Author: PLBIZ Page : 6 of 12

PL Biz Consulting Pte Ltd is a Singapore-incorporated professional services firm that provides Accounting, Corporate Secretarial Services, GST, Income Tax, and Payroll Services in Singapore. Our primary focus is on delivering the best possible services every time and building long-term relationships with our esteemed clients.     The firm was founded in 2007 and is… Continue reading Accounting, Corporate Secretarial & Tax Services in Singapore

All businesses are required by law to file a timely and accurate income tax return by the stipulated filing tax deadline every year. While most taxpayers do file their taxes on time, there are still some who fail to do so each year. As a result, the tax authorities can impose penalties and court summonses… Continue reading Income tax services and planning

Many small and medium size businesses stagnate or even fail because too often the owner loses a grip on the company’s financial position. In our course of work, we regularly meet entrepreneurs who were flying blind without even bothering to know how well or how bad is their business performing. They tend to become complacent,… Continue reading The Importance of Reliable Accounting Services

Employers are reminded to make the full CPF contributions for their employees by 14 January 2015, in order to receive the second tranche of Wage Credit Scheme (WCS) payouts in March 2015.   The Government introduced the WCS in 2013 as part of a 3-year Transition Support Package to help businesses cope with rising wage… Continue reading Second tranche of Wage Credit Scheme Payouts

We are pleased to announce that we had recently set up an office in Johor Bahru to assist our clients’ business venture into fast-booming Malaysia. This move reflects our commitment to becoming the Total Solutions Partner to our clients whenever they are. Our full suite of services offered in Malaysia is Accounting, Corporate Secretarial, Income… Continue reading Accounting & Tax Service in Malaysia

“Mr Phang Yu Hon, 47, is a tuition millionaire and shows his income tax records readily to prove how much he earns and what he pays in taxes each year. It took just two years for him to double his income from about half a million dollars in 2009 to $1 million in 2011. All… Continue reading Millionaire tutor paid taxes of $186,000

It was reported recently that Chong Wee Keng, a renovation contractor who owned a sole proprietorship, D’Esprit Design & Renovations, has to pay a total of $504,500.80 in back-dated taxes and penalty for failing to register for Goods and Services Tax (GST). In addition, he has to pay a fine of $4,500. IRAS runs regular… Continue reading Penalty for failing to register for GST

This clarification by IRAS was in response to the recent letter “Query on taxes on a discounted meal” (ST Forum, 14 Oct 2014) by Mr Chiok Beng Piow. “Mr. Chiok had purchased a Groupon deal for lunch at a restaurant. He asked if the Goods and Services Tax (GST) should be charged on the original… Continue reading IRAS clarifies on GST treatment on discount vouchers

A Singaporean sole proprietor was sentenced to jail and fined more than $500,000 recently after being convicted by the court for failing to declare his business income to IRAS. The amount of business income omitted was more than $1 million dollars over three years of assessments. Accordingly, this resulted in an undercharged income tax of… Continue reading Sole-proprietor jailed for omitting business income from his tax returns

The much-awaited outcome of an appeal by a Singapore subsidiary of a Malaysian listed company was finally decided in its favor against IRAS. This case was about IRAS determining the Financing Arrangement that the Singapore subsidiary entered into as falling under Income Tax Act’s section 33 General Anti Avoidance Rule. The High Court disagreed with… Continue reading Singapore Subsidiary Wins $13.6m Case Against Taxman