Penalties for Tax Evasion in Singapore

Governments enact tax regulations to make sure that people pay all the taxes they should be paying. However, some people try to avoid making such tax payments by engaging in either tax evasion or tax avoidance. These two actions are not equivalent, though. The main distinction is that tax avoidance is permissible while tax evasion…

5 Ways to Save On Your Corporate Tax in Singapore

Currently, at just 17 per cent, Singapore has one of the lowest corporate tax rates in the whole world. Because of this low rate, along with several other tax incentives, Singapore is a preferred place for many foreign investors. There are many organisations that are expanding their operations in Singapore, and any way to save…

Night Club Operator Sentenced to Jail and Penalties for GST Evasion and Money Laundering

SINGAPORE: Soon Kok Khoon (“Soon”), the operator of Club Posh Entertainment LLP (“CPE”) and West Palace Entertainment (“WPE”) (collectively, the “Clubs”), has been sentenced by the Court to six months and 34 weeks imprisonment and ordered to pay penalties totalling $630,861, after being convicted of offences involving Goods and Services Tax (GST) evasion and money-laundering.…

Benefits of Hiring an Outsourced CFO

Outsourcing is a common practice today for many multinational companies. Outsourced employees can be found in almost all functions, from IT to payroll, accounting, and marketing. Along with outsourcing accounting and bookkeeping functions, businesses are also outsourcing their financial officers and experts so they can work with the best in the field. Working with only…

What is Progressive Wage Credit Scheme (PWCS)?

As one of the fastest growing economies in South-East Asia, Singapore understands the importance and contributions of businesses and their respective employees to the nation’s economy. Therefore, one good way to improve its citizens’ well-being and purchasing power is to ensure progressive wage increases for employers and employees. In 2013, the Wage Credit Scheme was…

What are the Tax Incentives for Family Offices in Singapore?

It is no surprise that Singapore remains one of the best destinations in South-East Asia for those seeking business and investment opportunities. This is because the government of Singapore has, over the past decades, been proactive and intentional in incorporating solid and enticing corporate laws to build a better business environment. Singapore’s accessibility to local…

Can I Change My Company’s FYE After Incorporation in Singapore?

Every company in Singapore is responsible for determining its financial year end (FYE) at the time of incorporation. But, changing a company’s financial year end (FYE) after its incorporation in Singapore is common. The main reason for changing a company’s FYE is to align this with its operating cycles and business activities. This will ensure…

Tax Benefits for New Start-ups in Singapore

Have you considered establishing a company in Singapore? Is the thought of starting your own business and managing your operations, marketing, and sales appealing to you? If so, you ought to be aware that your start-up can qualify for tax benefits. These tax exemptions might provide a significant boost that could encourage you to launch…

Accounting & Taxation Services That SMEs Should Outsource

On the surface, many people believe owning and running a business is all about glamour and fanfare. However, as a business owner, you’re tasked with the day-to-day operations of the business, as well as its other chores like accounting obligations. In all honesty, all of these can prove overwhelming for a small business owner. There’s…

5 Tips To Help You Keep Your Cash Flow In Check

As a business owner, cash flow is the life of your business. Therefore, the cash flow statement is one of the most important financial statements to monitor in keeping the business running. The other essential statements are balance sheets and income statements. Losing track of a business’s cash flow is a major cause of business…

Accounting & Finance

Learn about the accounting and finance for Singapore business. Read more >>

Business Guide

Run a Singapore business? Learn about the business tips that can benefit your business. Read more >>

Corporate Compliance

Learn about the corporate regulations that all Singapore companies have to comply to. Read more >>

Grants for Businesses

Learn the latest grants that your business can apply for. Read more >>

Human Resources

Learn about hiring staff in Singapore, payroll management and other MOM regulations. Read more >>


Want to start a Singapore company? Read our comprehensive guides for foreign or local entrepreneurs. Read more >>

Industry Guide

Learn how to start a business in every industry. Read more >>


Guides on personal matters, including CPF and personal income tax. Read more >>

Software for Businesses

Learn about Xero and other software for small businesses. Read more >>


Learn about Singapore corporate tax.

Work Visa & Immigration

Want to relocate or work in Singapore? Learn about your work pass options and eligibility. Read more >>