Singapore Government News

Closing a business is never an easy decision, but once it’s made, it’s crucial to follow proper procedures to avoid future complications. In Singapore, companies that are no longer active or have ceased operations can apply for a strike-off with the Accounting and Corporate Regulatory Authority (ACRA). However, before submitting the application, there are several…

In the fast-evolving digital economy of 2025, financial agility is no longer a luxury — it’s a necessity. Cloud-based bookkeeping has emerged as the new gold standard for modern businesses, enabling entrepreneurs, finance teams, and accountants to access critical financial data from anywhere, at any time. But beyond just convenience, real-time access to financial information…

In recent years, Singapore’s SMEs have shown impressive adaptability and innovation in an increasingly competitive landscape. Now in 2025, a rising wave of businesses are looking beyond the island nation, propelled by strong government backing, rapid technological advances, and the urgent need to diversify amid global volatility. With economic transitions, evolving policies, and shifting global…

Tax season can be a stressful time for many, but for eligible taxpayers in Singapore, the No-Filing Service (NFS) helps simplify the process significantly. Over 1.9 million individual taxpayers are eligible for NFS in the Year of Assessment (YA) 2025, with close to 500,000 benefitting from the Direct Notice of Assessment (D-NOA) initiative. The D-NOA…

Singapore is taking bold steps towards a greener and more sustainable future with the Singapore Green Plan 2030. As climate change and environmental concerns become more pressing, businesses of all sizes have a role to play in ensuring a sustainable future. Small and medium-sized enterprises (SMEs), which make up a significant portion of Singapore’s economy,…

Singapore has emerged as a powerhouse for family offices in recent years, attracting wealthy individuals and families from around the world. As of today, 50% of Southeast Asia’s top family businesses are in Singapore. This surge in family office establishments has significantly impacted the city-state’s economy and solidified its position as a global wealth management…

SINGAPORE: The Inland Revenue Authority of Singapore (IRAS) urges all companies to submit their Corporate Income Tax (CIT) Returns by the statutory deadline of November 30, 2024. Year after year, IRAS has noted that approximately 10% of companies fail to meet their CIT filing obligations despite multiple reminders. In 2023 alone, over 4,700 companies faced…

SINGAPORE: Vijay Kumar Muvva (“Vijay”), a 48-year-old former Group Executive Director of Ensoft Consulting Pte Ltd (“Ensoft”), has become the first individual to be convicted and jailed for unauthorized collection of GST under section 64A of the Goods and Services Tax Act (Cap 117A, 2005 Rev Ed) (“GST Act”). He was also convicted for failing…

SINGAPORE: The Inland Revenue Authority of Singapore (IRAS) will begin a phased implementation of the InvoiceNow system for GST-registered businesses, starting in November 2025. This new GST InvoiceNow Requirement will initially target newly incorporated businesses that voluntarily register for GST, mandating them to use InvoiceNow solutions to transmit invoice data to IRAS for tax purposes.…

In the vibrant business landscape of Singapore, maintaining compliance with corporate governance standards is crucial. The role of a corporate secretary is indispensable in navigating these requirements, particularly when it comes to annual compliance activities. This blog will provide an overview of the annual compliance requirements for companies in Singapore, delve into the specific responsibilities…

Closing a business is never an easy decision, but once it’s made, it’s crucial to follow proper procedures to avoid future complications. In Singapore, companies that are no longer active or have ceased operations can apply for a strike-off with the Accounting and Corporate Regulatory Authority (ACRA). However, before submitting the application, there are several…

In the fast-evolving digital economy of 2025, financial agility is no longer a luxury — it’s a necessity. Cloud-based bookkeeping has emerged as the new gold standard for modern businesses, enabling entrepreneurs, finance teams, and accountants to access critical financial data from anywhere, at any time. But beyond just convenience, real-time access to financial information…

In recent years, Singapore’s SMEs have shown impressive adaptability and innovation in an increasingly competitive landscape. Now in 2025, a rising wave of businesses are looking beyond the island nation, propelled by strong government backing, rapid technological advances, and the urgent need to diversify amid global volatility. With economic transitions, evolving policies, and shifting global…

Tax season can be a stressful time for many, but for eligible taxpayers in Singapore, the No-Filing Service (NFS) helps simplify the process significantly. Over 1.9 million individual taxpayers are eligible for NFS in the Year of Assessment (YA) 2025, with close to 500,000 benefitting from the Direct Notice of Assessment (D-NOA) initiative. The D-NOA…

Singapore is taking bold steps towards a greener and more sustainable future with the Singapore Green Plan 2030. As climate change and environmental concerns become more pressing, businesses of all sizes have a role to play in ensuring a sustainable future. Small and medium-sized enterprises (SMEs), which make up a significant portion of Singapore’s economy,…

Singapore has emerged as a powerhouse for family offices in recent years, attracting wealthy individuals and families from around the world. As of today, 50% of Southeast Asia’s top family businesses are in Singapore. This surge in family office establishments has significantly impacted the city-state’s economy and solidified its position as a global wealth management…

SINGAPORE: The Inland Revenue Authority of Singapore (IRAS) urges all companies to submit their Corporate Income Tax (CIT) Returns by the statutory deadline of November 30, 2024. Year after year, IRAS has noted that approximately 10% of companies fail to meet their CIT filing obligations despite multiple reminders. In 2023 alone, over 4,700 companies faced…

SINGAPORE: Vijay Kumar Muvva (“Vijay”), a 48-year-old former Group Executive Director of Ensoft Consulting Pte Ltd (“Ensoft”), has become the first individual to be convicted and jailed for unauthorized collection of GST under section 64A of the Goods and Services Tax Act (Cap 117A, 2005 Rev Ed) (“GST Act”). He was also convicted for failing…

SINGAPORE: The Inland Revenue Authority of Singapore (IRAS) will begin a phased implementation of the InvoiceNow system for GST-registered businesses, starting in November 2025. This new GST InvoiceNow Requirement will initially target newly incorporated businesses that voluntarily register for GST, mandating them to use InvoiceNow solutions to transmit invoice data to IRAS for tax purposes.…

In the vibrant business landscape of Singapore, maintaining compliance with corporate governance standards is crucial. The role of a corporate secretary is indispensable in navigating these requirements, particularly when it comes to annual compliance activities. This blog will provide an overview of the annual compliance requirements for companies in Singapore, delve into the specific responsibilities…