Blog
MAS to broaden scope of crypto rules
28/07/2022
The Monetary Authority of Singapore (MAS) is targeting to consult on its proposed measures around September or October this year to broaden the scope of cryptocurrency regulations to cover more activities and possibly tighten retail investors’ access to the digital tokens. Singapore will likely see an increase in the number of entities that require licensing…. View Article
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Senior Worker Early Adopter Grant
21/07/2022
The Retirement and Re-Employment Age in Singapore has been raised to 63 and 68 respectively on 1 July 2022. These will be raised to 65 and 70 respectively by year 2030. Companies can look into applying for Senior Worker Early Adopter Grant. This grant aims to incentivise and encourage companies to raise their own internal… View Article
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Delay in implementation of the global minimum tax
20/07/2022
Delay in implementation of the global minimum tax. The global tax revolution for tech giants is delayed to 2024
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Raising of CPF rates for senior workers
09/07/2022
To strengthen senior workers’ retirement adequacy, the Tripartite Workgroup on Older Workers recommended the CPF contribution rates for senior workers aged above 55 to 70 years to be raised gradually to boost their retirement incomes. The next CPF rate raised for this age group will take place with effect from 1 Jan 2023. Contact us… View Article
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MAS core inflation is projected to average 2.5–3.5%
08/07/2022
MAS core inflation is projected to average 2.5–3.5% in 2022. Are you managing your costs and cashflow adequately? Do you have timely financials for your business planning? Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #MAS #Inflation
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Director who evaded paying over $1m in GST fined & jailed
07/07/2022
Need professional and affordable help to properly declare your GST? Please contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Director of freight forwarding company who evaded paying over $1m in GST fined $4.4m, jailed #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #GST #Fines
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Jail for director who evaded S$172k in taxes
28/06/2022
Report your taxes promptly and accurately. Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com for assistance. Jail for company director who evaded S$172,000 in taxes, spent ill-gotten gains on new condo and car #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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Man misappropriating over $1.7m from employer
24/05/2022
Need to outsource your accounting function? Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Man admits to misappropriating over $1.7m from employer #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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Additional Buyer’s Stamp Duty (ABSD)
18/05/2022
Transfers of residential properties into a living trust will be subject to an additional buyer’s stamp duty (ABSD) of 35 per cent with effect from 9 May 2022. A living trust is created by an individual during his lifetime, where a designated person, the trustee, is given responsibility of managing that individual’s assets for the… View Article
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Shared Services Grant for Charities & IPCs
10/05/2022
Good news for you! You can now apply for the Shared Services Grant under the Charities Capability Fund (CCF) (formerly known as VWOs-Charities Capability Fund (VCF)) which provides co-funding of up to 50% for charities to outsource your corporate functions such as payroll, finance, accounting, human resource and information technology functions to third-party service providers… View Article
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