Update on regulatory framework and GST InvoiceNow Requirement

Stay ahead of the curve with Singapore’s latest legislative update and the GST InvoiceNow Requirement.

On 2 July 2024, the Singapore Parliament passed three critical bills: the Accounting and Corporate Regulatory Authority (Registry and Regulatory Enhancements) Bill, the Corporate Service Providers (CSP) Bill, and the Companies and Limited Liability Partnerships (Miscellaneous Amendments) (CLLPMA) Bill.

This legislative reform aims to bolster the regulatory framework for corporate service providers, companies and limited liability partnerships in Singapore, and result in increased compliance and transparency requirements.

Key legislative changes include the introduction of contact address for individuals to protect privacy of individual shareholders and individuals who are position holders, endorsed nominee directorship to ensure legitimacy and deter misuse, disclosure of nominee information by companies and increased penalties for register-related offences to reinforce the importance of accurate and compliant records.

GST InvoiceNow Requirement

We will also discuss the GST InvoiceNow Requirement, rolled out by the Inland Revenue Authority of Singapore in a phased approach, which will necessitate GST-registered businesses to implement InvoiceNow for seamless invoice data submission. We will guide you through the adoption stages and address your queries to ensure your business is well-prepared for this significant change.

Join our event to gain insights into these new changes and understand the practical steps you need to take to stay compliant. Register now to equip yourself with the essential knowledge to smoothly transition to the new regulatory requirements. Seats are limited.

Speakers

• Sharon Koh, Associate Director, Entity Compliance & Governance, EY Corporate Services Pte. Ltd.
• Nicholas Beh, Technology Associate Director, EY Corporate Advisors Pte. Ltd. 

Important note:

Seats are limited. Registration closes on 20 November 2024 or when seats are filled. A confirmation email will be sent to you if your registration is successful. EY Corporate Advisors Pte. Ltd. reserves the right to accept registration, cancel the event or amend the schedule and speakers due to circumstances beyond our control.

Please note that photographs, video and/or audio recordings (Materials) may be taken during the event. The EY member firms in Singapore may collect, use, reproduce, edit and/or share the Materials for its internal and external publications (which include magazines, newsletters and website), for publicity and marketing purposes, and/or for post-event communications with event attendees. All rights, title and interests in the Materials shall belong to EY.

This event is now over. For enquiries, please contact the organizer.

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