Resources

E-commerce is surging, and so is the requirement for accounting and taxation for such companies. Dealing with e-commerce accounting involves bookkeeping, invoice recording, and of course, taxes. The most challenging part of accounting is doing the taxes for your e-commerce business. Some of the transactions are multi-jurisdictional, so you must have an understanding of the…

Business is about earning profits but giving back to society can bring about social and environmental benefits. You may wonder if donations are important to the business and may even be surprised to know that they are! Donations from small businesses can actually have a big impact on the community. A donation in the form…

The Accounting and Corporate Regulatory Authority (ACRA) in Singapore has made it mandatory for certain types of companies to submit their financial statements in XBRL filing format. If your company falls under the categories specified by ACRA, you must follow the regulation and submit your financial statements in such a format. To help you comply…

Over the past few years, the business sector has taken a rather substantial knock, and all the uncertainty in these trying times has caused many businesses to suffer considerably. It is absolutely critical for businesses to have or be sourcing for funding so that they are able to invest in development strategies, build new capabilities…

As a business-friendly country, Singapore is known for its variety of schemes that are easily accessible to businesses, with each sector likely to have its own unique schemes. While money is often the lifeblood of any business, why exactly do businesses need funding and schemes such as the enterprise innovation scheme (EIS)? Apart from the…

Singapore has become an ideal business location due to its thriving economy and pleasant environment. In addition, many businesses have relocated to this Southeast Asian country as a result of the country’s environmental and aesthetic appeal. As a result, the country has become a hub for both domestic and international industrial enterprises. Although Singapore’s many…

Owning and operating a restaurant in Singapore is undoubtedly highly lucrative and advantageous. Moreover, restaurant ownership may lead to higher incomes than you can make by pursuing other business ventures. Being a restaurant owner, however, comes with a variety of responsibilities, including business administration, customer service, marketing, financial planning and management, and bookkeeping. Each position…

SINGAPORE: Chew Yen, Ian (“Chew”), a 52-year-old insurance introducer, has been sentenced by the Court to fines totalling $4,000 and $186,816 in penalties after being convicted of four charges of providing incorrect information in the Income Tax returns of three insurance agents. As an insurance introducer, Chew was responsible for introducing potential customers to insurance…

It can be very exciting to move to another country such as Singapore; however, that said, it certainly can also be extremely daunting, stressful and overwhelming. This is especially when you will have a multitude of things, such as income tax, to consider and gain knowledge of. During this life-changing and once-in-a-lifetime experience, there will…

Singapore has been a favoured country for business owners and entrepreneurs over the years. One reason for this is its simple tax policies and procedures. Several tax criteria must be fulfilled while registering a company in Singapore, as well as when closing down such a business. The requirements are straightforward in both circumstances. In Singapore,…