RESOURCES
7 Guidelines to Effective Cash Flow
Embarking on your dream business venture requires a steady cash flow and that goes for ALL types of businesses. “Cash Is King” is an adage popularized in the 1900s that holds true to its name till this day, often used to underline the importance of solid cash flow...
What is Anti Money Laundering act and Laundering Act affect you?
An Anti-Money Laundering Act is a law that prohibits Money Laundering. Money Laundering is the act of concealing the transformation of profits from illegal activities and corruption into ostensibly "legitimate" assets. (Wikipedia) An example of an Anti-Money...
When do I need to pay GST for imported goods?
The amount of GST payable is computed based on the CIF value (cost, insurance, freight) of the goods plus all duties payable.
How to Start a Cleaning Company in Singapore?
How To Open A Cleaning Company In Singapore?
How to Start a Business in Singapore?
Starting a business in Singapore is a great idea! Singapore is a vibrant & exciting cosmopolitan city. It has a strategic location & is one of the 4 Asian Tiger economies. In the very beginning of your startup venture, you need some milestones that would guide...
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...
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...
Why know your customer “KYC” is important to business growth
KYC in business stands for ‘Know your Customer’. A business should not only be concerned with making profits; it should also attempt to know who it has business dealings with. This means identifying and verifying the identity of customers; according to Wikipedia. KYC...
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...
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...
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...
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...