Corpass is all under one roof authentication and service authorization, acclaimed as the dedicated method for login which the corporate giants make use when in mid of transactions based on internet with numerous government agencies at the present moment.
As declared by the Government of Singapore in 2018, CorpPass already has switched to alternative methods such as Easy stands for (E-Services Authorization System) and SignPass from the date 1 September 18.
Understanding the Concept of CorpPass
CorpPass, abbreviation for the Singapore Corporate Access (authorization), it is the most recent identity in the digital dominion for the businesses which is based on a local scale in order to grab accredited authorization to nearly over 148 digital services affiliated with the government and the (IRAS) which stands for Inland Revenue Authority of Singapore. And also includes the clearance for (CPF) Central Provident Fund etc.
By bringing in a massive switch in for all the past login techniques, CorpPass makes sure that the businesses will have a higher fortification of the data which is highly confidential as we all know corporate data is sensitive. Hereby meaning that the corporate data will be enhanced and improved in a stand against the phishing and online scamming endeavors injected by the hackers.
From the year 2016 September, there has been numerous government authorizes which have initiated the CorpPass use including the necessary method required for a safe login for the businesses of any respective scale. This is to indicate that the commitment of Singapore in upholding the Smart nation directive of developing a more efficient, secure and dependable digital framework for all sort of associations, NPOs (non-profit organizations) and companies.
And after the August 2018, nearly above 90% of the MNCs and giants have been implementing the CorpPass for all transactions entitled or seen as G2B (Government to Business).
Eligibility of CorpPass
The eligibility of CorpPass is applicable to the following:-
- Regional corporates and SMEs with a designated UEN (Unique Entity Number) from ACRA (Accounting & Corporate Regulatory)
- International companies who are indulged into transactions concerned with the G2B.
Note: Regional bodies without the UEN are not intended to make use of the CorpPass. Just in case the nature of the business needs to get the G2B transactions done, here they can acquire the UEN from an agency that issues UEN.
The Government to Business Services that need the CorpPass
CorpPass is the needed login technique comes into action when registering the work permits, filing corporate taxes, applying for trade licenses and business grants. To enlist a few. Standard government concerned transactions that need CorpPass are mentioned below
1. Corporate Tax (Filing, Applications, and Payments)
2. Partnership (Form P Filing) PIC Cash
3. Property Tax (Filing, Applications, Payments, and Update Property Ownership)
4. Tax Clearance (Form IR21)
6. GST (Filing, Applications, and Payments)
7. Automatic Exchange of Information (CRS and FATCA)
8. Submission of Commission Records, Donation Records, and Employment Income Records
9. S45 Withholding Tax (Filing and GIRO Deduction Details)
The Roles for Different CorpPass
1. Registered Officer (RO)
This is actually for the individual who is in the company being registered officially with the ACRA. It can be the owner of the business, corporate secretary, and company director. They will only be the authorized person to designate CorpPass Amin for the organization.
2. CorpPass Administrators
This majorly is concerned within the organization designated by the Registered Officer to create the accounts for CorpPass, administer the G2B (Government to Business) transactions, and overlooking the concerned matters of the CorpPass. Every organization are entitled to have just 2 Administrators for CorpPass. This can also be the director of the corporate services (Admin, Human Resources/HR or the Finance Department) of the organization. When it comes to smaller companies, the R.O which is the Registered Officers can take the duty of being the Admin of CorpPass.
3. CorpPass Users
These are the ones who are in the company designated by the Admin of the CorpPass to cater to the need of holding and transporting all the G2B (Government to Business) transactions and all the matters directly relate to the CorpPass. Any such entity can have any number of the CorpPass users and user accounts they wish to make use of.
What impact does the CorpPass make on business?
CorpPass was managed and developed by the Government of Technology Agency (GovTech). The amendment of a special virtual identification of corporate advertises ‘cyber hygiene’ which is digital security and gives a much better explanation below
1. Better security and privacy fortification
With the medium of CorpPass, the employees and business owners have no longer make use of their individual or in simple words personal SignPass account when indulged in the transactions of Government to Business on behalf of the company. This averts clash and security threat to the highly confidential data which is sensitive to all the masses in other corporates in the presence of shared computers or just in case where co-workers or colleagues are on a leave or on a vacation.
2. Improved Security for sensitive Data
The prime objective of the CorpPass is to authorize the companies and citizens to make use of a unified platform to manage the government transaction online. This allows the companies associates to achieve and administer with a massive control and enhanced internal insight of the various complicated business operations. They can however designate and maintain a record of the chosen executive who only will have an access that is authorized from the management to view and edit the corporate data.
3. Greater degree of efficiency and convenience
By making use of a unified platform, the organizations can now administer more precisely and experience an enhanced convenience in administering the associate’s access to digital services directed from the government.
Steps for Registration of CorpPass in Singapore
Below mentioned is step by step guide for help in registering for the CorpPass
Step No 1. First thing is that the Register Officer i.e. (RO) along the SignPass or EUN will be redirected to the website of the CorpPass.
Step No 2. Then after logging in, the Register Officer should acknowledge the role of his/her CorpPass role which may be CorpPass Admin, CorpPass user or CorpPass Admin. Also the Register Officer (RO) should make efforts to get the maximum number of CorpPass Administrators that’s just 2 admins.
Step No 3. The Register Officer (RO) then should be creating the accounts for the entity’s CorpPass which later will be accessed by the CorpPass users or the CorpPass Admins.
Step No 4. The Register Officer (RO) then personalizes the account configurations in order to allow or to put a capping on the limit access to particular digital services of IRAS.
Step No 5. The administrator of the CorpPass is directly liable or one can say answerable for the maintenance and management of the entities account of the CorpPass. This will help in successful CorpPass registration.
The Business Solutions now made more easy
Let the Singapore Corporate services take over by being your first and preferred partner in helping to run the company right from the advisory services to the statutory compliances, corporate secretarial, taxation and all the outsourced services used for accounting. With the help of the unparalleled experience and expertise in an exhaustive range of executive solutions for business. This will herby help you to get yourself the best and preferred base for the navigation towards success and stability. For more details one can log on to http://www.corpass.gov.sg/