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The Ministry of Manpower (MOM) has made changes to the Employment Act that would take effect 1 April 2014. The quick overview of amendment on the flash banner on MOM’s website states the following: Better protection for more workers Flexibility for employers Improvement employment benefits and standards Enhance enforcement and compliance   What’s Employment Act? […]

On top of our previous article, Business and Taxes in Singapore. What do I need to know?, we decided to help our busy readers who might be looking for specific information. In this post, we will provide a few quick notes about GST. What is GST? In the simplest understanding of GST, it is known

Most start-ups and even SMEs struggle with making enough dough for the first few years of operation. Why is it so? Consider the following costs for starting up and maintaining operations: Company Incorporation Opening a Bank Account Monthly Office Rental and Three-month Security Deposit Electricity Bills Telephone & Internet Bills Equipment (such as PCs, laptops,

According to the Ministry of Trade and Industry, “For the whole of 2013, the economy is estimated to have grown by 3.7 per cent. This is in line with MTI’s growth forecast of 3.5 to 4.0 per cent.” Gleaming through the press release titled, “Singapore’s GDP Grew 4.4 Per Cent in the Fourth Quarter of

With the recent Little India Riot, Singapore and the Ministry of Manpower (MOM) have been on high alert with regards to foreign talent. What sparked such violent behaviour? Could it be that these foreign workers are unhappy with their employers? An article titled Data shows worker woes ‘not an issue’ on The Straits Times, 14

What’s PIC? The productivity and innovation credit (PIC) was introduced in 2010 to encourage innovation and productivity in businesses. To be eligible for this scheme, all businesses must have employed and made CPF contributions for at least three local employees (excluding directors of the company, be it sole-proprietors, partners and shareholders), incurred PIC-qualifying expenditure (refer

While it is really easy to setup your company, it can be quite overwhelming for you when you first start out. Especially when you are more than just a mere one-man show, you need to be thinking about employment laws, be it employing locals or foreign talent. From employer obligations such as the employment act,

According to the Doing Business Project, Singapore ranks first when it comes to the “Ease of Doing Business”. Started in 2002, the Doing Business Project looks at SMEs and “provides objective measures of business regulations and their enforcement across 189 economies and selected cities at the subnational and regional level.” Going into detail of what

So from our last blog post, you learnt why it is important to engage professional company secretarial services in Singapore after you have incorporated your company. Moving forward, it is imperative that you understand the importance of taxes in Singapore and how it affects your business. Do you know that there are tax exemptions for