Budget 2023 – Summary of Key Changes

Budget 2023 – Summary of Key Changes

Deputy Prime Minister and Minister of Finance, Mr Lawrence Wong delivered the Singapore Budget Speech on 14 February 2023, with the theme of moving forward in a new era. This follows from the 2022 theme of charting a new way forward together. Amongst changes made were...
Budget 2022 Corporate Tax Highlights

Budget 2022 Corporate Tax Highlights

The 2022 Singapore budget statement was delivered by the Minister of Finance, Mr Lawrence Wong on 18 February 2022, with the theme of charting a new way forward together. Enhancements were made with a view to building a fairer and more resilient tax system. These...
GST Updates

GST Updates

Missing Trader Fraud (“MTF”) MTF is a fraud scheme used by crime syndicates to defraud tax authorities of GST. Effective from 1.1.2021, a GST registered trader will not be allowed to claim GST input tax on supplies made to him which he knew or should have known are...
Audit Exemption

Audit Exemption

With recent amendments to the Singapore Companies Act – The Companies (Amendment) Act 2014, a significant number of companies that previously required an audit will no longer need to do so.  The audit exemption is applicable for financial years beginning on or...