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Articles

Foreign Sourced Income

What Foreign-Sourced Income is considered taxable? What Foreign-Sourced Income is considered taxable? The Inland Revenue Authority of Singapore (IRAS) generally defines foreign-source income as profits that arise from a trade or business carried on outside of...

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SSIC CODE – Principal Activities

A company is permitted to have two principal activities which are based on the Singapore Standard Industrial Classification (SSIC) 2015 report. Use our free SSIC Search to find the Singapore Standard Industrial Classification (SSIC) 2015 code corresponding to your...

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Share Capital For Pte. Ltd.

What Is Authorised Share Capital? Authorised share capital can be defined as the largest amount of share capital that a company can issue. This amount will be agreed on when the company is being incorporated. This amount can be increased at a later date if the...

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Do you need an Audit?

Q1: When will the small company audit exemption take effect? The audit exemption will be applicable for financial years beginning on or after the change in the law (1 Jul 2015). Transitional provisions have been provided for the first two years after the change in...

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Stringent rules on employment passes since 2016

The Manpower Ministry is adopting a stick-and-carrot approach in dealing with the issue of hiring foreign professionals. Employers who persist in hiring them for no good reason and fail to have concrete plans to nurture their Singaporean staff will find it harder to...

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What kind of documents to prepare for accounting?

Here is a checklist to save you from headache. Please save it or share it to avoid losing any documents. 1. Purchase Invoices Please keep all business related receipts because you can only claim it as expenses. 2. Payment Voucher  Payment voucher showing if purchase...

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Why Cloud Accounting is Good for Business Owner?

THE PROBLEMS WITH TRADITIONAL ACCOUNTING SOFTWARE Only one person can access the software at a time. Simple Accounting software can be cheap but it is not expendable. You need to manage backups yourself. It’s a pain and time consuming and you may forget to do it. Lots...

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Limited Partnership

Limited Partnership (LP) Registration Requirements All Singapore citizens Permanent Residents Employment Pass EntrePass Dependent pass holders Foreign individuals and companies can register as long as a local resident manager is appointed Requirements for Registration...

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Sole Proprietorship

Sole Proprietorship Registration Requirements All Singapore citizens, Permanent Residents, Employment Pass EntrePass holders Foreign individuals and companies can register as long as a local authorised representative is appointed....

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The Worst Boss in My Life

When I knew I was pregnant in 2011, the thought of being able to work full time or care for my baby as a SAHM has crossed my mind for hundred times. In my dream, I want to be SAHTT and have high tea with ladies while my baby is comfortably taken care by the helper....

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Are you SMART enough?

In last week Sunday Times, the reporter spoke to Dr Vivian Balakrishnan about Smart Nation which was initiated by Prime Minister Lee Hsien Leong to improve lives, create opportunities for the future and strengthen community togetherness. Why Smart Nation? While...

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