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Jailed for giving false information to IRAS
31/12/2020
Need help in filing proper individual and corporate tax returns? Need to file taxes ON TIME? Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Follow us at www.lnmsolutions.com Man is first person here to be jailed for giving false information to IRAS
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Likely more restructuring, insolvency cases
30/12/2020
Business environment in 2021 – more judicial management, insolvency and restructuring cases to be expected as government aid ends Needing financial consultancy on your business? You can contact us at +65 66363691, +65 93262271 or info@lnmsolutions.com! More restructuring, insolvency cases likely in 2021 as reliefs end
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Effective Date for XBRL requirements
30/12/2020
Feel free to approach us at +65 66363691, +65 93262271 or info@lnmsolutions.com if you need any secretarial services or filing or XBRL! Extension of effective date for revised XBRL requirements to 1 May 2021
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Restrictions on work from office may be eased
29/12/2020
Feel free to approach us at +65 66363691, +65 93262271 or info@lnmsolutions.com if you need any HR or payroll advisory and assistance! Restrictions on work from office may be eased in phase 3, more updates soon: Josephine Teo
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The Variable Capital Company (VCC) framework
29/12/2020
The Variable Capital Company (VCC) framework is the trend to look out for. Needing financial consultancy on your business? You can contact us at +65 66363691, +65 93262271 or info@lnmsolutions.com! Plan to tweak VCC framework to draw more single family offices
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IRAS Updates on Tax Crimes
24/12/2020
Do you need help with GST Registration? Having difficulties with GST Reporting? Approach us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com Follow us at www.lnmsolutions.com Dentist to pay $40,716 in fines and penalties for omission of income and failure to register for GST
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Fines and penalties for omitting bonus income
24/12/2020
Need help in filing proper individual and corporate tax returns? Need to file taxes ON TIME? Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Follow us at www.lnmsolutions.com Manager to pay over $200,000 in fines and penalties for omitting his bonus income
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IRAS Advisory on Scam & Fraudulent Activities
23/12/2020
BEWARE of Scam Emails purportedly from IRAS! Stay INFORMED! Follow us at www.lnmsolutions.com! Advisory on Scam & Fraudulent Activities
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Median income of SG residents fell by 6%
23/12/2020
Feel free to approach us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com if you need any HR or payroll advisory and assistance! Median income of Singapore residents fell for first time since 2004 due to Covid-19: MOM
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Wirecard auditors questioned for fraud case
22/12/2020
Wirecard’s auditors Ernst & Young (EY) questioned by German parliamentary committee over their alleged failure to spot fraud at the payments company. Needing financial consultancy on your internal process? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Wirecard auditors face German lawmakers’ ‘considerable doubts’
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Resurgence of Covid19 cases
22/12/2020
Resurgence of Covid19 cases has dampened global economic outlook for 2021. Needing financial consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! OECD cuts global forecast, warns governments need to maintain support
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Compulsory Work Injury Compensation Insurance
21/12/2020
Business Owners and Employers, do you know that you are required to take up work injury compensation insurance for staff doing manual work and for non-manual work staff earning a salary of $2,100 or less a month, excluding any overtime payment, bonus payment, annual wage supplement, productivity incentive payment and any allowance? Contact us at… View Article
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250,000 workers saw a pay cut in 2020
21/12/2020
More paycuts this year for employees in Singapore due to pandemic-hit businesses. Needing HR consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! 250,000 workers saw a pay cut between March and September
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Some employers planning to scrap bonuses
21/12/2020
Year-end Bonuses for employees may be cut or reduced by some private sector companies. Needing HR consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Some employers in Singapore planning to scrap staff bonuses this year
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MOM Investigation on Hiring Practices
18/12/2020
The Ministry of Manpower (MOM) barred employers with discriminatory hiring practices from hiring new foreigners or renewing the work passes of existing foreign staff for a period of time. Needing HR consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! More Singapore employers investigated for possible discriminatory hiring… View Article
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25% S’pore employers plans to freeze salaries
18/12/2020
Needing HR consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! 1 in 4 Singapore employers plans to freeze salaries in 2021: Survey
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S’pore economy to return to growth in 2021
18/12/2020
Singapore’s economy is expected to rebound in growth in 2021 due to very Low base in 2020. Needing financial consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! S’pore economy to return to growth next year, forecast at 4% to 6%
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iWorkHealth for health monitoring of employees
27/11/2020
An assessment tool iWorkHealth, which will be launched by MOM and made available to employers for free early next year, for health monitoring of employees. Needing consultancy on your business internal processes and controls? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! MOM to work closely with employers to manage risk… View Article
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New Tech.Pass to launch in January 2021
27/11/2020
New work pass, Tech.Pass, will be launched in Jan 2021, to attract highly skilled technology professionals in fields such as e-commerce, artificial intelligence and cyber security to Singapore. Tech.Pass will be valid for two years, with a one-time renewal for a subsequent two years that will depend on certain criteria. Applications for the pass will… View Article
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Rise in restructuring & insolvency activities
20/11/2020
The Singapore market has seen a rise in restructuring and insolvency activities amid the Covid19 environment. S’pore well-placed to meet rise in debt restructuring demand amid Covid-19
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