Search Results for: Singapore

StarLux Airlines, a Taiwanese premium carrier now under development, that hopes to start operations by 2020, is to focus first on short-haul flights to airports in northeast and southeast Asia, the company told Jane’s Airport Review. “We are evaluating all sort of possibilities for the choice of route for the first flight,” it said.…

THE HONG Kong financial secretary has proposed a 75% reduction of profits tax, salaries tax and tax under personal assessment for the 2017-18 assessment year, up to Hong Kong dollars HKD30,000 (USD3,820) per case. In his annual budget speech, Paul Chan also proposed widening tax bands, adding one more (HKD150,000 to HKD200,000); adjusting marginal tax rates for salaries tax; introducing a personal disability allowance; increasing basic, additional child allowances, dependent parent/grandparent allowance and additional allowance.…

AMIDST warnings from the Monetary Authority of Singapore (MAS), the country’s central bank, of a “demographic trilemma” facing the wealthy city state’s ageing workers, employers say the answer lies in creating “ageless workplaces” led by transformational changes.

An ageing population coupled with a low birth rate is set to slow down workforce growth in Singapore from 3.3% per year between 2010 and 2015, to about 1% annually from now until mid-2020s, Singapore National Employers Federation director, planning, research and information, Chua Ker Sin, told People Management.…

SINGAPORE is to levy good and services tax (GST) on imported services from January 1, 2020, to help city state e-commerce service providers compete with foreign suppliers. B2B imported services will be taxed via a reverse charge mechanism. The move was announced in the government’s 2018 budget, that was announced on February 19.…

FINANCIAL crime experts are urging Indonesia to step up its war on terror financing and money laundering highlighting the south-east Asian nation’s vulnerability to these threats. The USA state department’s 2017 International Narcotics Control Strategy Report (INCSR) noted these threats are significant despite Indonesia neither being a regional financial centre nor an offshore financial haven.…

THE MALAYSIAN government should use human resources expertise to achieve its goal of sustainably growing the country’s middle-class workforce, creating high-skilled jobs and making sure such jobs are accessible to educated Malaysians, HR specialists have argued.

Using HR expertise is important for the government – which is facing an election this year (2018) – tied as it is to an official plan to increase the size of the country’s middle class from the current 40% of the country’s 31.19 million population to 45% by 2020, according to the ‘Eleventh Malaysia Plan (2016-2020)’ launched in 2015.…

THE MONETARY Authority of Singapore (the country’s central bank) has announced plans to impose AML/CFT requirements on agents that turn virtual currencies into hard currency. The MAS is currently conducting public consultation on a proposed Payment Services Bill which would authorise powers enabling it to demand such gatekeepers screen transactions.…

It is no secret that sources of illegal proceeds of crime are manifold in the Philippines – witness President Rodrigo Duterte’s notorious campaign of state-sponsored killings, aimed at what he has claimed is an active industry of selling and trafficking illegal narcotics.…

WITH full supply chains and innovative products, Thailand’s knitwear industry is thriving, making the country a nucleus for fashion manufacturing in the Association of Southeast Asian Nations (ASEAN) region. Thai Garment Manufacturers Association (TGMA) executive director Chartchai Singhadeja said: “Thailand’s strength lies in our full-value supply chains, starting from fibres to yarns and fabrics, then apparel and clothing within the fashion industry.”…

SINGAPORE’S Accounting Standards Council (ASC) has issued the Singapore Financial Reporting Standards (International) (SFRS(I)s), the city state’s equivalent of International Financial Reporting Standards (IFRSs). This new set of rules will cover Singapore-incorporated listed company accounts for annual periods beginning January 1, 2018, and onwards.…