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Extended FWL Waiver and FWL Rebate
17/08/2020
MOM has announced that all firms in the construction, marine shipyard and process sectors will be receiving a 100 per cent waiver for levies due in July to September (extended to September 2020). The $375 foreign worker levy rebate paid to such firms will also be extended from July to September. S$320m set aside to… View Article
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National Wage Council – Wages Recommendations
17/08/2020
National Wage Council meeting again for second time this year to review new recommendations for wages in the midst of Covid19 economic crisis, in attempt to save jobs. National Wages Council to reconvene this year amid Covid-19’s rising toll on Singapore jobs
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SG United Mid-Career Pathways Programme
14/08/2020
For companies looking to offer Attachments for Mid-Career Singaporeans and Permanent Residents, do consider signing up for SG United Mid-Career Pathways Programme. Under this programme, the Government will fund 80% of the training allowance, while the host organisation funds the remaining 20% for the programme duration. #SGUnited SGUnited Mid-Career Pathways Programme – Enterprise Attachment Track… View Article
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Manpower issues in construction sector
14/08/2020
Construction sector in Singapore faces continued manpower issues Manpower issues pose biggest roadblocks for construction firms seeking to resume business amid Covid-19 pandemic
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Non-compliance of Income Tax & GST Laws
08/08/2020
Need help complying with Income Tax and GST laws? Approach us for a free consultancy at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Used Car Dealer Abetted Company to Understate over $6 million of Income
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MAS fined International trust Asiaciti Trust
07/08/2020
Case: International trust Asiaciti Trust fined by MAS for poor controls against money laundering and terrorism financing. Internal controls and proper cashflow management are very important for any corporate companies and businesses. Contact us at at +65 66363691, +65 9326 2271 or info@lnmsolutions.com for timely consultancy. Asiaciti Trust fined S$1.1m for poor money-laundering controls
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COVID-19 Support Measures and Tax Guidance
07/08/2020
Updated Tax Guidance on COVID-19 Support Measures: COVID-19 Support Measures and Tax Guidance
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Singapore Job Market Situation
07/08/2020
“Without the SGUnited Jobs and Skills programme, the local job market conditions would have likely deteriorated faster,” said OCBC Bank head of treasury research and strategy Selena Ling. Experts fear worst may be yet to come in S’pore job market
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Responsible Retrenchment Practices
06/08/2020
Fair Retrenchment Framework proposed on three key principles: protecting the Singaporean core of the workforce, preserving jobs and providing job support. NTUC calls on firms to observe responsible retrenchment practices, keep Singaporean core
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Register of Registrable Controllers (RORC)
06/08/2020
Under the law, all companies, foreign companies and LLPs, unless exempted, are required to file the information in their existing RORC with ACRA’s Central Register of Controllers, within 30 days from 30 July 2020. In view that Singapore has just exited the Circuit Breaker and to assist business entities to ease into the resumption of… View Article
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Incorrect Declaration of Directors’ Fees
05/08/2020
We can help you ensure your corporate tax and individual tax are properly filed to IRAS! Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Investment Company and its Director Fined for Incorrect Declaration of Directors’ Fees in Tax Returns
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Financial Reporting Practice Guidance
05/08/2020
Important Guidance to Directors (And Accountants) : Impact of Covid19 Pandemic on Financial Statements Financial reporting practice guidance no. 1 of 2020 (issued on 22 may 2020) – Proposed areas of review focus by directors on the financial statements affected by the covid-19 pandemic
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Reaching Out to Retrenched Workers
04/08/2020
Companies can try to be onboard SGUnited Jobs and Skills Package to offer traineeships and jobs with subsidies from government. Retrenched workers: Govt will be generous with support but firms also need to ‘play ball’, says Tharman
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Non-compliance of Income Tax & GST laws
04/08/2020
Need help with compliance to Income Tax and GST laws? Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com for prompt assistance. Two Directors of Plastic Cards Company Convicted for Income Tax Evasion and Failure to Register for GST
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Best World’s Shares Remain Suspended
03/08/2020
Case: Auditors gave disclaimer of opinion on Best World’s financial statements for FY2018. Best World must address concerns over accounting practices: SGX
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Assistance and Upskilling Programmes
03/08/2020
Government schemes to boost employability of local workforce: What help is there?
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Worst-Ever Quarterly Fall in Employment
03/08/2020
Big quarterly fall in employment even as the Covid19 pandemic takes its toil on businesses and layoffs increase: Singapore sees worst-ever quarterly fall in employment in Q2 as retrenchments double: MOM data
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Unfair Retrenchment Process
02/08/2020
Fair retrenchment process needs to be practised, even amidst the economic storm caused by Covid-19: NTUC, unions stepped in to stop unfair retrenchment by aircraft maintenance firm; industry action averted
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SG United Jobs Traineeships Scheme
01/08/2020
SG United Jobs Traineeships Scheme: Mid-career job seekers can apply for more than 13,000 work attachments from Aug 1
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Non-compliance of GST laws & regulations
01/08/2020
GST Compliance causing you a headache? Outsource your problems to us! Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com for proper lodgement and registration of GST. Restaurant Director Convicted of Unlawful Collection of GST and Failure to Register for GST
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