by Willie Tan | Apr 8, 2024 | Glossary
“Know Your Customer” (KYC) refers to the process that businesses and financial institutions undertake to verify the identity of their customers or clients. It is a regulatory requirement in many jurisdictions and is particularly prevalent in the financial...
by Willie Tan | Apr 8, 2024 | Glossary
The Job Support Scheme (JSS) is a program implemented by the Singapore government to provide financial support to employers and help protect local jobs during economic downturns, such as the COVID-19 pandemic. The scheme aims to help businesses retain their employees...
by Willie Tan | Apr 8, 2024 | Glossary
the Job Growth Incentive (JGI) was a program introduced by the Singapore government in response to the economic challenges posed by the COVID-19 pandemic. The JGI encourages employers to expand their local workforce by providing wage subsidies for hiring new local...
by Willie Tan | Apr 8, 2024 | Glossary
The IR8A form is a document used in Singapore for reporting an employee’s income to the Inland Revenue Authority of Singapore (IRAS). Employers in Singapore are to issue the IR8A form to their employees by March 1st of each year, detailing their income earned...
by Willie Tan | Apr 8, 2024 | Glossary
The IR21 form, also known as the “Tax Clearance for Foreign Employees Leaving Singapore” form, is issued by the Inland Revenue Authority of Singapore (IRAS). It is used to notify IRAS when a foreign employee leaves Singapore permanently or for an extended...
by Willie Tan | Apr 8, 2024 | Glossary
The International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB), an independent, private-sector body based in London, United Kingdom. IFRS is designed to provide a common global...
