Compliance

March 12th, 2020

3 Magic Word to remember Annual General Meeting and Annual Return due date with ACRA :

  • Financial Year end (FYE) date
  • 6 months from FYE
  • 7 months from FYE

ACRA NEW LATE FILING CHARGES

The following changes is ON HOLD

Click here for news release .

IRAS DIGITAL NOTICE

IMPORTANT OUTLINE

IRAS will phased out paper notice with effect from May 2021 and replace with digital notice gradually.

WILL COMPANY BE NOTIFIED ?

Yes, IRAS will send a paper notice to notify Company about this changes .

WHAT COMPANY NEED TO DO ?

Company will need to update notice preference as follow :

Up to 4 recipient will allowed to receive email notification .

WHAT IS THE BENEFIT OF DIGITAL NOTICE ?

CHANGE IN APPLICATION OF EMPLOYMENT PASS AND S PASS

  • with effect from 1 September 2020

Full Article here

Changes in Fair Hiring Consideration

What is Fair Hiring Consideration ?

Authority targeting on Hiring process to protect local talent . Job Advertising requirement was introduce on 2016.

What is the regulation ?

All company is required to advertise the job vacancy on the National Employment Portal before open to the foreigner .

What is the changes ?

With effect from 1 May 2020 , the job advertising will increase the job’ s salary to S$20,000 per month ( existing is S$15,000 per month )

ACRA NEW FILING DUE DATE

CHANGES IN EMPLOYMENT PASS APPLICATION

WHAT IS EMPLOYMENT PASS ?

  • Is a professional working pass for those monthly salary must be at least S$3600

WHAT IS THE CHANGES ?

  • Minimum Month salary will increase to S$3,900

WHEN ?

  • With effect from 1 May 2020

Click here for the self-assessment tool

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