Cloud Accounting Gives You Real-time Data About Your Business As an entrepreneur, it is natural that you always want to reap success after success with your business. With that, you want to have access to the financials real-time to make better business decisions. And, you must read on to understand the Cloud Accounting Services for…
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A company secretary in Singapore has the following duties and responsibilities: 1. ACRA Compliance Alert and Reminders A company secretary informs you of the filing deadlines as well as ACRA’s annual compliance matters in a very timely fashion. 2. Company Seal A company secretary makes sure the safe custody and appropriate use of the company…
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Things You Should Know about Singapore Financial Reporting Standards (SFRS) As a business owner in Singapore, you know that accounting for your business transactions must be precise. However, you might not understand why accounting standards are such a huge deal. Only if you are the only individual seeing your business accounts, then they wouldn’t be.…
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Compulsory to file Registers Of Registrable Controllers information With effect from 30 July 2020, the Accounting and Corporate Regulatory Authority (ACRA) requires all companies, foreign companies and limited liability partnerships (LLPs) to lodge the Registers Of Registrable Controllers (RORC) information. This is part of ACRA’s ongoing efforts to uphold Singapore’s reputation as a trusted financial…
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Singapore Companies Must Report Business’ Ownership All Company secretaries must submit the Register for Registrable Controllers to the ACRA. For the past years, ACRA requires all companies operating in Singapore to maintain this register and update it on a regular basis. For those business owners who are not aware of the requisites of the Register…
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Guide to Singapore Corporate Tax Filing Procedures A Singapore corporate tax regime is attractive, with low, transparent tax rate and efficient reporting & filing system. Below is a short overview of Singapore Learn More and the process to pay the company’s taxes. Who Should Pay Singapore Corporate Taxes? All Singapore businesses must pay tax…
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Extension of Compliance Filing Deadline For Singapore Companies On 4 April 2020, local businesses and taxpayers feel relieved when Singapore regulatory bodies, IRAS and ACRA, announced the extension of deadlines for tax filing, Annual Returns (AR) filing and holding of Annual General Meetings (AGM) to support Singapore businesses during this COVID-19 pandemic. IRAS – Extension of Deadline…
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Solidarity Budget: Additional SGD 5.1 billion to support Singaporeans & Businesses On 6 April 2020, DPM Finance Minister Heng Swee Keat announced another support package, known as the Solidarity Budget. The Solidarity Budget enhances the support packages previously introduced under Budget 2020. The earlier supplementary, Resilience Budget, addresses the rapidly evolving pandemic and its impact on the economy…
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S$48 billion Resilience Budget to support Singaporeans & Businesses On 26 March 2020, three weeks after the Minister for Finance, Mr Heng Swee Keat has delivered his Budget 2020 speech, he announced the Resilience Budget. This supplementary budget outlines a robust financial plan to address the challenges presented by the COVID-19 downturn. Key points under…
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Investing in Cloud Accounting Software is Beneficial To Your Business To stay competitive in the digital era, businesses are searching for ways to ensure success in these aspects such as management, marketing, finances, and more. Investing in innovative and effective tools like cloud accounting software is a brilliant business move. Accounting software works by automating…
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Entrepreneur’s Guide to Mastering Small Business Finance Large companies are operating with huge capital. Small businesses in Singapore, yet, thrive with a limited amount of funds. Proper management of finances at times of economic downturn is vital to surviving. Business finance mastery allows small businesses in the allocation and use of funds. This also leads to…
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Singapore FY2020 Budget Statement Summary Did you know that Singapore focuses its FY2020 Budget to help families in the country? The Singapore Government plan to uplift the economy affected by the continuous COVID-19 outbreak. These are the summary and key highlights you should know and understand. 1. $800 Million to Support the Coronavirus Outbreak…
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Ultimate Guide to Registering Your Company in Singapore Singapore has a stable political and economic standing. These are the primary reasons why a considerable number of Singaporeans and foreigners prefer to set up their businesses in Singapore. These entrepreneurs benefit from the multi-pronged stability of Singapore to start a venture and enjoy its pro-business setting.…
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What taxes should an Australian entrepreneur consider when setting up a company in Singapore? Singapore transparent tax system is among the reasons why Australian entrepreneurs choose Singapore to grow their venture or start a business. Apart from easy access to capital, Singapore offers comprehensive trade agreements and incredible tax frameworks. So, if you are planning…
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Medical Practice’s Compliance Needs in Singapore Accounting plays a role in any company and organization, and form a vital part in a systematic as well as faultless operations. For hospitals, medical clinic, as well as healthcare organizations, financial accountants perform with the utmost care due to the many rules and regulations. The healthcare industry is…
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Owning and running your own restaurant business in Singapore is certainly a very profitable and beneficial pursuit. Restaurant ownership can pave the way for lucrative earnings, which is actually more than what you can earn if you pursue other types of business. However, as a restaurant owner, things can also become challenging since you have…
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