Search Results for: Singapore
10 results out of 893 results found for 'Singapore'.
ASIAN REGULATORY ROUNDUP – SINGAPORE TAX COLLECTORS USE POWERS OF ARREST FOR FIRST TIME
THE INLAND Revenue Authority of Singapore (IRAS) has for the first time used powers of arrest, in October and November raids, holding 10 suspected members of a crime syndicate, suspected of operating a GST carousel fraud. Chains of sales and purchases have ended in goods disappearing or being exported, with dishonest participants claiming input tax for GST, which is ultimately never paid to the government.…
UNCERTAINTY FOR NEW ZEALAND’S BARQUE PROJECT AFTER THE COUNTRY’S OIL AND GAS BAN
A few years ago, New Zealand Barque oil and gas prospect was rated as one of the most promising exploratory reserves in the world. The decision by New Zealand’s Labour-New Zealand First-Greens coalition government decision last April (2018) to ban any new offshore exploration permits has, however, complicated any future operations at the Barque, east of NZ’s South Island.…
AML DATA AGGREGATION WILL BECOME MORE ATTRACTIVE, AS TRUST BUILDS IN AI SOLUTIONS
Aggregated data on shared utility platforms operating across global financial services would “remove banks’ fiefdoms, internal silos that stop them from making the KYC process more informed” and “reduce the risk of bad actors entering the financial system through a weak link,” a report from financial services technology providers Celent, in Boston, USA, has claimed.…
WORK ON SAFETY STANDARDS FOR EMERGING AUTONOMOUS VEHICLES IS NEEDED, INTERNATIONAL CONFERENCE TOLD
THE DEVELOPMENT of uniform safety standards to help reduce the number of reputation-damaging accidents occurring as automated vehicles are rolled out commercially is of key importance, a CAV Canada conference (connected and autonomous vehicles) in Canada has been told.
Sasha Ostojic, a board member of California-based autonomous vehicle company Zoox, and a former senior vice president engineering at GM’s Cruise Automation, said of the current American system, where manufacturers are protecting their CAV IP and not sharing safety information: “I truly think this is a problem.…
NEW FINTECH SERVICES DEVELOP FAST ANTI-FRAUD CHECKS THAT DELIVER SECURITY AND SWIFT CUSTOMER SERVICE
A harmonisation of regulatory frameworks and increased sharing of data between financial institutions may help overcome the “metronomic tension” within financial businesses balancing effective fraud detection and low user friction, say experts. With more challenger banks delivering services, real-time checks based on artificial intelligence (AI) and robotics may ensure the speed customers expect in digital transactions does not compromise security, including during onboarding.…
CHINA’S FINANCE MINISTRY PLOTS LAW PUNISHING LAW BREAKING ACCOUNTANTS
CHINA’S ministry of finance drafted regulations punishing accountants violating national accounting laws. Proposals under public consultation would include blacklisting accountants found guilty of fabricating, hiding or destroying financial reports, books and documents, or telling other accountants to undertake such malpractice. Accountants involved in embezzlement would suffer the same fate.…
ASIAN REGULATORY ROUND UP – HONG KONG GOVERNMENT RELEASES TAX BREAKS TO BOOST ECONOMY DURING ONGOING TURMOIL
HONG Kong’s government has released tax measures to support an economy buffeted by political protests, the US-China trade war and headwinds from a potential hard Brexit. Its financial secretary announced that 27 groups of government fees and charges would be waived for 12 months to benefit sectors including maritime, logistics, retail, catering, tourism, construction, agriculture and fisheries businesses.…
ASIAN REGULATORY ROUND UP – HONG KONG GOVERNMENT RELEASES TAX BREAKS TO BOOST ECONOMY DURING ONGOING TURMOIL
HONG Kong’s government has released tax measures to support an economy buffeted by political protests, the US-China trade war and headwinds from a potential hard Brexit. Its financial secretary announced that 27 groups of government fees and charges would be waived for 12 months to benefit sectors including maritime, logistics, retail, catering, tourism, construction, agriculture and fisheries businesses.…
SOUTHEAST ASIA’S AUTO SECTOR STYMIED BY BURGEONING TRADE RED TAPE, EXPERTS WARN
REMOVING non-tariff-barriers (NTBs) impeding the trade in automobiles, parts and materials between the 10 member countries of the Association of Southeast Asian Nations (ASEAN) is key to unlocking the regional automotive industry’s full potential, experts argue. However, they agree that such moves cannot be achieved without short-term pain.…
CONSUMERS IN SOUTHEAST ASIA’S GROWING BEAUTY MARKET DEVELOP INCREASINGLY SPECIALISED TASTES
SOUTH-EAST Asia’s beauty and personal care product market continues to grow, with more mature markets in the region demonstrating an increasing preference for natural products.
As might be expected, consumers in the wealthy city state of Singapore are especially keen to spend more money on lines with natural ingredients.…