Year: 2018

Value Accounting provides Proper Business advice

ST: Vital to get proper advice from accountants Dr Desmond Wai suggested that appropriate action ought to be taken against accountants who provide improper advice to medical practices leading to a prosecution in court or a fine by the Inland Revenue Authority of Singapore (Iras) (Most doctors act on advice of consultants and accountants; Oct …

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Iras recovers Millions from high-earning tax avoiders – doctors, lawyers, property agents

The Singapore tax authorities, Iras, is clawing back millions of dollars in back taxes from high earners such as doctors, property agents and lawyers who avoided paying their proper dues. Still only in their preliminary enforecement, already 10 million has been recovered from them including taxes that they should have paid in the four previous …

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Tax Evasion! Penalties can be lowered if doctors own up

Highlighting high-earning medical professionals who might be guilty of tax evasion, the Inland Revenue Authority of Singapore (Iras) has urged doctors to own up voluntarily with the promise of lower penalties. The Singapore Medical Association (SMA) met members of the SMA last month and published an article, Useful Tax Pointers for Medical Practitioners, in their newsletter. …

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Pay without account details & make seamless Transactions by Paynow Corporate

Introducing PayNow Nine participating banks in Singapore have adopted PayNow, a peer-to-peer funds transfer service available to retail customers: Bank of China Citibank Singapore Limited DBS Bank/POSB HSBC Industrial and Commercial Bank of China Limited Maybank OCBC Bank Standard Chartered Bank UOB. Offering an enhanced funds transfer experience, Paynow enables retail customers of the nine …

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Amendments in Statutory Requirements for AGM and Filing of Annual Return with ACRA

Amendments in Statutory Requirements for AGM and Filing of Annual Return with ACRA With the aim to make Singapore maintain its position as an economically competitive and business-friendly country, there have been certain legislative changes relating to Annual General Meetings (“AGMs”) and Annual Returns (“ARs”) timelines to alleviate the regulatory burden with effect from 31 …

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