What are company secretarial services? Company secretarial services are the professional services provided by a company secretary. Company secretarial services are responsible for maintaining company records and ensuring compliance with legal and regulatory requirements. They can also provide advice on corporate governance matters, such as the composition of the board of directors and the development… Continue reading 8 Reasons to outsource company secretarial services in Singapore
Importance of an accounting firm for your small business There are many reasons why an accounting firm is so important for your business in Singpaore. For one, they can help you keep track of your finances and budget accordingly. They can also help you with financial planning and forecasting, as well as tax preparation… Continue reading 7 Signs when you need to switch to a new accounting firm
While using tools seems to be an easy task, it comes with several drawbacks too. The same is the case with accounting tools. While it may seem like an easy way to keep track of your finances, there are several downfalls to using these types of tools. In this blog post, we have shared a… Continue reading Accountant vs Accounting Tool: Which is better?
Why Singapore is a great option for business setup? There are many reasons why Singapore is a great place to set up a business. For one, the city-state has a very stable and pro-business government. Additionally, Singapore’s legal system is based on English common law, making it easier for businesses to operate here. The country… Continue reading All that you need to know about setting up a company in Singapore
Is GST applicable in Singapore? Yes, the Goods and Services Tax (GST) is applicable in Singapore. GST is a tax on the supply of goods and services in Singapore. It is also charged on the import of goods into Singapore. GST is levied at every point in the supply chain. The final consumer pays the… Continue reading Most frequently asked questions (FAQs) related to GST in Singapore
Who is a company secretary? A company secretary is a professional who provides administrative and secretarial support to an organization. Their duties may include maintaining corporate records, preparing minutes of meetings, and ensuring compliance with laws and regulations. In larger organizations, they may also manage human resources or provide financial advice. Company secretaries play an… Continue reading All that you need to know about a company secretary in Singapore
Do you run a business in Singapore? If yes, you need accounting services for several reasons such as organizing your financial information, filing the necessary taxes, budgeting, managing cash flow, and more… It is therefore required for your business to hire a certified public accountant to manage your accounting & bookkeeping. You can definitely find… Continue reading 8 Things to consider while choosing an accounting firm in Singapore
What is small business accounting? Small business accounting is the process of tracking, recording, and analyzing a company’s financial transactions. This information is used to make decisions about how to manage the company’s finances and grow the business. Small business accounting is essential for keeping track of revenue and expenses, identifying trends, and making… Continue reading Why do small businesses in Singapore need accounting services?
Starting from Year of Assessment 2017, Singapore’s personal income tax rates for resident taxpayers starts from lowest rate of 2% (for chargeable income $20,001 – $30,000, first $20,000 at 0%) to the highest personal income tax rate at 22% (for chargeable income $320,001 onward). The changes also means that the tax rate for non-resident directors will also increase from… Continue reading Increase in tax rates for individuals
Contrary to popular belief, not all GST input tax incurred can be claim. The following are the expenses that are specifically disallowed to be claimed as input tax: Benefits provided to the family members or relatives of your staff; Costs and running expenses incurred on private motor cars Club subscription fees (including transfer fees) charged by sports… Continue reading Blocked GST input tax claims