Outsourced Accounting Services in Singapore
5 minutesIn the corporate world, the term “Outsourced Accounting” is frequently used; however, some might be confused about what it means and why it is so important.
First, we will take a look at what outsourcing is, then look at outsourced accounting services in Singapore, and how it can help a business organization.
What are the Statutory Audit Requirements in Singapore?
3 minutesIf you are thinking of starting a business or incorporating a company in Singapore, you will need to be familiar with the legal requirements. One of them is the Singapore statutory audit requirements.
The Singapore statutory audit applies to almost all companies incorporated in Singapore and yours will likely fall within that bracket.
7 Ways How to Save on Income Tax in Singapore
4 minutesUndoubtedly, everyone wishes to know how to save tax in Singapore. Whether personal or corporate tax, any reduction will surely be appreciated by an individual or a company. Therefore, it’s helpful to know that Singapore has various tax relief schemes that individuals and businesses can leverage to save money.
Singapore Audit Exemption Criteria
4 minutesSingapore’s initiative to sustain its vibrant commercial landscape and foster the development of more SMEs or Small and Medium Enterprises altered the Companies Act in 2015. The change now allows exemption from audit of small firms upon meeting the Singapore audit exemption criteria.
Singapore Tax Exemption For Individuals
5 minutesTax exemptions can be referred to as the right to exclude some or all of the income earned from taxation. Singapore tax exemption for individuals refers to the entitlements of taxpayers in Singapore to various exemptions which would reduce their taxable income. The Singapore government sets the structure of Singapore’s personal income tax system through the Inland Revenue Authority of Singapore (IRAS).
How To Complete Income Tax Clearance In Singapore
5 minutesEmployers in Singapore enjoy certain perks while bearing a fair number of duties regarding taxation matters. For instance, among the many tax forms, companies need to complete form IR21, representing income tax clearance in Singapore. Just like many other tax obligations, failure to comply as stipulated can mean paying a hefty price.
Payroll Management in Singapore
4 minutesIt is common knowledge that the labour force of a company is the central part of any business. This is why it is important to implement a good payroll management Singapore to encourage and keep your workers motivated. Payroll management is an important aspect of business administration. It plays a crucial role in workers’ output and helps to retain the best staff.
General Introduction to the Goods and Services Tax Act of Singapore
4 minutesBusinesses looking for ways to lower their corporate and even personal income tax percentages while keeping a steady income base in support of the government can check out the Goods and Services Tax Act Singapore! The GST exists as an implicit tax because it taxes expenses by eight percent.
How do Taxes Affect Business Decisions in Singapore
5 minutesSince taxes are deducted from operating expenses, businesses would want to know how do taxes affect business decisions Singapore. Other than purchasing during the year to obtain a tax benefit on the said taxable year, there are different ways businesses can consider bringing down their taxable income.
Keeping Accounting Records in Singapore: What You Need to Know
4 minutesIs the company having doubts about how long to keep accounting records in Singapore? Then, this article will clarify particular qualms of Singapore firms. We all know that, anywhere in the world, accounting records exist as primary sources of data and proof used in preparing, verifying, and auditing financial statements.