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Nexia Pulse

Every quarter, Nexia TS publishes a quarterly newsletter featuring a selection of tax and related accounting technical articles, business updates in Asia and more. Click on the boxes on the left to access the rest of the publications by quarter.

Tax-Free Fringe Benefits for Expats in China

Since 1994, China has allowed expatriate employees in the country to receive certain fringe benefits on a tax-free basis. The use of fringe benefits to lower an expatriate’s income tax benefit is worthwhile, although there have been some changes to the regulations over the years. While it is important to keep accurate records, as the tax office may request these at any time, the pre-approval of fringe benefit tax exemptions is no longer required.

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Cybersecurity - No Longer An Afterthought for Businesses

The threat of cyber-attacks continues to grow and evolve for both businesses and people alike due to the ever-changing landscape of the digital world. Cybersecurity is no longer an afterthought for most businesses nowadays as it is only a matter of ‘when’ they will come under a cyber-attack. It is necessary for businesses to protect themselves from increasingly sophisticated cyber-attacks and identify the vulnerabilities arising from the adoption of new technology such as cloud computing and the Internet of Things (IoT).

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M&A Asia Outlook

In 2016, dealmakers were presented with a range of challenges including low commodity prices, volatile capital markets in some parts of Asia, a new US administration, and the unexpected, by some, shock of Brexit. The market finished off 2016 with resilience despite the challenges, 2017 might not seem like the year many were expecting but as we move towards the end of the year, it looks like the M&A markets still managed to hold up well.

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SG-IFRS: Much Ado About Convergence, or Convergence is Nothing?

The world is always divided into two parts. Be it in investment (Bitcoin or a new IPO), a movie (Blade Runner 2049) or a car (the i8), there will always be people who will wax lyrical about the stratospheric heights of these and at the same time, people who express a healthy distaste or mild aversion towards them. In the more mundane sphere of accounting, International Financial Reporting Standards (IFRS) convergence in Singapore is no less such an animal leaving some interests piqued, others nonplussed, and yes, yet others disinterested. But the world is never interested in disinterested people.

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Succession & Legacy Planning with the Use of Singapore Foreign Trusts

Singapore’s foreign trust scheme is set to close to new entrants from 30 March 2019, so it may be worth considering how it could fit into a family’s wealth planning arrangements. Singapore is considered one of the most economically and politically stable countries in Asia. One of the world’s largest financial centres, it is supported by well-developed laws and regulations, technology infrastructure and fuelled by a fluid and educated workforce.

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