLI")

"In line with Singapore's commitment to implement the minimum standard on preventing treaty abuse, Singapore has participated in the negotiation of the MLI. The MLI is intended to allow jurisdictions to swiftly amend their tax treaties to implement the tax treaty related Base Erosion and Profit Shifting (BEPS) recommendations. The MLI also improves on the dispute resolution mechanisms. " IRAS