ASH NEWS BITES
JULY 2024 EDITION
IN THE SPOTLIGHT
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BLOG OF THE MONTH
ECI: The Essential Guide to Tax Compliance in Singapore
Struggling to manage your company's Estimated Chargeable Income (ECI) and meet tax deadlines? You are not alone, but with proper guidance, you can navigate these challenges effectively. Think of it as your mission impossible—you can succeed with the right strategy and tools!
NEWS AND INFO
1.5 million Singaporeans to Receive Up to S$850 in GST Vouchers in August
About 1.5 million Singaporeans will receive S$850 (US$628) or S$450 in cash in August from the enhanced GST Voucher (GSTV) cash payout scheme.
This is part of an increased payout announced during Budget 2023 by then-Deputy Prime Minister and Finance Minister Lawrence Wong.Banks in Singapore to Phase Out Login OTPs for Digital Token Users
Major banks in Singapore will phase out one-time passwords (OTPs) for digital token users over the next three months to better protect against phishing scams, announced the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) on July 9.
CPF Pays Out Record Interest of Over S$20 billion for 2023
In 2023, Central Provident Fund (CPF) members earned a record S$20 billion in interest, while retirement payouts exceeded S$3 billion, reaching a new high with 513,000 members receiving monthly income.
The CPF Board's annual report noted a 4.8% increase in members' balances, totaling S$571 billion.TIPS AND TRICKS
MASTER BANK RECONCILIATION EFFORTLESSLY WITH XERO (PART 1)
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