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Social Security Premiums will be Collected by the Tax Bureau

Starting from 1st January 2019, the social security premiums, including pension insurance, medical insurance, unemployment insurance, employment injury insurance, maternity insurance etc. will be collected by the tax bureau, according to the newly published Reform Plan for National and Local Tax Collection and Management System (the “Reform Plan”).

The Reform Plan likely leads to the following effects and consequences: a. Clarification on the competent authority to collect social security premiums; b. Payment evasion will be better prevented; c. Problems to be considered after the reform.

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THE VARIABLE CAPITAL COMPANY (VCC) IN SINGAPORE

In further effort to augment the Fund Industry in Singapore, the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) launched the Variable Capital Compan