Outsourcing
An outsourcing partner that helps you play to your strengths.
You will find insights on various topics by our Mazars Outsourcing professionals. For more information, please contact Chris Fuggle, our Head of Outsourcing.
Corporate secretarial compliance in Singapore: Setting your Private Limited Company up for success #SetUpforSuccess
Ensuring compliance is essential for all companies, not just the ones listed on the stock exchange. The corporate environment is constantly evolving, making the challenges of corporate governance in the privately held business sector greater than ever.
Unlocking trust: why global compliance is on the Singapore business agenda
Compliance has long been a cornerstone of good business practice. But it can still be viewed as an obligation to be met rather than a driver of value. That’s why we conducted a survey of how business leaders approach global compliance, including where they focus investment, the risks they anticipate and what they expect from ‘good compliance’.
SSIC Code Conversion Exercise
The Department of Statistics has recently introduced the fourteenth edition of the Singapore Standard Industrial Classification (SSIC). SSIC is the national standard for classifying economic activities undertaken by economic units and is used in censuses of population, household and establishment surveys and in administrative databases.
Work pass holders, dependants from higher-risk places can enter Singapore from Aug 10 if fully vaccinated
From 10 August 2021, work pass holders and their dependants with travel history to higher risk countries/regions can start applying for entry approval, on the condition that they must be fully vaccinated before arrival in Singapore.
New M FIN series to be introduced from 1 January 2022
The Immigration & Checkpoints Authority (ICA) will introduce a new Foreign Identification Number (FIN) series with the prefix M from 1 January 2022.
Increase in CPF contribution rates for employees aged between 55 and 70 from 1st January 2022
In line with Singapore long-term goal of improving retirement adequacy, the Singapore Government has announced progressive increases to CPF contribution rates for both employees and employers.
COVID-19: Singapore stops accepting new entry applications for work pass holders from higher-risk countries
The Ministry of Manpower (MOM) will be making changes to the entry of work pass holders who have earlier obtained approvals to arrive from higher risk countries/regions from Tuesday 11 May 2021 onwards. As of 7 May 2021, high risk countries/regions refer to all countries/regions except Australia, Brunei Darussalam, Mainland China, New Zealand, Taiwan, Hong Kong and Macao.
What you need to know about Intra-Corporate Transferees (ICT)
Intra-corporate transferees (ICT) are employment pass (EP) holders, and must have worked for their company for at least one year before being posted to the branch, affiliate or subsidiary in Singapore.
Revised ACRA Penalty Framework For Annual Lodgements
With effect from 30 April 2021, ACRA will implement a 2-tier penalty framework for filing of annual return and annual declaration for all companies (including VCC) and limited liability partnerships (“LLPs”) as below:
The Launch of Tech.Pass in Singapore to Attract Highly Skilled Technology Professionals
The Economic Development Board (EDB) has announced that a new work pass called Tech.Pass will be launched next year. The target is top-tier foreign tech professionals and experts looking to start businesses, lead corporate teams or teach here. EDB is seeking to attract highly skilled technology professionals in fields such as e-commerce, artificial intelligence and cyber security.