ASH NEWS BITES
APRIL 2024 EDITION
IN THE SPOTLIGHT
Johor-Singapore Special Economic Zone (JS-SEZ)
Johor-Singapore Special Economic Zone (JS-SEZ) is taking shape with the signing of a MOU between Malaysia and Singapore. MOU signing is witnessed by PM Lee Hsien Loong and Malaysian PM Anwar Ibrahim on Jan 11, 2024.
The JS-SEZ is expected to further boost trade between Johor and Singapore. The special economic zone is also expected to improve the business ecosystems of both the Iskandar Malaysia region and Singapore.
Among the sectors that the zone is targeting are electronics, financial services, business‑related services and healthcare.
BLOG OF THE MONTH
The Significance of Notice of Assessment (NOA) in Taxation
Did you know that the Notice of Assessment (NOA) from the Inland Revenue Authority of Singapore (IRAS) is not just a document informing how much tax you have to pay? Yes, the NOA is a highly significant document that plays a crucial role in the payment of income taxes in Singapore but there is more to it than just that!
Dive deeper into its importance in Singapore’s tax system!
NEWS AND INFO
IRAS Given Greater Powers to Administer Government Grants, Investigate Fraud and Abuse
The Inland Revenue Authority of Singapore (IRAS) was given more powers on Friday to administer public schemes for and on behalf on the government and other statuary bodies.
This formalises its role as a grant disbursement agency alongside its current role as tax administrator.Money Laundering Accused Su Haijin Faces 12 New Charges for Fraud
Money laundering accused Su Haijin was on Monday (Apr 1) handed 12 new charges for allegedly conspiring to cheat the Inland Revenue Authority of Singapore (IRAS) and Manpower Ministry (MOM), as well as possessing around S$3.8 million in criminal proceeds.
TIPS AND TRICKS
How Does Income Tax Return Affect Singaporeans?
TAX LIABILITY
GOVERNMENT SUPPORT
CPF CONTRIBUTIONS