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Welcome To Our Latest Newsletter

Dear Valued Clients,

   In this issue of our newsletter, we are glad to share with you the good news of our completion of yet another networking partnership agreement. We are now one step further into our expansion quest by welcoming our new member firm, SAS Smart Account Solution Co. LTD. who will represent us in the Philippines market.

   SAS Smart Account Solution Co. LTD. is a member of the International Associations of Outsourcing Professionals (IAOP) and Nordic Business Council Philippines (NBCP) with its office in Manila. Please refer to here to find out more about SAS Smart Account Solution Co. LTD.

   We are excited with this achievement and will definitely be bringing more good news to you in the new future.

   If you also have any good news in relation to your businesses, you may want to share them with us. We would be able to help you to spread the good news through our Singapore Brand channel at https://www.singaporebrand.com.sg/. Singapore Brand is a channel for SMEs to share their success stories. If you are our existing customer, this feature will be absolutely free of charge for you. We are eager to share your joy and secret with everyone else. For more information on how the sharing can be done, please feel free to submit your request at https://www.singaporebrand.com.sg/story-to-share/ and most importantly remind us that you are 3E Accounting's existing customer to enjoy the free sharing.

   On some tax related update, please take note of the cash payout rate which will be lowered from 60% to 40% for qualifying expenditure incurred from 1 August 2016. All other conditions of the scheme remain unchanged. The PIC scheme, which has been extended for YA2016 to YA2018, will expire thereafter. It will not be available from YA2019. Hence, July 2016 will be the last month to enjoy the 60% cash payout rate. Remember to claim it before you miss it. 

Stay tune with us for more exciting news again soon.

Thank you.

Stephanie Chua
Lawrence Chai
Managing Director

Latest News

  Leave Benefits and Notice Period for Term Contract Employees
Tripartite Guidelines Developed for Employers to Give Greater Clarity on Leave Benefits and Notice Period for Term Contract Employees The Ministry of Manpower (MOM), National Trades Union Congress (NTUC), and the Singapore National Employers Federation (SNEF), have jointly developed a set of Tripartite Guidelines on the Employment of Term Contract Employees. Although the majority of.. Read More

  Further extension of time for private companies to update shareholder information
Further extension of time for private companies to update shareholder information In December 2015, ACRA announced that it would be maintaining the registers of members for private companies setup in electronic form (EROM) from 3 Jan 2016 onwards. Private companies were required to update shareholder information that will be recorded in the EROM. These companies.. 
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  ASC has issued Amendments to FRS 115
Updates from ASC – ASC has issued Amendments to FRS 115 ASC has issued Amendments to FRS 115: Clarifications to FRS 115 Revenue from Contracts with Customers. Please visit Financial Reporting Standards Changes effective for annual periods beginning after 1 January 2016 for information.. To prepare employers and employees for this change in the re-employment landscape, the Tripartite Committee on the Employability of Older Workers (Tricom) has issued... Read More

Double Taxation   Clarification on When Tax Clearance is Not Required
Clarification on When Tax Clearance is Not Required Tax clearance is where the employer ensures that a non-Singapore Citizen employee who ceases employment in Singapore or plans to leave Singapore for more than three months pays all his taxes. As an employer, it is your responsibility to notify IRAS and seek tax clearance for the..
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International Accounting Standards   Tripartite Guidelines on Managing Excess Manpower and Responsible Retrenchment
Tripartite Guidelines on Managing Excess Manpower and Responsible Retrenchment The Singapore economy is highly exposed to global trends and companies often find that they have to restructure to stay competitive. As businesses adjust, they should consider alternative ways of managing their excess manpower such as upskilling employees and redesigning jobs. However, if retrenchment is inevitable,…

Read More

Singapore Public Holiday 2017   MOM has published the Singapore Public Holidays 2017 on 5 April 2016
MOM has published the Singapore Public Holidays 2017 on 5 April 2016 The dates of the 11 gazetted public holidays for 2017 are as follows: New Year’s Day 1 Jan 2017* Sunday Chinese New Year 28 Jan 2017 29 Jan 2017* Saturday Sunday Good Friday 14 Apr 2017 Friday Labour Day 1 May 2017 Monday...
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Press Release

3E Accounting Live Interview on 95.8FM Read More

3E Accounting was ranked second in the category of the top 5 e-Filing Tax Agent Firms with the most improved C-S/C e-Filing rate in YA 2015. Read More
Notice of Holiday

Hari Raya Puasa

Our office will be closed on 6 July 2016 for Hari Raya Puasa Public Holiday.

We will be operating on 7 July (Thurs) onwards.

Dear Clients,

Our directors and staffs will
have no access to the email during these period and all
email will be attended to once we are back to the office on the next working day. We apologize for any
inconvenience caused.

Company Compliance
For more information about Company Compliance, Please click here. (i.e. GST registration and CPF contribution and other requirements).

Hiring Staff in Singapore
For Guide to Hiring Staff in Singapore, please click here.

Corporate Income Tax Submission Deadline
Kindly remind that the deadline for submission of your Company's Form C / Form C-S for the Year of Assessment 2015 is on 30 November 2016.

Productivity and Innovation Credit (PIC)
Under the Productivity and Innovation Credit (PIC) scheme, your business can enjoy: - 400% tax deductions/ allowances and/ or - 60% cash payout For more information, please see PIC Bonus in Singapore

GST Registration Obligation
All Singapore companies must register for GST if their annual taxable revenue is more than S$1 million, or if their current taxable income and annual taxable revenue is expected to be more than S$1 million. The business must register for GST within thirty days from the time it is deemed liable.

Withholding Tax Obligation
Under the law, when a person or a company makes payment(s) of a specified nature (for example, Royalty, Interest, Technical Service Fee, etc) to a non-resident company or individual, he/she is required to withhold a percentage of that payment and pay the amount withheld to IRAS. The amount withheld is called Withholding tax. Kindly be reminded that it is our Company's policy that you must engage our withholding tax reporting services if you are engaging our nominee director services.

Tax Planning
Looking for tax savings method for Personal and Company, please refer to:
Click here for more Resources

Awards and Milestones

3E Accounting
3E Accounting Pte Ltd
51 Goldhill Plaza #07-10/11
Singapore 308900
+65 6690 9262
Copyright © 2016 3E Accounting Pte. Ltd., All rights reserved.

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