Details

Published: 11 May 2021

As announced at Budget 2021, the maximum support level of up to 80% will be extended for 6 months, until 31 March 2022. MRA will also be enhanced to include Trade Credit Insurance (TCI) as a supportable area under the overseas market set-up pillar with effect from 1 April 2021.

Small and medium enterprises (SMEs) will receive an international boost with the Market Readiness Assistance (MRA) grant to help take your business overseas.

Eligible SMEs will receive the following support:

• Up to 70% of eligible costs, capped at S$100,000 per company per new market* from 1 April 2020 to 31 March 2023 that covers:
  • Overseas market promotion (capped at S$20,000)
  • Overseas business development (capped at S$50,000)
  • Overseas market set-up (capped at S$30,000)

• Each application is limited to one activity in a single overseas market (e.g. market entry, or participation in a trade fair)

Eligibility

• Business entity is registered/incorporated in Singapore
• New market entry criteria, i.e. target overseas country whereby the applicant has not exceeded S$100,000 in overseas sales in each of the last three preceding years
• At least 30% local shareholdin
• Group Annual Sales Turnover of not more than S$100 million; OR Company's Group Employment Size of not more than 200 employees

There are some advantages to expand your business into Malaysia now. Please visit our Malaysia website for more information. Kindly take note that we have developed a new website for Malaysia entity and we will update Malaysia news there.

Details

Published: 16 March 2021

Filing for the Year of Assessment (YA) 2021 begins on 1 Mar 2021. If you need to submit an income tax return, please do so by the following dates.

e-Filing: 18 Apr 2021
Paper Filing: 15 Apr 2021

To e-File your tax return, log in to myTax Portal using your SingPass 2FA or IRAS Unique Account (IUA).

You can file your income tax return either via mobile phone or desktop.

Read more ...

Details

Published: 09 September 2020

• PSG will be enhanced to encourage enterprises to continue their digitalisation and productivity upgrading efforts
• The maximum funding support level will be raised to 80% from 1 April 2020 to 31 December 2020
  • Online collaboration tools
  • Virtual meeting and telephony tools
  • Queue management systems
  • Temperature screening solutions
• Who can apply?
  •  Business entities who meet the following criteria:
    • Registered and operating in Singapore
    • Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
    • (For selected solutions only) Have a minimum of 30% local shareholding
• How to apply?
  • 3 steps:
    • Access the list of supportable solutions and identify relevant solutions that best suit your business needs.
    • For IT solutions: Get a quotation from the pre-approved vendor
    • For Equipment: Source for the equipment and get a quotation from the vendor
    • Submit an application on the Business Grants Portal (BGP)
    • * You will need to register for a CorpPass account to transact on the portal.
• Pre-scoped IT Solutions
  • Please refer to https://govassist.gobusiness.gov.sg/productivity-solutions-grant/itsolution/others/
  • Solutions supported under the Productivity Solutions Grant are regularly reviewed. Do take note of the current support levels and grant caps
    •  Accounting Management and Human Resource Management System (HRMS)
    • Accounting Management and Sales Management System
    • Accounting Management, Customer Relationship Management (CRM) and Sales Management System
    • Accounting Management, Customer Relationship Management (CRM), Inventory Management and Sales Management System
    • Accounting Management, Inventory Management and Sales Management System
    • Customer Relationship Management (CRM)
    • Customer Relationship Management (CRM) and Sales Management System
    • Cyber Security - EndPoint Protection Platform
    • Cyber Security - Unified Threat Management
    • Document Management and Mobile Access System
    • EndPoint Protection Platform
    • Fleet Management System
    • Human Resource E-scheduling System
    • Human Resource Management System (HRMS)
    • Human Resource Shared Services (HRSS) Needs Analysis + HR Administrative Support & Payroll Processing via a HRMS
    • Human Resource Shared Services (HRSS) Recruitment/On-boarding
    • Inventory Management and Sales Management System
    • Inventory Management System
    • Managed Detection and Response
    • Remote Working - Online Collaboration Tools
    • Remote Working - Virtual Meeting Solution
    • Unified Threat Management
    • Video Analytics for Crowd Management
    • Visitor Management - Queue Management System
    • Visitor Management - Temperature Screening Solution

Details

Published: 06 April 2020

Announced by our Prime Minister, Mr. Lee Hsien Loong on 03 April 2020 (Friday), as part of the Government’s stricter measures to “minimise physical contact” and keep the Covid-19 pandemic in check, our Singapore Office will be shut down temporarily from 07/04/2020 (Tuesday) to 04/05/2020 (Monday). 

We will try our best to have all correspondence via email & WhatsApp during this period and we sincerely apologies for any delay in replying.

Sorry for any inconvenience caused and thanks for your understanding.

Details

Published: 12 November 2020

Corporate tax filing season 2020 for Singapore will be due very soon.

• The deadline will be on 15 December 2020.
• From YA2020, e-Filing of the Corporate Income Tax Returns (Form C-S/ C) is COMPULSORY for all companies.
• However, in light of the COVID-19 situation, companies with financial years ending in Oct 2019 to Dec 2019, IRAS is prepared to grant a 1-month extension till 15 Jan 2021 to e-File the YA 2020 CIT Returns, on a case-by-case basis by submitting the form by 27 November 2020.
• Key tax changes for YA2020:
  • A Corporate Income Tax Rebate of 25% of tax payable, capped at $15,000, will be granted for YA 2020
  • The Loss Carry-Back Relief has been enhanced for YA 2020. Companies may elect for either the current carry-back relief system or enhanced carry-back relief system for YA 2020
  • * From YA 2020, companies that qualify to file Form C-S and have an annual revenue of $200,000 or below have the option to file Form C-S (Lite), a simplified version of Form C-S.

We do provide tax computation and filing service. Please feel free to contact us at +65 – 6674 6674