Tax Saving Tips for Small Businesses in Singapore As a small business owner in Singapore, it’s important to optimize your tax strategy to maximize savings and ensure compliance with regulations. Thus, here are some practical tax-saving tips tailored for small…
Simplified Guidelines for Annual General Meetings and Annual Returns 1. Annual General Meeting (AGM) An AGM serves as a platform for your company to present its financial statements to its shareholders. This allows shareholders to inquire about the company’s financial…
Labour Market Continues Expansion in First Quarter 2024, Despite Global Economic Risks The Labour Market Advance Release for the first quarter of 2024, released on April 30, 2024, paints a picture of continued expansion, albeit at a moderated pace, reflecting…
Tax Resident Vs Non-Resident of Singapore (Company) Tax residency is a crucial determinant for companies operating in Singapore, impacting their tax obligations and benefits. In Singapore, tax residency hinges on where the control and management of a company’s business are…
Auditor Rotation in Singapore: Enhancing Independence and Audit Quality Auditor rotation is a crucial practice in Singapore aimed at maintain audit independence and ensure high-quality financial reporting. However, this regulatory requirement applies primarily to Public Interest Entities (PIEs) and involves…
Tax Resident Vs Non-Resident of Singapore (Individual) Navigating the tax landscape in any country can be a complex affair, and Singapore is no exception. With its reputation as a global business hub and a vibrant expatriate community, understanding the nuances…
A Comprehensive Guide to Incorporating a Company in Singapore Incorporating a company in Singapore is a straightforward process that involves several key steps. Here’s what you need to do: Choose a Company Name First, select a unique and meaningful name…
Understanding Audit Exemption Criteria in Singapore Effective Date: The audit exemption applies to financial years starting from July 1, 2015, onwards. Qualification Criteria Previously, companies were exempted from audit if they were exempt private companies with annual revenue of $5…
Understanding Capital Allowances: What Qualifies and How to Calculate Businesses often invest in fixed assets crucial for their operations. However, as these assets undergo wear and tear over time, their value depreciates. While depreciation is recognized in financial statements, it’s…
Tax Obligation of Non-Resident Director in Singapore Board directors play a pivotal role in the governance and strategic direction of a company. Whether as a non-resident or executive director, their responsibilities extend beyond mere oversight to shaping the future trajectory…
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