Financial Reporting Practice Guidance No. 1 of 2018 and Guide on FRSP Review Procedures January 3, 2018 "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." ACRA
ASC has issued Amendments to FRS 109 and FRS 28 January 3, 2018 "ASC has issued Amendments to FRS 109: Prepayment Features with Negative Compensation and Amendments to FRS 28: Long-term Interests in Associates and Joint Ventures." ISCA
ASC has issued Singapore Financial Reporting Standards (International) (SFRS(I)s) January 3, 2018 "SFRS(I)s comprise Standards and Interpretations that are equivalent to International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board (IASB)." ISCA
eTax Guide GST: Clarification on “Directly in Connection With” and “Directly Benefit” (Third edition) November 13, 2017 "This e-Tax guide1 provides guidance on the interpretation and application of the two expressions, “directly in connection with” and “directly benefit” used in certain provisions on the zero-rating of services." IRAS
ACRAConnect October 2017 November 13, 2017 "Bringing you News Bites on the latest corporate and audit regulatory developments" ACRA
Grants You Can Use for Your Business November 12, 2017 "SMEs are always in need of funding and the Singaporean Government is constantly looking to help growing business owners, find out what grants you can earn today." SME Portal.Sg Alpha7 Priscilla Su
e-Tax Guide on Avoidance of Double Taxation October 13, 2017 "This e-Tax Guide provides taxpayers with guidance on (1) The interpretation and application of Singapore’s DTAs; and (2) The mutual agreement procedure (MAP) under Singapore’s DTAs. 1.2 This e-Tax Guide is relevant to you if you have cross-border transactions with or investments in a jurisdiction that has a DTA with Singapore." IRAS
Inward Re-domiciliation regime to take effect from 11 October 2017 October 11, 2017 "To further boost Singapore’s competitiveness as a business hub, an inward re-domiciliation regime will take effect from 11 October 2017." ACRA
Audit Firms Show Improvements in Audit Quality October 3, 2017 "ACRA's latest Practice Monitoring Programme (PMP) annual report on audit inspections observed noticeable improvements in audit quality. This is significant as investors rely on high quality audits to assure themselves of the quality of financial information. To further raise audit quality standards for the accountancy sector, the Ministry of Finance and ACRA are embarking on a review of the Accountants Act, to ensure that the audit regulatory framework remains robust and progressive." ACRA
