Singapore Global Minimum Tax — Compliance Readiness for MNE Groups
Singapore’s Global Minimum Tax framework is now a live compliance issue for in-scope multinational enterprise groups. With the Multinational Enterprise (Minimum Tax) Act 2024 taking effect for financial years beginning on or after 1 January 2025, affected groups...
IASB Issues IFRS 20 for Companies Subject to Rate Regulation
The International Accounting Standards Board has released IFRS 20, a new standard addressing financial reporting by entities operating under certain forms of rate regulation. The standard is effective for annual reporting periods beginning on or after 1 January 2029,...
Case Study: Embracing AI in an Accounting and Audit Firm
Background A mid-sized accounting and audit firm, Lim & Partners Advisory (invented firm name) had been serving small and medium-sized enterprises for more than 15 years. The firm provided statutory audit, tax compliance, accounting, payroll, and advisory...
AI Adoption – Empowering Your Business for the Future
The adoption of artificial intelligence is moving beyond basic experimentation into structured workforce and business transformation. While many businesses have started using AI tools for productivity, the next stage requires stronger workforce readiness, clearer...
Building a Stronger Data Protection Foundation
Data protection and cybersecurity are no longer optional support functions. They are now core business controls that protect customer trust, operational continuity, regulatory compliance, and organisational reputation. As cyber incidents, ransomware, unauthorised...
GST InvoiceNow Reporting to IRAS to Be Rolled Out in Phases from November 2025
GST-registered businesses in Singapore will progressively be required to transmit invoice data to IRAS through InvoiceNow-ready accounting or finance solutions. The obligation will be phased in from 1 November 2025 to 1 April 2031, depending on the business’s GST...
Are Your Ready for GST InvoiceNow, #SFFS, Payroll Integration and Digital Compliance
Singapore’s business compliance environment is moving steadily towards digital filing, structured e-invoicing and software-driven automation. This shift means that accounting, payroll and invoicing systems should no longer be viewed only as back-office tools. They are...
Substainability to an Accounting Practice – From a Small Practice Owner Perspective
To many small accountancy practices, the word “sustainability” not only refers to environmental responsibility, but one that can remain profitable, resilient, relevant, and valuable to clients over the long term. From the perspective of a small practice, one important...
Practical Supplement: Actionable Steps to Advance Sustainability Performance
Building on the four-part series on substaintability business, this practical analysis draws on observed successes and recurring challenges across organisations of all sizes. These steps are designed for immediate implementation, regardless of an organisation’s level...
IRAS Proposes Mandatory Digital Filing for Corporate Tax Assessment Revisions and Objections from 1 July 2027
The Inland Revenue Authority of Singapore (IRAS) is proposing to require all companies to submit corporate income tax assessment revisions and objections through its Revise/Object to Assessment digital service from 1 July 2027. The proposal is expected to be subject...