CLA Global TS Hosted Singapore Business Circle’s Seminar: Opportunities and Challenges – A C-Level Perspective
On 30 October 2024, CLA Global TS had the pleasure of hosting the “Opportunities and Challenges – A C-Level Perspective” event, organised by the Trans – Tasman Business Circle – Singapore Business Circle at our office. After an inspiring opening address by Dr. Dr Bill Foo, distinguished speakers Ms. Ley Hoon QUAH, Group Chief Corporate […]
NEW IFRS 18 Presentation and Disclosure in Financial Statements Replaces IAS 1 Presentation of Financial Statements
Article by Lim Ju May, Director, Assurance and Technical at CLA Global TS. NEW IFRS 18 Presentation and Disclosure in Financial Statements Replaces IAS 1 Presentation of Financial Statements – An overview of what is new and how it will improve financial reporting Important milestone for communication of financial performance The issuance of IFRS 18 […]
CLA Global TS Participated in Trusted Services Executive Seminar on “Strategic Planning & Technology for Better Governance
On 25 October 2024, CLA Global TS took part in the Trusted Services (a Temasek Management Services company) Executive Seminar on “Strategic Planning & Technology for Better Governance.” The event featured a keynote address by Kok Leng Soo, Chairman of Temasek Management Services, who shared valuable insights into dialectical strategic thinking inspired by Sun Zi’s […]
CLA Global TS Celebrates Its Placement as a Finalist at the STEP Private Client Awards 2024
Singapore, 23 October 2024 – CLA Global TS is proud to have been named as a finalist for the first time within the ‘Accountancy Team of the Year (Midsize Firm)’ category at the 19th Annual STEP Private Client Awards. The STEP Private Client Awards are regarded as the hallmark of quality within the private client […]
CLA Global TS Announces its Recognition as a CSA Cyber Essentials Certified Organisation
Singapore, 21 October 2024 – CLA Global TS is pleased to announce its recognition as a Cyber Essentials Certified Organisation by the Cyber Security Agency of Singapore (CSA). This certification recognises organisations with strong cybersecurity practices that have implemented essential cyber hygiene measures. Following an assessment of CLA Global TS‘s asset control, security access controls, […]
Common Reporting Standard (“CRS”) and Foreign Account Tax Compliance Act (“FATCA”) Updates
New / Updated content (as at 8 October 2024) from the Inland Revenue Authority of Singapore (“IRAS”) with respect to Common Reporting Standard (“CRS”) and Foreign Account Tax Compliance Act (“FATCA”) File and Record Level Errors. On the 8th of October 2024, the IRAS provided certain updates / resolutions to the various error codes that […]
Balancing Perspectives – To Bridge Share Purchase Agreement with Accounting Treatment
“Balancing Perspectives: To Bridge Share Purchase Agreement with Accounting Treatment” – What to look out for or consider during deal structuring? Mergers and acquisitions (M&A) refer to transactions between two companies combining in some form which usually is for several reasons, such as the unlocking of synergies, achieving higher growth, diversification, or even stronger market […]
Updates on Fund Tax Incentive Schemes – Section 13U
Section 13U Scheme (Exemption of income arising from funds managed by fund manager in Singapore) [NEW] Introduction of a “closed-ended fund” treatment as an option for non-SFO S13O, S13OA or S13U applicants Closed-ended funds are typically funds with fixed lifespans, commonly ten years, and have designated fund raising and redemption period(s) (e.g., PE and […]
Updates on Fund Tax Incentive Schemes – Section 13O and 13OA
Section 13O Scheme (Exemption of income of approved companies arising from funds managed by a fund manager in Singapore) [NEW Scheme] – Section 13OA Scheme for limited partnership (“LP”) funds With effect from 1 January 2025, the new section 13OA of the ITA will extend the S13O scheme to funds constituted as LPs registered under […]
Updates on Fund Tax Incentive Schemes – Section 13D Scheme
The asset management industry was priming for key changes to be announced when the Budget 2024 was read by then Deputy Prime Minister, Mr. Lawrence Wong. On 1 October 2024, a swathe of changes was announced, with enhancements and refinements to the existing Singapore fund tax exemption schemes (“tax incentives”) to come into effect from […]