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Category: business

Where business made easy

Jobs Support Scheme.

JSS was first introduced at Budget 2020 and was further enhanced at the Resilience and Solidarity Budgets. Apart from providing cash flow support, the scheme hopes to help businesses retain workers during this period. Under the Jobs Support Scheme, businesses will receive wage support for the first $4,600 of gross monthly wages paid to their…
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How to Hold AGMs Amid COVID-19 in Singapore

Holding AGMs during COVID-19 AGMs can be held remotely until 30 September 2020. It’s AGM season again and despite the COVID-19 outbreak, the meetings must still go on – but in a safe way, of course.

Shareholder Rights in Singapore Private Companies

You are a shareholder if you own shares in publicly-listed companies (acquired through the stock exchange) or shares in a private company (e.g. when your friend starts a small business and you invest in it, in exchange for part-ownership). Being a shareholder confers a number of rights, and this article will explain what these are.…
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Collect, Use, Disclose NRIC Numbers From Sept 1 – May Face Up To S$1M Fine

Speaking a second language is a valuable skill. There are plenty of opportunities for translators or interpreters, many of which won’t even require leaving your home. Per PayScale, you could earn an average of $20 an hour just for leveraging the knowledge of a language you already have. Feel like you’re retired with one of…
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NOTICE FOR PERSONS WHO KNOW CONTROLLERS Date of notice: [Date that the notice is sent] Dear [Addressee], We know or have reasonable grounds to believe that you know or have reasonable grounds to know the identity of a person who is a registrable controller of [name of company or foreign company] or is likely to…
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Proposed amendment to the Accountants Act

The proposed amendment to the Accountants Act, they added, is to clarify existing provisions. To reduce the regulatory burden and improve the ease of doing business, changes have been proposed to rules governing the holding of annual general meetings (AGMs) and the filing of annual returns by companies. It has been suggested that the timelines…
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maintain registers of controllers -new

Locally incorporated companies and foreign companies registered in Singapore will be required to maintain registers of controllers at prescribed places. A controller, or beneficial owner, is the individual or legal entity that has more than 25 per cent interest in or control over a company. “Companies will be required to take reasonable steps to identify…
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Revision to Filing Requirements for Financial Statements in XBRL

(ACRA) Who needs to file and who is exempted from filing XBRL Under the revised XBRL filing requirements taking effect from 22 October 2013, Singapore incorporated companies which are either unlimited or limited by shares required to file their financial statements with ACRA will be required to file a full set of financial statements in…
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Group opens up offshore bank account database online

WASHINGTON: A massive database of private offshore banking entities that could be used for tax evasion was posted online for public use on Friday by the muckraking group that first reported the files. The International Consortium of Investigative Journalists said anyone can now search the records of some 100,000 companies, trusts and funds located in…
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Number of millionaires in S’pore increase by 10%

SINGAPORE: The number of millionaires in Singapore increased 10.3 per cent to reach 101,000 last year, revealed a new wealth report by Capgemini and RBC Wealth Management. The survey tracks high-net-worth individuals with investable assets of US$1 million or more. The collective wealth of the super-rich in Singapore also expanded by over 11 per cent…
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