Articles in Singapore

  • Unifying Accounting treatment of Leases

    The Financial Accounting Standards Board (FASB) of USA and the International Accounting Standards Board (IASB) have been collaborating in an effort to eventually unify accounting standards worldwide. FASB and IASB long term plan is for the convergence of the differing accounting standards currently used around more

  • Amendments to Patent Act in Singapore

    As of February 14, 2014, the Amended Patents Act went into effect. This essentially made it necessary for the subject matter of the pending patent application to meet several different criteria regarding its inventiveness, novelty and purposefulness in the industry in which it will be more

  • Amendments to Goods and Services Tax in Singapore

    In November 2013, the Goods and Services Tax Amendment passed in Singapore. The Amendment, also known as the “Bill,” will result in several changes to the Singapore Goods and Services Tax that will affect both taxpayers and tourists. Anyone living in or visiting Singapore or more

  • How to Reduce Share Capital

    Running a company is not easy and if you own one in Singapore, then you might be faced with the decision to reduce the share capital should certain circumstances crop up, here are some scenarios which may warrant such a move: Your shareholders wish to more

  • True and Fair Presentation

    In recent months, the IFRS, or International Financial Reporting System, has come under scrutiny in the UK. In a nutshell, it is believed that businesses are not providing “true and fair” statements regarding their earnings and expenditures following their registration, something that could have a more

  • How to Register a Society

    A society is nothing more than a group of people who share similar interests. These people often form clubs, organizations or partnerships in order to socialize, discuss and participate in activities. If you are interested in learning how to register a society, you might be more

  • Patent and Trademarks

    Intellectual Property, or IP, can be defined as the manifestation of ideas into a physical form such as original music, works of literature, new technological solutions, revolutionized industrial processes and new inventions. It is classified as an intangible form of asset. Intellectual Property Rights refer more

  • What You Don't Know About The Intangibles

    The Intangibles of M&A Deals Economies are slowly recovering and companies, last year, made quite a few mergers and acquisitions to mark the post-2008 financial recovery. One of the biggest mergers and acquisitions in 2012 were the acquisition of Fraser & Neave in Singapore by more

  • Tax Transparency – Exchange of Information

    As the commercial world becomes more closely knit and globalised, there is an urgent need for the tax administrations in each country to ensure that taxpayers pay the right amount of tax for income that arise in their jurisdiction. Cross border operations are now the more

  • Transfer pricing issues in Singapore

    Introduction As the business environment becomes more complex, there is a need for organizations to expand beyond traditional boundaries. It is not uncommon for businesses to have operations in various countries and jurisdictions. For example one company may have a manufacturing base in China, a more

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