Commentary

Exploring the CRS challenges and future outlook in Singapore

Tax authorities and legislators all over the globe have been actively working to prevent tax evasion and promote global tax transparency for almost a decade now. As core components of the global financial ecosystem, FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) legislation aim to prevent tax evasion by compelling financial institutions to transmit certain information about certain account holders to their country(s) of tax domicile. Ultimately, their objective is to identify and discourage tax evasion by tax residents of countries using offshore banks and other Financial Accounts.

Commentary

Exploring the CRS challenges and future outlook in Singapore

Commentary

Adapt to survive in 2023: A step change for business models in FinTech

By Pat Patel, Executive Director, Elevandi

Commentary

Why CFOs need to drive the next wave of transformation to supercharge organisations

Many businesses in Singapore have been forced to rethink their customer engagement and business strategy. In short, the pandemic provided an on-ramp for brands to transform their business models to address shifting consumer habits to set them up for success for the next couple of years.

Commentary

Asia's sustainability traction has been sluggish but Singapore companies can usher in a new era

Worldwide, one-third of all food produced is wasted every year. That 1.3 billion tonnes of food is enough to feed 2 billion people – enough to feed the world’s hungry twice, with plenty of leftovers. This wasted food is worth US$1 trillion annually, and with each kilogram of food creating carbon dioxide emissions equivalent to the production of 25,000 plastic bottles, this waste is greatly costing the environment too.

Commentary

Legacy system to competitive advantage: How incumbents can win it all in the digitalisation race

The banking and capital markets industry has seen a monumental shift in how money is created, transferred, stored and owned. With the phenomenal growth of digitalisation - from the rise of cryptocurrency and blockchain, to new developments in open banking, businesses have what seems like endless opportunities at their feet. Despite this, Baker McKenzie’s digital transformation report revealed that 79% of executives in APAC still identify as digital laggards rather than digital leaders within their industry.

Commentary

How can real-time personalisation drive your CX strategy?

Digitalisation shouldn’t just be limited to processing automation – it can significantly improve customer experience.

Commentary

A Pink Pandemic Recovery Plan

The Pink Pandemic has taken an incredible toll around the world. According to the World Economic Forum’s Global Gender Gap Report, at our current trajectory, East Asia and the Pacific (including A/NZ) will take another 168 years to close the gender gap — which means we will not see gender parity in our lifetimes.

Commentary

Fit For the Post-Pandemic Future: Driving Employee Engagement Through an Intergenerational Lens

Thanks to the COVID-19 pandemic, hybrid work arrangements have become the norm globally for organizations across industries. Locally, a strong majority of Singapore companies (78%) are leaning towards maintaining a hybrid schedule, according to recent data from Milieu Insight. At the same time, employees are far less enthusiastic about going all-in on one work environment, with only 12% prefer working from the office all the time and only 10% wanting to work remotely full-time.

Commentary

Will your next wealth relationship manager be a machine?

Technology-based investment solutions can crunch numbers faster than any human, are less prone to emotion-driven decisions and they never sleep. And in many cases, they don’t charge as much as their human competition.

Commentary

Greening Asia’s supply chains

Commentary

A new realm of possibilities with AI in healthcare

Singapore's healthcare system, like those of all developed countries, is swamped with data. The challenge - and the opportunity - is to use that data to become a more effective premium healthcare provider. This can be achieved through the use of Artificial Intelligence (AI). AI lets medical professionals analyse and derive insights from the huge datasets created by healthcare organisations, a feat that is just not possible for humans.

Commentary

The arm’s length standard must continue to underpin commodity transfer pricing

Recent tax case judgments in commodity-producing countries shine a spotlight on the important commodity transfer pricing challenges that have potential knock-on effects on the trading industry in Singapore.

Commentary

Singapore’s manufacturing industry sets sights on digital transformation

The manufacturing industry has been the engine of Singapore’s economic growth since its inception. In 2018, the city-state was singled out as one of the best positioned countries for Industry 4.0 by the World Economic Forum with manufacturing contributing to 21.9% of Singapore's nominal gross domestic product (GDP).

Commentary