Category: Singapore
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Singapore: File your Annual Lodgments on time
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Penalty for late filing beyond 3 months increases to SGD600 from 14 Jan 2022 Under the new 2-tier penalty framework, the penalty for late filing of the annual lodgments will be SG300 within the first 3 months after the due date or SGD600 if the lodgment is filed more than three months after the filing…
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Singapore update: BizFile+ filing extensions and filing penalty waivers
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The Singapore Accounting and Corporate Regulatory Authority (ACRA) has extended filing deadlines and is waiving late filing penalties for a period following system slowness and intermittent disruption issues with its business filing portal, Bizfile+. In response to the concerns of Corporate Service Providers (CSPs) who had experienced difficulties filing annual returns and other transactions, ACRA has announced…
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Implementation of a Central Register of Controllers
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Singapore – With effect from 30 July 2020, all companies, foreign companies and limited liability partnerships (LLPs), unless exempted, are required to lodge with the Accounting and Corporate Regulatory Authority (ACRA) the same information that they presently continue to maintain in their Register of Registrable Controllers (RORC). This is part of ACRA’s on-going efforts to…
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New ACRA requirement for Register of Registrable Controllers (RORC)
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SINGAPORE – The Accounting and Corporate Regulatory Authority (ACRA) has said that, as 1 May 2020, all companies, foreign companies and limited liability partnerships incorporated or registered in Singapore must ensure to lodge information on their RORCs with ACRA via the ACRA’s business filing portal, Bizfile. The maximum penalty for non-compliance of the…
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Singapore announces support measures for companies
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The Accounting and Corporate Regulatory Authority (ACRA) has implemented support measures to businesses in light of the difficulties brought about by the COVID-19 situation. As some entities may have difficulties holding their Annual General Meetings (AGMs) and filing their Annual Returns (ARs) certain deadlines have been extended and guidelines issued on Temporary Measures for Conduct…
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Vietnam and Foreign Investment Structures
The British Virgin Islands, Hong Kong and Singapore provide attractive product offerings broadly characterised by cost effective incorporation and ongoing maintenance fees, a tax neutral investment platform, corporate flexibility, an English common law system that underpins the rule of law and contractual certainty, and enforcement provided by a modern and effective commercial court.
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Key Singapore legislative amendments
Singapore Key legislative amendments taking effect from 31 March 2017 The recent amendments to the Companies Act and the Limited Liability Partnerships Act, new requirements will be introduced which will affect companies and limited liability partnerships (LLPs). (a) Maintain non-public register of controllers and register of nominee directors To make the beneficial ownership and control of…