Jaylee Management Corporate Concierge
Jaylee Management Services Pte Ltd was founded in 1969 by our intrepid and late founder, Judy Lee. From a modest outfit in d’Almeida Street in old Raffles Place, when lift doors had to be pulled shut manually and the office hummed with the soothing clicks of the manual typewriter, this awesome firm has just gone from strength to strength. Now we are a modest outfit (we don’t inflate your fees to pay for plush offices) in Cecil Street in the heart of modern Singapore.
For over 40 years, through every economic boom and austerity since Singapore’s independence, we have helped our clients to set up their companies in Singapore and supported their enterprises with a range of corporate secretarial, consultancy, accounting and administrative services.
We aim to understand our clients’ needs and provide them with the practical solutions that will ensure their seamless compliance with all the regulatory requirements of doing business in Singapore. Basically, we take care of the really boring stuff, saving our clients time and money and leaving them free to do the exciting things like pursuing their passion and growing their businesses.
They may be small in size, but they can soon punch above their weight. Small and medium enterprises SMEs got a shot-in-the-arm on Tuesday when the Infocomm Development Authority IDA announced that adoption of cloud computing technologies will now qualify for a 400 per cent tax deduction under the Productivity and Innovation Credit PIC scheme. via Straits Times.
Singapore is well-known as a clean and green city with the government striving for environmental sustainability while growing the economy. The government has also identified Environmental and Water Technologies EWT including Clean Energy as strategic areas where Singapore has a competitive edge and which could generate future economic growth.To accelerate the growth of the environmental industry and to maintain Singapore’s image as a clean and green city, the government has initiated several funding and incentive schemes related to energy efficiency, clean energy, green buildings, water and environmental technologies, green transport, waste minimisation, environmental management system, environmental initiatives, clean development mechanism, and green IT. via Green Business Times.
SINGAPORE : The Workforce Development Authority WDA and SPRING Singapore have started a pilot programme called Customer Centric Initiative CCI Plus targeted at small and medium-sized enterprises SMEs. via Channel NewsAsia.
To help companies cope with the rising costs of doing business, the Minister for Finance has announced in Budget 2011 that for Year of Assessment (YA) 2011, companies will receive: 1) A Corporate Income Tax (CIT) Rebate; or 2) A SME Cash Grant, whichever is the higher amount. Corporate Income Tax (CIT) Rebate A 20% CIT rebate, subject to a cap of $10,000, will be allowed to each company for YA 2011. The rebate will be computed on the tax payable amount after deducting tax set-offs (e.g. double tax relief and unilateral tax credit). One-Off SME Cash Grant In recognition that many small companies are not taxable and would not be able to benefit from the CIT rebate, a one-off SME cash grant of 5% on total revenue, subject to a cap of $5,000 will separately be given to them. Like the CIT rebate, this SME cash grant initiative is aim at providing one-off support for companies’ increased business costs. Scope & Conditions of CIT Rebate & SME Cash Grant CIT Rebate CIT rebate will be given to all companies (including Registered Business Trusts) regardless of tax residency status and eligibility for concessionary corporate tax rate, except income of non-resident company that is subject to final withholding tax. SME Cash Grant To be eligible for the SME cash grant, the company or registered business trusts must have made CPF contribution for at least one employee during the basis period of YA 2011. If no CPF contribution is made, the company or registered business trust will only be eligible for the CIT rebate; Companies and registered business trusts will receive automatically the higher of CIT rebate amount or the SME cash grant amount. CIT rebate will be given if both amounts are the same. Download FAQ here.
As part of the 2011 Budget Initiatives to support employers, the Government has introduced a one-off Special Employment Credit (SEC). The SEC aims to raise the employability of older low-wage Singaporeans. It complements other measures to boost the employment rate of older workers, such as the Workfare Income Supplement (WIS) scheme, lower CPF rates for older workers, the ADVANTAGE! Fund to promote job re-design, and the re-employment legislation that will come into force on 1 Jan 2012. The SEC will help employers to adjust to the re-employment legislation. Employers can also tap on this group of older workers for their skills and experiences to augment their manpower needs. via Special Employment Credit.
The government will launch a S$40 million fund to encourage more medical technology (med-tech) start-ups as part of the Research, Innovation and Enterprise 2015 plan. SPRING Singapore said the fund will be managed by its unit, SPRING SEEDS Capital, under a new Biomedical Sciences Accelerator (BSA) programme. via Channel NewsAsia.
The Productivity and Innovation Credit (“PIC”) Scheme was introduced in Singapore Budget 2010 and has been enhanced in Budget 2011 to provide significant tax benefits for investments by businesses in a broad range of activities along the innovation value chain. These benefits will be effective from Year of Assessment (YA) 2011 to YA 2015. The six activities along the innovation value chain that will qualify for PIC are: Acquisition or leasing of prescribed automation equipment; Training of employees; Acquisition of Intellectual Property Rights; Registration of patents, trademarks, designs and plant varieties; Research and development activities; and Investment in approved design projects. The tax benefits come in the form of tax deduction/allowances at the rate of 400% or a cash payout of $30,000 starting from YA 2011. So what is deductible under the PIC? Look here.
