Whether you are operating locally or running a global business from Singapore, here are the key regulatory and business updates for founders, SMEs, and corporate advisors for July 2025.
This month’s updates center on responsible innovation, with new AI governance tools, deep tech funding initiatives, and increased flexibility in foreign workforce policies. Regulatory agencies also sharpened their focus on corporate transparency and tax enforcement, launching consultations and compliance actions that signal the direction of future frameworks.
Company Law
Public Consultation on Corporate & Accounting Law Reforms Launched
ACRA and the Ministry of Finance conducted a public consultation from 14 to 31 July 2025 on wide-ranging amendments to five key statutes, including the Companies Act. The proposals aim to prevent misuse of companies, reduce regulatory burden, and enhance shareholder protections including changes such as disqualifying directors for money laundering offences and allowing sole directors to serve as company secretaries. Feedback received will be taken into account in the final version of the Amendment Bill.
ACRA Webinar Supports Annual Return Filing and XBRL Compliance
In preparation for the Annual Return (AR) filing season, ACRA hosted a webinar on 9 July 2025, guiding company officers and CSPs through common BizFile filing issues, XBRL formatting obligations, and key compliance timelines. This support initiative is especially useful for SMEs navigating year-end compliance.
Tax & Accounting Law
Extended Grace Period for GST Registration Compliance
Starting 1 July 2025, IRAS allows businesses two months (up from one) to register for GST after they expect their taxable turnover to exceed S$1 million. This adjustment provides SMEs with more time to manage compliance obligations and avoid premature registration.
Revised GST Voucher Fund Disbursement Rules Finalised
Amendments to the GST Voucher Fund were gazetted between 4–7 July 2025. These changes streamline payout cycles and eligibility thresholds, affecting how financial support reaches low-income households and indirectly informing payroll and HR compliance for SME employers.
Source: https://sso.agc.gov.sg/SL-Supp/S483-2025/Published/20250707?DocDate=20250707
Director to Be Charged for S$1.4M in Fraudulent GST Claims
On 8 July 2025, IRAS and the Singapore Police announced that a Malaysian woman will be charged with 87 counts of filing false GST returns and money laundering offences tied to S$1.4 million in fraudulent input tax claims. The case underscores IRAS’ aggressive enforcement stance and serves as a compliance reminder for SMEs claiming GST refunds.
Licensing & Regulatory Compliance
MAS Issues Framework for Scams Prevention and Licensing Appeals
On 15 July 2025, the Monetary Authority of Singapore published its new regulatory framework under the Protection from Scams Act, empowering banks and payment institutions to enforce restriction orders on scam-related transactions. At the same time, MAS finalized procedural amendments governing licensing appeals across MAS-administered regimes, enhancing transparency and fairness in supervisory enforcement.
Source: https://www.allenandgledhill.com/practices/financial-regulatory-compliance
Government Grants, Incentives & Support Schemes
Business Adaptation Grant Announced for Tariff‑Affected Exporters
The Singapore Economic Resilience Taskforce unveiled the Business Adaptation Grant on 10 July 2025 to help businesses navigate disruptions from new trade tariffs. SMEs that export or operate overseas (or operate manufacturing locally or abroad) can receive co‑funding support up to S$100,000 for advisory services (e.g. FTA compliance, legal contracts, market diversification) and supply-chain reconfiguration costs.
Source: https://www.enterprisesg.gov.sg/financial-support/business-adaptation-grant
Funding & Startup Ecosystem
Record Deep Tech VC Programme Launched by NUS with S$150 Million Commitment
On 22 July 2025, NUS Enterprise launched Asia’s first university-led Venture Capital Programme, committing S$150 million to support early-stage deep tech ventures. The programme includes S$50 million invested in selected VC firms and S$100 million earmarked for co-investment alongside them into NUS-affiliated startups.
By the end of July 2025, Singapore-based startups had raised approximately US$4.35 billion in equity capital across 97 funding rounds. This represents a significant increase over the US$1.65 billion raised in the same period last year and reflects renewed investor confidence in the local innovation ecosystem.
Business Law
Draft Regulations Introduced to Support ECCTA Reforms on 1 July 2025
On 1 July 2025, Singapore laid before Parliament the draft Economic Crime and Corporate Transparency Act 2023 (Consequential, Incidental and Miscellaneous Provisions) Regulations 2025. These regulations propose consequential amendments to multiple statutes. They reflect the transfer of obligations related to director and PSC registers from companies to a central registry maintained by Companies House.
Singapore Courts Clarify Interface Between Arbitration and Insolvency
In July 2025, new guidance was issued by Singapore’s judiciary regarding how arbitration agreements should be treated in the context of insolvency proceedings. The courts affirmed that valid arbitration clauses must be respected, but also outlined scenarios where creditor protection and public interest considerations may override them. This has important implications for cross-border commercial disputes and restructuring efforts.
Tech & Digital Law
Singapore Launches Expanded Global AI Assurance Sandbox and New Trust Framework
On 7 July 2025, IMDA, PDPC, and AI Verify Foundation announced three new tools to foster safe and responsible AI deployment. These include:
- An expanded Global AI Assurance Sandbox for real‑world testing of AI systems;
- A PETs Adoption Guide (Privacy Enhancing Technologies) to help organisations implement privacy-first AI;
- Elevation of the Data Protection Trustmark to a new Singapore Standard (SS 714:2025), aligning it with global benchmarks and enabling certified organisations to demonstrate high data protection standards.
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