Singapore GST Hike 2024: Preparing Your Business Through Proactive Financial Planning
The new 9% goods and services tax (GST) rate is expected to go into effect on January 1, 2024. According to an article released by the Inland Money Authority of Singapore (IRAS), the Singapore government intends to cover greater healthcare expenditure and provide...
Singapore Withholding Tax: A Comprehensive Guide for Employers
Singapore is an island country and city-state in Southeast Asia's maritime region. The country has emerged as a top choice for global entrepreneurs due to its powerful economy, strategic location, and business-friendly climate. Hence, Singapore has drawn many...
Singapore Tax 2024: What to Expect for GST Increase
The Minister of Finance declared in the 2022 Budget that the GST rate will undergo a two-stage increase, moving from 7% to 8% on January 1, 2023, and further to 9% on January 1, 2024. He stated the cash generated from the GST increase will fulfill our medium-term...
Calculating Success: The Function of KPIs in Strategic Financial Planning
Key Performance Indicators (KPIs) are quantitative measurements used to assess an organization's, department's, project's, or individual's success or performance in accomplishing defined goals and objectives. KPIs are significant in financial planning for a...
Integrating ESG into Financial Reporting: Sustainable Accounting Practices for 2024
Businesses' social and environmental implications are becoming more widely recognized. Investors are looking for companies that can demonstrate corporate sustainability. Consumer behavior is influenced by social awareness and justice. All of these issues have prompted...
Finance Future Ready: Accounting Best Budget Practices in 2024 for Financial Stability
The business budgeting season is nearing its end. Will your budget for the coming year be a strong financial blueprint that will assist your firm in properly allocating resources and prioritizing objectives? With the business landscape likely to be impacted by...
A Quick Guide in Building Business Relationships in Singapore
Singapore is a city-state on the southern point of the Malay Peninsula and a tropical Southeast Asian Island that is known as a business district, attracting the world's largest corporations, like Facebook and Google, to build their Asia-Pacific headquarters....
Balancing the Books: A Guide to Accounting Fraud Prevention
Accounting fraud has never been more prevalent in the complex environment of modern commerce, where the exchange of value is digital and financial transactions traverse global networks. Businesses and individuals must build protection against the harmful threat of...
Online Security in a Cashless Community: Protecting Financial Transactions in Singapore
Southeast Asia, with its active economy, diverse cultures, and thriving financial sectors, has emerged as a hub for global financial activities and innovations. Singapore, a small city-state in the center of this region, has quickly transformed into a major financial...
Year-End Harmony: Aligning Your Accounting with Regulatory Standards
Businesses would be on their own without a common set of accounting standards to demonstrate to investors or shareholders that they are appropriately reporting costs, revenue or losses. These standards, known as generally accepted accounting principles (GAAP), outline...