The Singapore Accounting Standards Council (ASC) has issued a Statement of Intent on the likelihood of adopting a simplified version of accounting standards for SMEs in Singapore.
The government of Japan has pledged to lower its corporate income tax rate in order to attract more foreign investment to Japanese shores. However, it has a long way way to go before it can begin competing with tax friendly Singapore.
Robust growth of Singapore’s service sector during Q1 2010 and the business community’s upbeat sentiment for the remainder of 2010 is leading to higher number of new business startups.
The recent political instability in Thailand has sent the economy in a downward spiral while neighboring countries such as Singapore gain investor confidence.
The Global Enabling Trade Report 2010, released by the World Economic Forum on May 19, 2010 ranks Singapore as #1 in its Global Enabling Trade Index, signifying Singapore’s openness to trade.
Singapore’s high growth forecast for 2010 appears to have prompted a flurry of entrepreneurial activities as the number of new incorporations surged in the first quarter of the year.
Tourism accounts for one of Singapore’s largest service sectors and is fast emerging as a lucrative industry.